35 sats \ 5 replies \ @jk_14 29 Dec 2023 \ parent \ on: BRICS Expansion: A Powerful Energy Bloc Assumes Shape news
Bretton Woods (i.e. between countries that theoretically had a "trust" to each other) - assures us that in case of BRICS their potential gold backed currency - will be a very short-term episode ;)
But it will be backed by energy. Could be different
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please be serious... ;)
BRICS issued paper money "backed by energy" - will be like Petro in Venezuela:
https://www.fintechnexus.com/venezuela-petro-cryptocurrency-backed-crypto-the-petro/
I give them not more than 5 years, too :)
There is only single currency in this world that is backed by input energy:
https://medium.com/capriole/the-energy-standard-b726edeed588
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Compare it for example to the Euro: it's backed by moral and air. I wouldn't underrate the BRICS+ as they will control a large part of the global energy market and a part of the maritime bottlenecks (look why there is this clash at Suez and Red Sea now). It's a serious problem and the Crown and it's willful warmongers knew it
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Compare it for example to the Euro
and the difference is here:
India doesn't trust China, China doesn't trust India, noone trust Russia, noone trust Brazilian fiscal/monetary policy
No way there is trustful paper money (backed by whatever) in such circumstances.
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Well let's wait for Dr. Market to decide. Did You see the crash of the Euro in usage to 22% of SWIFT payments recently? The USD stays strong, Yuan gaining and climbing to 4%. But this could speed up
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