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0 sats \ 3 replies \ @jk_14 29 Dec 2023 freebie \ parent \ on: BRICS Expansion: A Powerful Energy Bloc Assumes Shape news
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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21 sats \ 2 replies \ @TomK OP 29 Dec 2023
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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21 sats \ 1 reply \ @jk_14 29 Dec 2023 freebie
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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21 sats \ 0 replies \ @TomK OP 29 Dec 2023
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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