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True. It’s really that stuff that backs the dollar, more than the way it’s managed.
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Yes, the swift money system. I wonder what they will do with the brics? China or russia or idias system?
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I don’t know, but I’m expecting it to be a huge mess.
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I dont know if they have a monetary system to back up all the transactions... Will be interesting to see in the near future.
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They don’t, and they can’t agree on what kind of system to adopt or how to share control over it.
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The sharing control will be the major part. China has 40% of it, but I think they will need to all put in more if they want it to be the international money.
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I guess it isnt just the USD that is important. It is the government and the banking system that is behind it.