pull down to refresh
21 sats \ 10 replies \ @Satosora 24 Jul \ on: The American tradition of abolishing central banks econ
If only the people could rally together and do this.
It would benefit the people in so many ways.
They have before, but that was also before America was the global empire and before the dollar was the world reserve currency. It's hard to imagine they'd ever give up control over the dollar.
reply
reply
I don't think BRICS will take over as the reserve currency globally, but it may displace the dollar in a large portion of the world. We just wouldn't have a global reserve currency, then.
reply
reply
That's largely how I feel too. The question is just how far BRICS makes it before it fails.
reply
reply
It'll have the same poor incentives as the EU, but with much worse actors who have no cultural or geographic ties to each other. I expect it to fail much faster than the EU is.
reply