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47 sats \ 10 replies \ @Satosora 7 Aug \ on: Bank of Japan Bows to Market Pressure, Maintains Low Rates Amid Instability news
Is brics getting anywhere?
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they won't just set up a common currency because none of them trust each other and would give up their sovereignty like we did in europe. but what they will do is use baskets of currencies backed by gold and energy as a medium of exchanget. they already do that when they exchange energy, the volume of oil traded in roubles or yuan is growing steadily.
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what they will do is use baskets of currencies backed by gold and energy as a medium of exchange
"Backing" your fiat with gold.... I wish them good fortune in the wars to come.
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