4 ms·

BRICS is the new reserve currency. America pushed too hard on bad policies, poor public sector services, unaffordable health care, and lower education standard

BRICS is the new reserve currency. America pushed too hard on bad policies, poor public sector services, unaffordable health care, and lower education standards... there's no coming back from that.

madspindel 3y ago
> BRICS is the new reserve currency and then you say: > America pushed too hard on bad policies, poor public sector services, unaffordable health care, and lower education standards... there's no coming back from that. Yes, because BRICS doesn't have any of these issues... USD will be the reserve currency because even if United States has its own problems, it is still better than the rest of the world.
- gjpolly 3y ago
  America as a reserve currency is based on debt. BRICS (from what I understand) is based on assets.
X6S1x6Okd1st 3y ago
What's the current exchange rate for that currency??
axo11 3y ago
BRICS economy is as strong as US economy is. If the US financially collapses, so will BRICS.
yourusername 3y ago
I don't think people are lining up to store their value in Rand, Real, Roebels or Rupees (but maybe Yuan). I know the US is devaluing the dollar all the time but still if i have to choose between keeping my savings in Rand or US Dollars that is a easy choice. But i'd take Krugerrands over Dollars.
- qeternity 3y ago
  Crypto’s largest use-case aside from retail gambling is to facilitation of capital control evasion in Asian countries, notably China. By and large the flight is into dollars.
- OscarCunningham 3y ago
  You could have said 'Renminbi' instead of 'Yuan' to keep the alliteration going.
sgt 3y ago
B for Bloody Chaos R for Russian Invaders I for Indian Corruption C for China CCP...? S for South Africa Minor, since it has the smallest GDP in this list. Arguably probably the best one of the 5 to live in.
pjc50 3y ago
The idea that Brazil will have a more stable currency than the dollar is a hilarious inversion of reality.

BRICS is the new reserve currency. America pushed too hard on bad policies, poor public sector services, unaffordable health care, and lower education standards... there's no coming back from that.

madspindel 3y ago

> BRICS is the new reserve currency and then you say: > America pushed too hard on bad policies, poor public sector services, unaffordable health care, and lower education standards... there's no coming back from that. Yes, because BRICS doesn't have any of these issues... USD will be the reserve currency because even if United States has its own problems, it is still better than the rest of the world.

gjpolly 3y ago
America as a reserve currency is based on debt. BRICS (from what I understand) is based on assets.

X6S1x6Okd1st 3y ago

What's the current exchange rate for that currency??

axo11 3y ago

BRICS economy is as strong as US economy is. If the US financially collapses, so will BRICS.

yourusername 3y ago

I don't think people are lining up to store their value in Rand, Real, Roebels or Rupees (but maybe Yuan). I know the US is devaluing the dollar all the time but still if i have to choose between keeping my savings in Rand or US Dollars that is a easy choice. But i'd take Krugerrands over Dollars.

qeternity 3y ago
Crypto’s largest use-case aside from retail gambling is to facilitation of capital control evasion in Asian countries, notably China. By and large the flight is into dollars.
OscarCunningham 3y ago
You could have said 'Renminbi' instead of 'Yuan' to keep the alliteration going.

sgt 3y ago

B for Bloody Chaos R for Russian Invaders I for Indian Corruption C for China CCP...? S for South Africa Minor, since it has the smallest GDP in this list. Arguably probably the best one of the 5 to live in.

pjc50 3y ago

The idea that Brazil will have a more stable currency than the dollar is a hilarious inversion of reality.