Nostr Web Client

I see three major *currency* blocks by 2033:

1. The US #dollar: fiat currency; backed by the US military

2. The #BRICS note: backed (at least partially) by #gold

3. #Bitcoin: the people's money

Most other fiat currencies that currently exist will be irrelevant or nonexistent.

BRICS note is never going to be a real thing.

Fiat money is everything about trust, and BRICS countries don't trust each other at that level.

PS: backed partially by gold is an illusion, as it also has to be trusted, as it's not possible to verify it.

Please Login to reply.

Regarding trust between the BRICS countries:

What prevents them to print more paper than gold?

Exactly.

That's why that "gold backed money" would be just like any other fiat money.