I'm bearish on BRICS. Don't think it will ever happen.
Rubio is complaining that BRICS countries plan to trade in their own currencies and that USA will no longer have the ability to sanction these countries.
https://video.nostr.build/214190a4f24c8be5aba8ffd0e6c6ca9e6cf383239dc477ce5c45bca9b5e42c68.mp4
Discussion
It's already happened
I was referring to a BRICS currency. They have settled on one?
No. There is a possibility that they discuss this on their next meeting. So far they are trying to trade with each other on their nationsl currencies. Putin also commented on this and said that this their goal for now.
I strongly doubt any member of BRICS wants a common currency. The Euro is a prime example of why it's not desirable.
I think talk about a BRICS currency is a narrative propagated by North Atlantic powers for their own ends.
Maybe. There are all kinds of thoughts etc on this. One of them is to create a virtual currency with an almost stable value that would reflect the resources of the brics and the national currencies will be compared with the virtual currency (instead of the dollar in the past). So maybe brics will make something. But i agree that the € is a failed experiment. Only countries with corripted governments would like to enter the €zone
I've seen that idea of creating a common currency based on commodities and national currencies but I think it's infeasible. Would be way too complicated to set up and then maintain (against failure).
If a country ends up with an excess of a trading partners' currency then just exchange it for commodities they want to stockpile or for gold or eventually for Bitcoin.
Yes. But we will see that in the future anyway