Business & Finance NEW: Brazil, Russia, India, China, & South Africa Working on Developing ‘New Currency’

Cherico

Well-known member
To be fair, you may admit the West, Europe and the USA in particular- aren’t exactly pictures of stability either these days. Especially given the political establishment we’ve got.

The west isn't having a good time due to a corrupt and decadent leadership cadre this is true.

But Russia and China both have massive internal issues, Russia is basically dying and is lashing out in such a way that their pissing off everyone. China has concentrated pretty much all power into a singular person which is a recipie for disaster. India is the only actual democracy of the bunch and asking your typical indian to give up that much soventry just to fuck over the west...and hand it over to china?

Yeah thats not happening.

Thing is its not just the west thats unstable its pretty much the entire fucking planet, dispite apprences the US is probally the most stable power in the west because it has the least fucked fundamentals.
 

DarthOne

☦️
The west isn't having a good time due to a corrupt and decadent leadership cadre this is true.

But Russia and China both have massive internal issues, Russia is basically dying and is lashing out in such a way that their pissing off everyone. China has concentrated pretty much all power into a singular person which is a recipie for disaster. India is the only actual democracy of the bunch and asking your typical indian to give up that much soventry just to fuck over the west...and hand it over to china?

Yeah thats not happening.

Thing is its not just the west thats unstable its pretty much the entire fucking planet, dispite apprences the US is probally the most stable power in the west because it has the least fucked fundamentals.
You say that like the west doesn’t have its own massive internal issues!

Social security is drying up, our infrastructure is crumbling, our leaders are allowing-when they aren’t actively importing!- millions of third-world migrants into our nations. Which, even if you don’t believe the Great Replacement, is still going to wreck havoc on the population, job market, wages and society. Especially as those migrants get into positions of government and bring their ethnic conflicts with them as well as an outright disregard for the laws and customs of the nations they are now colonizing.

Our Democracy is a largely a joke, with the political establishment fighting tooth and nail to illegally tilt the balance of power in their favor. It’s gotten to the point that whenever the establishment calls someone a ‘threat to Our Democracy’ those who are paying attention know what they really mean- a threat to their ‘democracy’!

Our kids are being mutilated by nut jobs who are eagerly helped along by Big Pharma, who hope to use this to make ever more obscene amounts of money.

Our public educational system is next to useless thanks to corruption and active sabotage by both the political establishment who don’t want educated people who can call them out on their bullshit. And the literal socialists and Marxists who disguise their nonsense via Critical Race theory.

People are barely getting married and having kids anymore and most of them are likewise too busy working ever harder thanks to our money getting ever more worthless thanks to the political establishment and bureaucracy printing ever more of it. Meanwhile billions and billions of our money are sent over seas to be either money laundered back into the hands of said establishment, given to people who hate us, or worse, used to push the same toxic bullshit that is rotting our own nations away underneath us.

Likewise, that same bureaucratic and political establishment is deep in bed with a military industrial complex that, like a drug-addicted on the search for another hit, is constantly look for the next decades-long forever war so they can take in even more of our money at the cost of our lives! Providing they aren’t outright creating one!

Also, there’s less and less of a moral centerpiece, which was once in the form of religion, holding people off of all sorts of horrible stuff. Degenerate ideas and notions are sprouting up and being treated as acceptable like the bad parts of the Weimar Republic. And less and less societal ‘glue’ holding our nations together.

Oh and then…then we get the fuckers like Soros, Klaus Schwab and the World Economic forum. Who are pushing de-population and de-industrialization ideas in the name man-made climate change (an idea that doesn’t hold up under scrutiny of it or the ‘experts’ track record of getting their predictions right!) and making the world greener by reducing carbon output. Which also comes with the nice bonus for them of making them ever more powerful and wealthy, while creating a society and government that is a nightmarish concoction of Orwell’s 1984, Brave New World, Farentheit 451 and the villains for Ayn Rand!

Let me know if I missed anything!
 

Cherico

Well-known member
yeah this is all true, and yet Russia and China both have even worse internal issues, yet South africa is an even worse dumpster fire, yet Brazil is just as fucked as the rest of the west.

Of the five India is pretty much the most internally stable of the lot and even they have problems its less that the west isn't fucked that everyone is some flavor of fucked.
 

Bigking321

Well-known member
and making the world greener by reducing carbon output.
To be clear, this is the opposite of what happens in reality. The more co2 the greener the world becomes. Plants just go crazy when there's elevated co2. The planet self corrects from elevated co2.

Plants grow and absorb it. Die. And a certain amount is returned to the soil. Easy peasy.

One of the greatest acts of scientific fraud committed against the public is that co2 is a pollutant that needs to be controlled by the government.
 

bintananth

behind a desk
One of the greatest acts of scientific fraud committed against the public is that co2 is a pollutant that needs to be controlled by the government.
Eh ...

The complete combustion of a hydrocarbon or alcohol plus oxygen -> carbon dioxide and water (plus heat). Plants like both of those things.

All the other stuff that comes along for the ride is where the trouble resides. That other stuff is a long list most people aren't going to understand.
 

Robovski

Well-known member
I feel if you wanted to start a new international competitor to the US dollar for international exchange, the way to fight the fait of the dollar is with hard fixed backing of a valuable resource, but then it would be much harder to manipulate and so not super useful for the BRICs. Literal hard currency, the answer for a low-trust environment.
 

Marduk

Well-known member
Moderator
Staff Member
I feel if you wanted to start a new international competitor to the US dollar for international exchange, the way to fight the fait of the dollar is with hard fixed backing of a valuable resource, but then it would be much harder to manipulate and so not super useful for the BRICs. Literal hard currency, the answer for a low-trust environment.
The problem is that most valuable resources either would get ridiculous just on account of existence of such currency on a scale needed for backing a global currency (thing global shortage of gold for electronics) or are too variable in price themselves to be viable for it.
As some mentioned, euro was, and possibly is still closer to a viable dollar competitor than anything involving third world countries.
 

Emperor Tippy

Merchant of Death
Super Moderator
Staff Member
Founder
I feel if you wanted to start a new international competitor to the US dollar for international exchange, the way to fight the fait of the dollar is with hard fixed backing of a valuable resource, but then it would be much harder to manipulate and so not super useful for the BRICs. Literal hard currency, the answer for a low-trust environment.

The only nation that could probably create a direct dollar competitor is Saudi Arabia. Dump all Know Your Customer and Anti-Money Laundering restrictions, allow numbered accounts and bearer instruments, and create a digital currency directly redeemable for oil.

Only allow redemption by the full tanker load.

Go full bank secrecy and give exactly zero fucks about foreign pressure to divulge.

Then have other nations central banks willing to accept your Oil Token in exchange for their own (and others) currencies.

You could capture, practically overnight, basically the entire global black market.

Oh, and let people set up accounts online with literally zero information needed beyond an account number and password.

---
Without a hard asset that everyone wants (of which Oil is the only realistic option), no one is going to care about trying to transact in your funny money when they can use USD just fine.

Without a use case that justifies broad scale adoption, your new currency will never get enough generalized use to be effective as a currency. And the only way to get that kind of wide adoption is to offer something that the USD doesn't. The only competitive advantage that you could go after is secrecy. In doing so you would instantly get trillions of dollars worth of annual transactions from across the world.

Of course, the US military would be doing some regime change about two weeks later because the US government isn't about to allow anyone to create truly anonymous, large scale, financial exchanges.

SA might be systemically important enough to get away with it. Especially if they threaten to wreck all of their oil infrastructure immediately if the US attacks them but I doubt it.

Everyone else that might try it is simply too vulnerable.
 

Sergeant Foley

Well-known member
The new currency will be called...A Brick!

Not exactly sure which country will be the K though.
Something tells me this so-called shtick will blow up in their faces sooner or later because I doubt it'll be successful in the long-term prospects and NEVER bet against the US Dollar ever!

I have strong confidence in the US Dollar!
 

Cherico

Well-known member
Something tells me this so-called shtick will blow up in their faces sooner or later because I doubt it'll be successful in the long-term prospects and NEVER bet against the US Dollar ever!

I have strong confidence in the US Dollar!

I'm not willing to go that far.

Sooner or later something will over take the dollar as a store of value because the US is quite clearly abusing it. That said the brics are not a natural alliance. Think about how much work and effort goes into making a multinational currency work. Think about the very basic sacerfice of soverentry needed to make it work.

The great reciession is clear proof that when you join a multinational currency you lose access to a whole lot of economic tools. When you look at the geo politics of it all. Its just a dead letter arrangement. Because any Indian polition who surrenders that much soverntry to china is going to be kicked out of office. Any Russian who surrenders that much soverentry will be couped. And there is no way that china would allow itself not to be the utter top dog of said arrangement.

Brazil is an ocean away and located on the other side of the pacific and south africa is riddled with corruption and internal issues. Its dead on arival as soon as people seriously think about it.
 

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