Anyone have thoughts on BRICS "gold backed currency"
- Thread starter gardentiger
- Start date
My thoughts are why would you prefer a BRICS backed by gold currency when there is Bitcoin?
Bitcoin is not controlled by any one entity and is backed by mathematics. Seems like a better solution to me.
Bitcoin is not controlled by any one entity and is backed by mathematics. Seems like a better solution to me.
I think some of the current uproar going on in the world is related to the impending implosion of the current dollar petro based economy and there is some jockeying going on related to what will replace it and how much pain will accompany the transition imo.
been monitoring this for a long time, and this is going to be a serious issue. their coalition in general, beyond the currency, will control markets in many of the world's major commodity markets. they have had a hiccup with india bailing on the currency for now, and i'm curious how that is resolved. but brics plus the saudis alone, not to mention the additional applicants to the coalition, already control more of global gdp than the g7.
if it takes off the us is completely fooked, we're issuing debt to pay interest on our debt, and there will be a massive amount of the market losing all appetite for our debt as reserves or liquidity. that would be checkmate. can either go full rudolph havenstein and print it away or suffocate in an endless debt trap.
as an aside sergey glazyev, the man tasked with integrating the currency, is a pretty interesting character. i didn't know anything about him until recently, seems he's been more politician/economic advisor than outspoken economist, but he comes across very capable of this role. he has written some pieces that provide more insight into his thinking and what to anticipate moving forward, and it's not ideal. the piece below is quite thorough, and while almost a decade old, is quite on point with much of his geopolitical analysis. the scary part is he's quite evidently a staunch nationalist who, even then, harbored quite combative feelings towards the west. in other words, he appears to be assuming a role he's not only capable of intellectually, but this is a kind of dream role for him. i'd expect him to be as aggressive as possible with moving forward, will be interesting to see if any of his ambition to hurt the west will alienate allies or result in a sloppy rollout due to being expedited.
www.eastviewpress.com
if it takes off the us is completely fooked, we're issuing debt to pay interest on our debt, and there will be a massive amount of the market losing all appetite for our debt as reserves or liquidity. that would be checkmate. can either go full rudolph havenstein and print it away or suffocate in an endless debt trap.
as an aside sergey glazyev, the man tasked with integrating the currency, is a pretty interesting character. i didn't know anything about him until recently, seems he's been more politician/economic advisor than outspoken economist, but he comes across very capable of this role. he has written some pieces that provide more insight into his thinking and what to anticipate moving forward, and it's not ideal. the piece below is quite thorough, and while almost a decade old, is quite on point with much of his geopolitical analysis. the scary part is he's quite evidently a staunch nationalist who, even then, harbored quite combative feelings towards the west. in other words, he appears to be assuming a role he's not only capable of intellectually, but this is a kind of dream role for him. i'd expect him to be as aggressive as possible with moving forward, will be interesting to see if any of his ambition to hurt the west will alienate allies or result in a sloppy rollout due to being expedited.
The Last Geopolitical Game: The U.S. Begins and Loses - East View Press
CONTRARY TO THE PREDICTIONS made by Washington advocates, the disintegration of the USSR and the world socialist system did not lead to the end of history. Neither socialism nor the crisis of capitalism has disappeared.
www.eastviewpress.com
$BTC is the future. All the other currencies can be manipulated.
Shit, JP Morgan thought they had millions of dollars of nickel that turned out to be painted stones. Can’t do that with shitcoin.
Shit, JP Morgan thought they had millions of dollars of nickel that turned out to be painted stones. Can’t do that with shitcoin.
