Topic: BRICS has become eleven countries instead of five. (Read 1420 times)

That is just wishful thinking.
How many people in your neighborhood know how to pass a few satoshies or Bitcoin to another wallet?

it's not like US doesn't have a chance to rise again. they have all the means from the start. they were just not believing from the beginning that BRICS is dedollarising and all they saw was that it's not true and that BRICS is delusional.

they are going to keep adding more countries to their side if nothing is changed in the policies.  my country is allied with the US to this day, seems nothing has been done to improve our lives. maybe going with BRICS for a change will result in something better. maybe this is what those new BRICS members are thinking as well.

Honestly,the BRICS is becoming more and more stronger with their component's.They're strongly forming into a huge and large alliance,they're alliance is threatening and will begin to frighten other economic activities.As it is right now,it's very difficult to determine  or predict what the BRICS are up to.
This is ultimately a big win for China because they seem to be fighting for a strong voice in today's world affairs.The BRICS is generally increasing in population and politically and economically all together.

They have the healthcare but only for the top 1% perhaps. Same with University Fees.
These industries seem to be bubbles that will have to burst at some point...

Does US even have a healthcare system
Last I checked every year millions of Americans traveled to another country specially Mexico for all their medical and dental procedures...

Well obviously a circular economy running on Bitcoin will include these services.
Why are you on this forum if you don't believe in Bitcoin?

 
You don't know what you wish for.
Healthcare all done in the US currency,
Food, Merchant products, Ships, airplanes you name it. All use US$.

Imagine you need to bring someone to a clinic, and you need to sort out what kind of currency can be used. The patient dies.

 

I think that's why all of us are in this Bitcoin movement – all of us want freedom from the US dollar and the US govt's effect on our lives... and whatever subsequent world domination that will come after the US hegemony.

Let us all be honest these countries will do anything to save themselves even if it meant they have to make it look like they have a partnership or just a good relationship with other countries. They are all in agreement because there is something they need from each other. The moment there is none, I am sure they will have no hesitation to turn their backs on one another.
Freedom from US is equivalent of being able to dethrone the US government and the US dollar.

i don't think they trust anybody in their group but they were mixing all their assets afaik but not sure who will hold their assets and they come up with the currency BRICS as well. just like Europe where they have EURO. maybe its true that they will have their currency tied to each other.

however i don't think they are interested in new world order, they just want to be independent in finance and economics since most of these countries were sanctioned by US and if they can work around on their own means they are free from US sanctions.

South America, I live in Venezuela.
That Macron was not welcome is quite normal, France forced their french colonial currency far too long onto their ex African Colonies.   

I don't think any BRICS member would want to be linked financially to each other with one currency. These countries are all very authoritarian in their own ways and I don't think they trust each other that much  

Imagine the king of Saudi having to trust Iran with a single currency. I don't see that happening.

Why would Brazil want to be linked financially to say, Iran or Russia in case of sanctions or wars or something that has nothing to do with them? No thank you.

Which "third world" countries' banking system is from the 1800's?
Because in my experience, banking in the third world is FAR better and technologically modernised than in the USA. The US banks don't even have EFT (electronic funds transfer) where I just put money from my Banking App into your bank account and if we're the same bank, the funds are available immediately. IF you're a different bank from me, I have the option to select "pay and clear now" and for a small fee, the money is available in your account immediately too. In the US you need third party apps like Venmo. We don't have Venmo because we don't need it. In Kenya they have a payment system that sits on your phone, called M-Pesa. It works different from a bank, it's run by your cellphone service provider.

We also do tax returns with eFiling (where your tax return is already loaded into the system you just have to tweak it if you want to upload proof that you have extra deductible expenses). But that is only because our tax revenue service is determined to squeeze every last blue cent out of the taxpayers. The only government institution here that does work and works very well, is the tax revenue service lol

I live in "third world" (South Africa) and I can walk into a bank now, and open a bank account within an hour or so. All I need is ID and Proof of Address (like a utility bill or something). Some banks I can even open one online (but they still want to see your face, so after doing the application online you still have to show them your face – we have a law here called FICA (Financial Intelligence Centre Act) that aims to prevent Identity Fraud.

Which countries are you referring to where it takes 3 to 18 weeks?

The Trading thing:
BRICS nations are the biggest producers of commodities, Western world is the consumer of said commodities. Plus, I don't know why the USA is trying to provoke a war with China: the two economies are so linked and need each other. China makes the stuff and the USA consumes the stuff. So both G7 and BRICS need each other. BRICS can't sell its commodities only to themselves. BRICS doesn't aim to overtake the G7 it just wants to be paid better for the commodities and not be exploited anymore:

Niger used to sell Uranium to France at something stupid like 2 cents per kilo, but the market rate is $200/kg. So they have recently raised the price to market value. France is not happy they can't exploit their ex-colonies anymore.

PS: Macron tried to join BRICS – last year he asked if he may get and invitation to attend the conference and the members said no.

The plan to create a new currency is a serious one and has been being discussed for some time now. All you can say is that the said plan is not yet agreed upon by all members to start discussing the details and making it public, like announcing it in the conference you say you've participated in.

The problem is coming up with an agreement specially with weasel regimes like the Chinese who want to force Yuan on everyone replacing the dollar and nobody wants that
It is impossible to predict what they'd do in the end.

Most Chinese are not rich in the sense of wealthy or even well off.
Even though US and Canadian Citizens have it harder to buy a house they still can due to their banks.
Banking in the 3rd World is still around 1800. They use correspondence banks, meaning the open an account in Citybank and receive the oder there.
It takes much more time, it cost much more.

Where do you live?
I lived in several countries and in the developed world it was easy to open a bank account. A day and the account was mine (?).
In the developing world its cumbersome to be able to open the 1st account.  It takes about 3 to 18 weeks to open one account. 

Tradewise it is a world of difference:


The US, Germany and the UK trade about 200 billion vs 45 Billion from BRICS.
Even if China's citizens buy more the production of China needs more consumers as they don not have enough. 

So right now, the only countries thirsting for these forever-wars are the USA and Israel (at this point the two seem so intertwined, I shall call them "United Statesrael". The USD is essentially backed by war and war ships. The USA can't afford peace, they don't want it.

I think that's why we have to start exiting from the rigged monetary system. We can start to starve the war machine of funds.

I also believe that they should keep their economy and domestic currency under tight control. The world will witness a pleasant environment if every alliance and state of the world has a spirit of cooperation and efforts toward development.
Experts have debated the currencys hegemony and being perceived as a geopolitical rival of the G-7 due to various BRICS initiatives such as the New Development Bank BRICS Contingent Reserve Arrangement etc. I believe that other like-minded countries including the countries included in the BRICS alliance will benefit if they remain free from that aspect.

Like I said, there is no plan to create a unique BRICS currency. They will just start to use each other's currencies

also: China has strict monetary controls, you can't take your Yuan out of China for instance, so they will not allow for a BRICS currency that they can't have similar control over.

BRICS don't vote like the UN does, they all have the same "vote" (one) and no country has more "say" than another. They also don't have a veto like the UN does.

People around the world began to come together to provide themselves with security and to move with cordiality. As such alliances in the world are expanding their area day by day to increase their capabilities. But it will be a very good decision if there is no alliance vindictive towards it. As experts debate the possibility of the dollar dominating the BRICS currency, the BRICS currency could depreciate the US dollar. I hope that BRICS will continue to embrace its underlying principles of non-interference, full equality and mutual benefit, and strive for mutual development through this.

Apparently from what I hear, few people in the USA can afford a house these days also.
Plus you're forgetting China: they are not poor anymore.

Crypto is big in Africa (South Africa, Nigeria and Kenya) so crypto is actually a very viable and interesting solution to a lot of problems with money and exchange rates and monetary fuckery in general...