New currency from BRICS countries - page 5.

Argoo

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Quote from: teosanru on May 07, 2023, 01:55:19 PM

Quote from: I_RodimusPrime on March 31, 2023, 12:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

I don't think so this will happen, BRICS isn't that big and that United organization that it can create it's own currency. Especially India and China Don't have those sweet relationships as well. Also even if for a second imagine it's true, this will not be because they want to manipulate bitcoin, it'll be because they want to counter the dominance of dollar and Euro in the world. So i don't think this is effecting bitcoin.

Talk about the new currency of the BRICS countries exists only at the level of the conversations themselves and no more. Although the Russian embassy in Kenya said "the BRICS countries are planning to introduce a new trading currency that will be backed by gold", the New Development Bank, a financial institution created by the BRICS bloc, said in an official statement that it does not have any immediate plans to create a single currencies.

Instead, BRICS members Brazil, Russia, India, China and South Africa are pushing for more bilateral trade in local currencies. They are not ready to challenge the global dominance of the dollar.

Developing something alternative is more of a medium-to-long-term ambition," Leslie Maasdorp, vice president and chief financial officer of the New Development Bank, told Bloomberg. "There are currently no proposals to create a BRICS currency."

Before the virtual BRICS summit, Indian Foreign Minister Dr. S. Jaishankar stated that "there is no idea of a BRICS currency". "Currencies will remain a national issue for a long time to come," Jaishankar added.

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nurilham

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Quote from: I_RodimusPrime on March 31, 2023, 12:25:20 AM

As I can see all these things to manipulate BTC right? What are your thoughts about this?

How BRICS manipulates BTC price?
As far as I know, BRICS isn't made to influence BTC, it is to strengthen the finances of BRICS countries. If BRICS is getting stronger, it just brings impact on dollars, not on Bitcoin price. Bitcoin has nothing to do with BRICS, Bitcoin will always grow whatever happens in dollars. So, I think we shouldn't be so afraid of BRICS, only people who hold dollars must worry about the issue.

https://www.themoneycloud.com/market-insights/current-events/2015/05/what-does-brics-new-currency-reserve-mean-for-you

Baoo

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Hmmm, what’s the purpose of launching this new digital currency? Are they trying to manipulate the market?
Are they planning to break Bitcoin down? Of couse they are.
To be honest, this reminded of the failed attempt from wealthy banks when they created XRP coin and boosted large funds just to end Bitcoin and Ethereum. In addition to that, probably they have another purpose of creating this coin which is ending the dominance of some FIAT such as, Euro and USD toward their economies. Hopefully, this new coin BRICS will affect positively on the market.

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Quote from: I_RodimusPrime on March 31, 2023, 12:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

In my opinion I think there will nothing to do with brick to manipulate bitcoin. Like others saying I also think that to stabilise Brick as a new currency for get out of the dominance from the US dollar. As China is coming in with big countries like Russia, I think it can create a strong position against the US dollar in the global market. Of course, it is assumed that Europe will not take it well, it remains to be seen how the medialist takes it. I think this initiative step can play a big role in getting rid of the monopoly of dollar, maybe it will take time to be fully effective but I am optimistic.

rahulzx

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Quote from: I_RodimusPrime on March 31, 2023, 12:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

in my point of view they have long time plan with how to handle global leadership to strongest party that can handle economics & etc. This century have become to conquer the world not from military power but from economical power.

Fortify

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Quote from: I_RodimusPrime on March 31, 2023, 12:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

The only country with a powerful enough economic background to create a reserve country in the "BRICS" (a meaningless grouping of countries by the way, as they are widely disparate and have tenuous economic links) is China. India is never going to enter into any sort of monetary union with China because they are both rivals in Asia trying to wrestle the most power in the region. South Africa is a legitimate, but fairly small economic power in the scheme of things. It would make more sense if some Middle Eastern countries were within the grouping but they are clearly missing too. It's a very flawed methodology to imply these countries would ever willingly share a currency.

teosanru

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Quote from: I_RodimusPrime on March 31, 2023, 12:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

I don't think so this will happen, BRICS isn't that big and that United organization that it can create it's own currency. Especially India and China Don't have those sweet relationships as well. Also even if for a second imagine it's true, this will not be because they want to manipulate bitcoin, it'll be because they want to counter the dominance of dollar and Euro in the world. So i don't think this is effecting bitcoin.

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Quote from: DrBeer on May 06, 2023, 02:40:30 AM

All true, but there is a nuance. The US will not attack a degraded Russia, because.. It is already being slowly swallowed up by China. Russia is just a bargaining chip in the big geopolitical game of the two major powers. And believe me - for the United States, some kind of counterbalance is always needed: this holds back both sides, and it is beneficial for the United States itself - there is always someone to "write off the budget" to. Think a little wider than populist slogans!

Btw you can see the better side and give us a little bit of security. I mean it is true that the United States needs a balance and at the same time becomes a political cycle that is quite hot so that all sides will be very clearly divided. Team A and camp B showed themselves in their respective lines. In addition to geopolitical counterweights, of course this is also tied to how the world economy works. The US will continue to be a competitor that is always a reference for Russia and China, so that it has indirectly shown that US power is not really easy to get rid of in terms of world economic control.

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Quote from: Solosanz on March 31, 2023, 03:34:16 AM

How can a centralized currency can manipulate Bitcoin? can you explain?

It's about politic problem and it's called as dedollarisation where these BRICS countries not want to use or adopt dollar anymore. To be honest there's no problem to Bitcoin because Bitcoin price isn't pegged with any currency and it's can't be manipulated.

I think the person who started the thread is looking at it from the wrong angle. I agree with what you said.

I think he must have looked at it from the wrong angle. Because comparing a central currency and bitcoin is not a correct comparison. They must be making such a decision as a result of developments that have arisen together with political reasons. This has nothing to do with bitcoin. A study to reduce the dominance of the dollar in the world. Probably so. It's not about Bitcoin.

barbara44

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Quote from: Gyfts on May 02, 2023, 08:00:20 AM

I wouldn't put it past them. The only country to worry about in "BRICS" would be China. India's economy is not yet large enough and they're more democratized than the CCP. China's looking to form dependence on Yuan by other countries -- does it seem so wildly speculative that China predicts Bitcoin to be a future threat? Do not think short term -- think 10-20 years down the line. Could there reasonably be a world in which countries use decentralized currencies to conduct bilateral trades/transactions that would cause China some concern if their long term goal is Yuan dependence onto other countries?

I feel like whatever nations can do, they are allowed to it, not like anyone forces them to do anything. Lets assume that China is spending money and time on making other nations depend on them, if other nations don't fall for it, they can avoid it, but if other nations end up accepting that, then there is nothing we can do about it.

For example, China is spending tens of billions of dollars to build amazing infrastructures, literally making the nation from scratch, its airports, roads, hospitals and so much more and in return they only want one thing; trade them using yuan and nothing else. They don't even meddle with us spending dollar in trading with others, they only want us to trade using yuan with them, if more then that's great but the only requirement is them.

Is that a trick to make us depend on them? Surely, but they are at least giving something in return too, so far we have used dollars with everyone and USA offered absolutely nothing for it, so this is at least better.

DrBeer

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Quote from: be.open on April 30, 2023, 01:19:14 PM

It is in the countries of the Big Seven that no one asks anyone - as the main hegemon said, it will be so. And in the BRICS countries, cooperation is carried out on mutually beneficial terms, no one looks down on anyone, and there is no single decision-making center. In a sense, it is a peer-to-peer hierarchy, like the Bitcoin network. Perhaps that is why so many countries want to join the BRICS that they are tired of external pressure and manipulation attempts.

Thank you so much - I laughed heartily in the morning, and now in a good mood for the whole day

Quote from: misterrtwisterr on April 30, 2023, 12:44:28 PM

Honestly, if anyone can introduce a petrodollar competitor, it's BRICS. Not because they're competent, but because USA won't have balls sending their military to China or Russia, like they did with the last two guys who tried to pull the same thing.

All true, but there is a nuance. The US will not attack a degraded Russia, because.. It is already being slowly swallowed up by China. Russia is just a bargaining chip in the big geopolitical game of the two major powers. And believe me - for the United States, some kind of counterbalance is always needed: this holds back both sides, and it is beneficial for the United States itself - there is always someone to "write off the budget" to. Think a little wider than populist slogans!

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Quote from: justdimin on May 02, 2023, 01:14:33 PM

Like USA did to other nations? I understand that you are an American and go around the forum protecting USA and its interest because that is what nationalism does to you. But even though I agree what you said about China is true, it doesn't change the fact that USA has ruined multiple nations with the exact same method as well. Look at Latin America, between disrupting the governments, putting oil companies that basically steal oil out of it, and forcing plenty of small nations to keep accepting dollars, there are so many nations that did so badly so far.

I think that is going to be a tough one, it is going to be a trouble. I believe that every nation should deal with their own currency between each other, and that's how the world will be much better place, not USA, not China, each nation uses their own currency between each other.

I am a citizen of a beautiful European country - Ukraine, which is now suffering from a terrorist massacre organized by the terrorist country Russia. But the good thing is that soon we will drive an aspen stake into the heart of rashizm!

Do you think that if I say real things, give arguments, give logical answers and show causal relationships - I am definitely a US citizen?

You are obsessed with the United States, the only thing I can say.

But back to your question "How did the US deal with other countries" and the topic. And what - the United States issued counterfeit dollars to other countries? Or does not support the dollar? Or do they have a third world economy? What have they "done with other countries"? Waiting for examples with facts, within the framework of this topic?

Antotena

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Quote from: I_RodimusPrime on March 31, 2023, 12:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

What do you mean by manipulate BTC? Is that enough to manipulate bitcoin price? This is not the first sovereign nations to build something like this and they are using it for settlement and legal tender, no way that can be a tool to manipulate the price of bitcoin, they don't hold the power to control the price of bitcoin that is used around the world.

usekevin

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In this three countries are developed countries,the rest two are developing countries.The developed nation will support the developing countries by the economic funds allocation.When the new currency was launched like the European nation,the currency will be supplied through out this countries.So the internal transaction will be very smooth because of same money used in this five countries.If the developing country India and South Africa want to exchange their goods to Brazil,Russia,China will be easy one.So this two country can earn more money and became a developed country.For this all the five country need the full cooperation.

uneng

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I doubt they are going to create a personal currency for BRICS. What really matters are the businessmen of these countries and I'm sure that between using dollar or any other unknown random currency they are going to prefer dollar yet... At least it has a history of reputation along the centuries, compared to other fiat currencies. It's not perfect, but among the disponible alternatives, it's the finest one.

Who in sane mind would prefer a currency launched by the most populist and liar global leaders of the world, such as Putin, Xi Jinping and Lula?

Davidvictorson

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Quote from: I_RodimusPrime on March 31, 2023, 12:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

I like this because personally, I would like to see how it ends and the effects it will have on the economic, financial and other sectors of the countries that are both directly and indirectly. I am curious. So will other south-African countries impose the use of the new currency? Will they create their own "BRICs World Bank" and give out low interest loans to undeveloped countries? There's a lot of interesting things that's going to happen soon.

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Quote from: DrBeer on May 01, 2023, 02:23:22 AM

China is well aware that it is not able to replace the US and the dollar, or become their competitor. He has other goals. Its goal is to create around itself a belt of satellite countries that will be totally dependent on China/Yuan. How this will be implemented - let's wait quite a bit - the Chinese trap will soon slam shut, and everyone who has accepted the idea of "rejecting the dollar in exchange for the BRICS currency" will become completely dependent on what (I mean the currency and principles of interaction) that China will put in front of them . China openly declares that now HE is the second pole of the bipolar world, and it will LEAD this pole. And without total management and control of financial flows among its satellites, this task will not be solved for China!

Like USA did to other nations? I understand that you are an American and go around the forum protecting USA and its interest because that is what nationalism does to you. But even though I agree what you said about China is true, it doesn't change the fact that USA has ruined multiple nations with the exact same method as well. Look at Latin America, between disrupting the governments, putting oil companies that basically steal oil out of it, and forcing plenty of small nations to keep accepting dollars, there are so many nations that did so badly so far.

I think that is going to be a tough one, it is going to be a trouble. I believe that every nation should deal with their own currency between each other, and that's how the world will be much better place, not USA, not China, each nation uses their own currency between each other.

Gyfts

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Quote from: davis196 on May 01, 2023, 05:30:11 AM

Quote from: I_RodimusPrime on March 31, 2023, 12:25:20 AM

Couple of hours ago there is in news on Twitter saying BRICS countries (Brazil, Russia, India, China, South Africa) are developing a new currency. It was mentioned by State Duma Deputy Chairmen btw.

As I can see all these things to manipulate BTC right? What are your thoughts about this?

The BRICS countries couldn't care less about manipulating Bitcoin. How did you come up with this weird theory?
They simply want to dump the US dollar completely. I doubt that their attempt at creating an alternative global currency would be successful.
Using their own national currencies instead of the US dollar would be a way more successful approach.

Quote

It's very easy to check my version. Let's compare the economy of the USA + the West, and the economy of the group of these "lucky ones"? And especially in the context of today's goals of creating BRICS. Let's make it even simpler, imagine and simulate 2 situations:
- the United States and the collective West, with their economies, will disappear. What is happening on Earth?
- BRICS is disappearing - what is happening on Earth?

The economy of the so called "west" is artificially pumped by the money printing machines. BRICS countries have a big enough population and natural resources to survive without the "west". Can the "west" survive without the BRICS countries? Most likely yes, but at the cost of lowering the standard of living of the western middle class.

I wouldn't put it past them. The only country to worry about in "BRICS" would be China. India's economy is not yet large enough and they're more democratized than the CCP. China's looking to form dependence on Yuan by other countries -- does it seem so wildly speculative that China predicts Bitcoin to be a future threat? Do not think short term -- think 10-20 years down the line. Could there reasonably be a world in which countries use decentralized currencies to conduct bilateral trades/transactions that would cause China some concern if their long term goal is Yuan dependence onto other countries?

slapper

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Quote from: DrBeer on May 01, 2023, 02:23:22 AM

Quote from: Kakmakr on April 30, 2023, 11:59:15 AM

I hope it's some decentralized token and not a centralized token that are being controlled by China, because we all know the Chinese government wants to have control over everything their citizens are doing. Roll Eyes

There has already been some huge moves to shift away from the US Dollar, but it can explode in their face.. if the US and Europe market turn against them. We also know most African countries and other third world countries are deep in debt with the US and Europe, so that might also be a problem in the future. Roll Eyes

China is well aware that it is not able to replace the US and the dollar, or become their competitor. He has other goals. Its goal is to create around itself a belt of satellite countries that will be totally dependent on China/Yuan. How this will be implemented - let's wait quite a bit - the Chinese trap will soon slam shut, and everyone who has accepted the idea of "rejecting the dollar in exchange for the BRICS currency" will become completely dependent on what (I mean the currency and principles of interaction) that China will put in front of them . China openly declares that now HE is the second pole of the bipolar world, and it will LEAD this pole. And without total management and control of financial flows among its satellites, this task will not be solved for China!

China's crafty plan, a satellite belt? Bold! By shackling countries to China and the Yuan, they're quietly asserting dominance. But at what price? The danger? A homogenized, competition-free financial world. If China's the only player, innovation might stall, ideas wither.

Yet, China's ascent could spark good things. Imagine a bipolar globe, China leading the other pole, focusing on sustainability, social duty. They've made strides; it'll go on. Risks and rewards, China's strategy has them. The crux? Balancing rivalry and teamwork for a thriving financial landscape. Let's be unpredictable!

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Quote from: Kakmakr on April 30, 2023, 11:59:15 AM

I hope it's some decentralized token and not a centralized token that are being controlled by China, because we all know the Chinese government wants to have control over everything their citizens are doing. Roll Eyes

There has already been some huge moves to shift away from the US Dollar, but it can explode in their face.. if the US and Europe market turn against them. We also know most African countries and other third world countries are deep in debt with the US and Europe, so that might also be a problem in the future. Roll Eyes

That's actually what I fear, the decentralized scenario. It's hard to issue a centralized token that will be under the control of several BRICS countries simultaneously, so a decentralized token that none of them control might be the next best thing. And if they choose a decentralized coin that already exists, so that they don't have to deal with liquidity and there's already some significant demand for that coin, whatever they choose will become the target of Western sanctions and regulations. I just hope it won't be Bitcoin and that a decentralized coin is an unacceptable choice for a bunch of countries that favour authoritarianism over democracy and thus control over freedom.

Topic: New currency from BRICS countries - page 5. (Read 1100 times)