Topic: The disappointing outcome of BRICS 2024 - page 2. (Read 1420 times)

BRICS isn't a "coin"? It's an alliance between Nation-States that have special economic agreements with each other to use each other's currencies for international trade with one another. But what actually could happen is, it's going to be a game of "hot-potato" because why would a country like China hold a currency other than that of the U.S. Dollar?

  ¯\_(ツ)_/¯

India, expectedly, showed its adequacy and was not afraid to speak out about the reality, instead of regular targeted information throw-ins by some rogue countries.

BRICS member countries are not interested in the dollar loosening. This was stated by Indian Foreign Minister Subrahmanyam Jaishankar, Reuters reported on Saturday, December 7.

India's central bank governor Shaktikanta Das said the country has no policy of abandoning the dollar and has not made any decisions on the BRICS currency.

“We have not taken a single step that is specifically aimed at de-dollarization,” he assured.

He said India has entered into trade agreements denominated in local currency to mitigate certain risks as “dependence on a single currency can sometimes be problematic due to appreciation or depreciation.”

Das stressed that de-dollarization is “certainly not our goal,” noting that the concept of a BRICS currency has been initiated by a member of the group but no decision has been taken on the issue.

It is possible to diverge on the issue of “dedollarization” - the most stable and over-promising BRICS member has revealed its cards.

So that is something like: "let's stay here but we are Moving forward" Trump already said or I saw that he Said in a Synopsis that if the BRICS thing is going to Happen they will have to pay Almost unpayable taxes because of how high they are going to Be, I hope that the wars don't happen , that Trump interferes to Avoid Deaths , and after all this, the question of what is being achieved with the BRICS is already being Seen as a possible Threat and that for the US Economy which is not Doing well, it is a fact that it is like that.

Only for the parties of the BRICS Community, some 40+ Countries have interest in joining. Most have no buyer base.
And the people and businesses from those countries will still use the $ to buy goods. 

Of course. The US Dollar is unbeatable. At least for the time-being. Once BRICS countries find a way to escape from US' hegemony, it will be bye-bye to the USD for good. This is a process that's going to take years before it materializes. At the time of this writing, China and Russia are strengthening themselves both technologically and economically. Especially China with its recent advancements in AI, EVs, and semiconductors. It even discovered a gold deposit worth around $83 billion. So yes, chess pieces are slowly being put in place for an eventual "checkmate".

I'm afraid the US has its days numbered. And there's nothing Trump, Musk, or anyone else can do anything about it. I mean, will Trump be able to pay off the national debt or abolish the FED in the long-run? I doubt it. There will be a new superpower that will reign supreme in the "New World Order". I wonder if it will be BRICS or countries within the EU bloc (aka European Union)? Only time will tell.

BRICS currency falls under the category of redundant moneys. I strongly recommend against investing into government ponzi schemes such as BRICS or dollars.

BRICS = as worthless as a scam coin.

The one and only true currency which will overtake the dollar, the euro and the rest of fiat money is going to be Bitcoin.

You see - everyone understands perfectly well that the dollar today is stability and liquidity, which can not be said about the yuan, for example, and certainly not about the currencies of rogue countries, members of BRICS, such as rubles
I'll tell you a secret - even countries that are hysterical “let's give up the dollar” are very happy to receive dollars, and stock up on dollars instead of “multi-colored paper wrappers”

Stimulus and it will be - countries with aggressive rhetoric will get new bonuses, countries that do not support such rhetoric will continue to work with the US and the world in a mutually beneficial way. This could lead to the emergence of a “non-toxic” BRICS, whether the countries that are poisoning the alliance will be kicked out of BRICS or a new one will be created is a matter of realization.
We know very well who these “toxic” countries are, and we also realize that their impact on the US economy is extremely small, no matter how much someone “puffs up their cheeks”. Apart from the rogue countries and criminal countries, all other BRICS members benefit from cooperation with the world economy, and it is convenient to settle accounts with the whole world in dollars, as they openly declare.

We're all losers with any kind of war that they make. Tariff and trade war has already started, XI just banned exporting these minerals to the US. And expect that this will hit the microchips and every electronics to be made to become more expensive.

China bans export of critical minerals to US as trade tensions escalate

We don't want to see any other war happen anytime soon. Let's see if Trump will calm down this soon because I think that him and Xi have got some friendly relationship built before.

I'm very curious, because recently the US dollar is gaining a lot of value, especially in third world countries where the dollar rises against their local currencies, many are looking for dollars to feel more secure, the BRICS in this case how could it be done? If Russia is in conflict, on the other hand China has problems with Taiwan, all have their breaking points.

People are very interested in the BRICS but there is a thought that the dollar will fall, but with wars? How will this turn out then? I hope that these wars do not occur, but if they do, what will happen? Will the BRICS lower their interest?

Tariff war is still better than a real war, and ruining a nations economy makes them accept they are defeated much faster than killing their soldiers, the reason? You can kill a thousand soldiers, and you are hurting them and their family alone, maybe 5k people all together, kill 10k soldiers and the maximum you could hurt is 50k people, that's it. Hurt their economy? You are hurting tens of millions of people in that nation, and that speeds things up for you to get your situation accepted and win the battle.

Obviously some dictators have no worries about losing elections, China and Russia will continue to be ruled by the same people forever until these people die, and that means they can do whatever they want, and they don't care if their people are poor and hungry, hell China once let 10-20 million people die of famine just to grow, and Russia had similar but much smaller issues during soviet times too, so these people do not care, they just want results, but all other nations will fear the economical consequences and won't join on the idea of starting a currency.

It is thanks to the US and other developed countries of the world that the world has not yet descended into the chaos and terror of totalitarian and other bastard regimes. The problem is that the developed world needs development, a working economy, not a poor population, because without this the economy does not work. And all this contradicts the ideas of rogue countries, for whom “peace is war”, poor and fooled population is a biomass for realization of ideas of totalitarian power, and enmity is an opportunity to earn and strengthen their power. That is why the US has to make sometimes harsh statements on openly aggressive rhetoric. But I am sure that most of the BRICS members are not idiotic countries, but adequate countries that will either ignore the calls of toxic countries “to go to war against the U.S. and the dollar” and continue development and mutually beneficial cooperation. This is what we are witnessing now, which proves the idea that the U.S. and the West are building a strong and mutually beneficial world.

PS About aggression of the USA against the weak, and also about mass illegal actions - you do not confuse anyone with the USA ? Just the reality of the last decades shows a picture completely opposite to your statement, which is easy to see.

Quantity sometimes can bring quality with time, The plan is succeeding as they expand their coasts, they get more allies and spread their beliefs across them. More will join in the future if they find BRICS goal beneficial to them. Politics is a game of interest, remember. Even the dollarization is a game of US interest if we must be neutral here. The US gains everything at the expense of every other country and I think that is victimization.

We all know that the wide use of dollar helps to solidify US dominance and global influence while creating a widespread dependence on dollar by other countries and earning good profits from it. Others might have woken up and decided to strengthen their economies too and you can't blame them for watching out for themselves. Maybe they have a common agreement that would benefit every one of them as against the way dollarization possibly benefits only the US.

I have a feeling the tariffs proposed by President Trump will ultimately backfire. Especially when such actions will further weaponize the dollar (USD). If the US wants BRICS to keep using the USD, it needs to provide some sort of incentivization. Not all the other way around. What BRICS countries will do is use another currency in replacement of the USD. America will be isolated, while the rest of the world will go its separate ways. At least, that's how I see it.

With China discovering a vast supply of Gold, there's a high chance BRICS will back its new currency with it. Or in a plot twist, the bloc will back the new currency with Bitcoin. Times are changing quickly, so America needs to play it smart before it's too late.

Are you serious?
Look at those members. They hardly trade with each other. China with all of them. But BRICS States cannot replace the US or the EU.

It may become a tariff war and as a result we may see how the global economy under the Trump administration will become segmented to certain groups and market instability, which will lead to a global economic slowdown and the price of goods that may spike up in the US. But it is something that BRICS needs to take if they really want to carry out the vision of the organization and not be forever dictated by America. Moreover, BRICS has enough members, with them working together I feel that regional cooperation will be enhanced and it can maintain the stability of goods and services among BRICS members, while for America itself, it can hope that its alliance can help it, or else it will be an economic disaster for them.

If the United States government played fair in the international marketplace, if it did not use its power to bully weak countries or oppress other nations. I believe that the concept of BRICS will never be mentioned, let alone that more and more countries want to join BRICS.

America always says that they are the messengers of peace, they bring justice and prosperity to the world. But the reality is that they are creating wars to sell weapons and get rich from it, they take advantage of the dominance of the USD to export inflation to the whole world...There is too much injustice in the world under the domination of the United States and that is why BRICS was born.

Its ironic to read the more countries joining the less likely the plans will succeed but funnily enough that might be true.   Reason being is cohesion falls with so many varied countries in any alliance.   I dont see the premise is good, to exclude any other country from trade will reduce the benefits in my view but I go with comparative advantage as the best long term plan.   I'm reminded of Gaddafi's green book plan for dreams on new commerce, there was an alliance but it wasnt of much benefit despite good wishes.

Simplicity is best and then more countries would be a positive not a negative but when its politics I would be forced to agree that more is less unfortunately because it becomes a mess and a tangle of never ending varied custom agreements and varied currency strengths across the world.

There is a very simple take that might work which is some reversion to the Bretton Woods agreement as it originated and worked for some years.   To just place countries around some gold standard, its exactly the same idea in every country and language.  I wouldn't argue its perfectly fair, some countries do have more gold available or greater industrial capacity in mining perhaps but its probably the closest to alliance possible, easy to recognize and implement near term; otherwise its all just talk imo.

I partially agree, it doesn't sound like competition but a direct threat. There's no point in arguing about it.
But! We need to remember the reasons for this behavior. When the BRICS was created, it was a purely economic union whose goal was to improve the economies of its members. But time passed, some events took place, and in BRICS, some participants began open, anti-American rhetoric, creating an image of the U.S. as an aggressor and enemy, tried to promote the idea, and to push other participants, the purpose of which was to.... to destroy the U.S. and the dollar in order to create problems for the U.S. economy. These calls can be found in open sources of information, it is not my fiction, but the calls of some representatives of several countries. The patience of the U.S. has run out, and expectedly, and we are seeing the absolutely expected, symmetrical reaction. And this process is quite predictable and expected .....

They won't have one due to not agreeing which one they should choose.
The entire global trade fairy tale was to buy local industries cheaply and grow.
No state with power is fair. Fairness you find only in fairy tales.