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Re: BRICS will break the dollar and usher a return to gold - Mises Institute

By: Decomposed in 6TH POPE | Recommend this post (0)
Wed, 30 Aug 23 10:35 PM | 61 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 45414 of 60008
(This msg. is a reply to 45411 by Zimbler0)
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Zimbler0:

Re: “Do not forget that India and China do not like or trust each other enough to allow the others currency (or a new currency controlled by the other) to become the 'world reserve currency'.”An interesting article, so thanks. But I don't see how it bolsters your argument. China and India certainly hate and distrust one another - but not enough to stop either one from joining an organization that allies them on certain issues.

Nobody is talking about BRICS forcing member nations into using the yuan or rupee. The talk is that it will issue a NEW currency, its own, that all member nations will honor for certain international transactions. I think it's akin to the U.N. issuing its own currency and expecting member nations to use it for certain types of transactions. The fact that two member nations hate one another would not mean that they couldn't use something controlled by the U.N.

In reality, it's BRICS, not the U.N., and the main country that will be harmed by the new currency's successful implementation is a nation most of the BRICS countries are not terribly fond of: The United States. The U.S. relies heavily on foreign demand for newly minted dollars. When that demand goes down, many of those already printed dollars could be repatriated - causing serious price increases here at home.

IMO, Russia would *love* to do that. China and Iran might too.

If the new BRICS currency is backed by gold - at, say, a 50-thousandth of an ounce per "BRICSY," gold will certainly rise in price and foreign demand for dollars will certainly fall. How much the demand falls and how much it affects us is grounds for speculation, but the general effect is obvious.







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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Re: BRICS will break the dollar and usher a return to gold - Mises Institute
By: Zimbler0 in 6TH POPE
Wed, 30 Aug 23 9:49 PM 		Msg. 45411 of 60008

Hey De,
Do not forget that India and China do not like or trust each other enough to allow the others currency (or a new currency controlled by the other) to become the 'world reserve currency'.

>>>
India-China dispute: The border row explained in 400 words

http://www.bbc.com/news/world-asia-53062484

December 2022
Despite military-level talks, tensions continue. In December 2022 troops clashed for the first time in more than a year.

It happened near the Tawang sector of Arunachal Pradesh state, the eastern tip of India. Some soldiers suffered minor injuries.
>>>

There is an entire article at the link.

For many years now I keep seeing articles about China trying to unlawfully seize India's real estate . . . Much the way China is trying to steal the Philippines fishing grounds within the Philippines EEZ. . . . Or anything of value within the South China Sea.

Zim.

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