As the USA binges on debt the BRICS are slowly getting their act together
BRICS nations asked the bloc’s specially created bank to provide guidance on a how a potential new shared currency might work, including how it could shield other member countries from the impact of sanctions such as those imposed on Russia.
Might not be a currency but a payments system at first. Gold may also play a part.
Interesting tidbit at the end of the article:
“The gathering is a precursor to an Aug. 22-24 summit of BRICS heads of state currently scheduled for Johannesburg. South Africa is considering switching the venue to another nation, according to people familiar with the matter, a move that would resolve its dilemma over whether to execute an International Criminal Court arrest warrant for Putin if he travels to the country.”
DB2
Brazil? Russia? India? China? South Africa?
Yep, those are 5 horses I’d put all my money on.
Not.
Even Russia doesn’t want Indian Rupees.
All the five countries you mentioned hold large amounts of gold!
I think that the idea is not to be tied to one country’s currency having seen the sanctions imposed by the USA on the dollar payments system.