A rather bold statement by Jim Rickards:
I’d be surprised, but you never know…
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I’ll take a wild guess and say that BRICS does come up with a new currency, but it won’t replace the members’ own currencies and it will be a complete flop.
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Twenty years ago I laughed at the idea of BRICS.
Now France and Mexico are showing interest in it.
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I’ve listened enough to Jim Rickards over the years to start ignoring him. 
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France? What does that even mean? Are they going to abandon the Euro and start using some other currency?
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BRICS Currency: All of the disadvantages of the Euro but with none of the advantages.
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I think that it means France realizes that “The Times They Are a-Changin’”
However, on the other hand, this idea seems reasonable. France is a major European country that realized early the historic changes occurring on the global landscape. Macron himself has made surprising statements on multiple occasions, demonstrating a certain level of autonomy separate from Washington. These factors make it feel like it wouldn’t be particularly strange if Macron were to attend the BRICS Summit. The fact that such news are emerging in France and not in other countries itself speaks volumes.
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Ah, so you’re obliquely implying that not only will the dollar lose it’s status, but the euro will too. And that it’ll all be taken over by a currency managed by an amalgam of communist, statist, feckless, warring states. Yeah.
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I’m not too sure what the BRICs will have on offer. I’m sure that Macron has gone to ‘scope out’ BRICs on behalf of the EU to see what the competition may be coming up with. The world’s financial tectonic plates are starting to move so it would make sense.
As for ‘warring states’ - I think that Europe and the USA have a pretty good track record at fighting wars 
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There you go, quoting the Global Times again.
As a reminder, that is well known as an outlet for Chinese propaganda.
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Rather than just saying “that’ll never happen”, here are a couple reasons why I think BRICS won’t issue their own currency:
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Trade isn’t the only thing they care about – monetary and fiscal policy are generally more important. These countries’ economies are quite different, and one currency can’t support their diverging policies.
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I highly doubt that China would subject itself to the whims of Brazil and South Africa (with which they are less economically and geopolitically connected), or India (which is a rival).
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Well, five years ago one US dollar was worth 13.7 Rands. Today it takes 18.7 Rands, a loss in their purchasing power of over 25%.
The South African economy is having trouble not collapsing. However, they are meeting their goals for cutting greenhouse gas emissions.
By year-end, we project real GDP growth to fall sharply from last year. Though we expect growth to pick up again in 2024, the pace is too slow to reduce unemployment, which at 32.9 percent remains close to an all-time high… The country has faced rolling blackouts after years of mismanagement of the state-owned utility, Eskom…
South Africa Beats Climate Goal as Blackouts Slash Emissions
https://www.bloomberg.com/news/articles/2023-05-15/south-africa-beats-climate-goal-as-blackouts-slash-emissions?leadSource=uverify%20wall#xj4y7vzkg?leadSource=uverify%20wall
DB2
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I hear Macron is getting along swimmingly with Putin right now. Two peas in a pod when it comes to economic issues.
Try Yahoo then:
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Interesting points CharlieHustle. I think that one of the ideas behind BRICS is that no one single country will be in charge - that’s the theory anyway.
There are more and more articles about BRICS appearing in the European press at the moment. It is an organization that is still developing and where it is going to end up remains to be seen.
A German view of BRICS:
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You can have regional reserve currencies like the Euro in the EU but there is only one World’s Reserve Currency [WRC] and that is determined by the power of the underlying economy. I’m not going to be investing in Euros or Brics any time soon, not until some superpower dethrones the American Empire. Now that Niall Ferguson’s Chimerica is falling apart there is even less chance for second/third world powers to take over even as coalitions.
The Captain
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I think it’s important to distinguish the different kinds of monetary unions. The US Dollar was initially a currency union amongst all the U.S. states, but it became a national currency once the states were bound by the federal government. That’s relatively easy to manage because of the political unity.
There have been monetary unions amongst distinct nations before and they haven’t lasted very long (about 50 years max). They generally get disrupted by financial crises or wars. Some examples are the Latin Monetary Union and the Scandinavian Monetary Union. The Euro is an interesting ongoing case.
For the reasons I mentioned previously, I wouldn’t pay too much attention to articles about the BRICS forming their own currency. I’d love to see a serious argument that says China will cede their monetary policy to the interests of the BRICS.
I think the more realistic concern is for them to denominate their trade in their own currencies rather than USD.
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