Here's why I wouldn't worry about BRICS (for now)

Here's why I wouldn't worry about BRICS (for now)

By LeftFooted | bitcoinea | 12 Feb 2024


The BRICS are an economic alliance of countries that are different, and countries that generally hate each other. India and China, for example, have daily border disputes.


China is the largest economy in the BRICS and yet, the Chinese YUAN isn't even in the top 5 most traded currencies globally.


It is actually in seventh place, after the USD, EUR, JPY, GBP, AUD, CAD and CHF


And what do these currencies all have in common?


They're all US 'allies', including Switzerland, which is only 'neutral' to a certain point (Switzerland is applying sanctions to Russia, same as any other country in the US sphere of influence).


This isn't by accident, and it is because globalization, a term we overuse, simply means that we all use the same trade routes, but those trade routes are controlled by the US.


Today, 90 percent of all goods traded globally still travel by sea, and the US controls (by force) all of the world's main isthmi and channels.


In other words, when country A imports stuff from country B, there's a very strong chance it will have to travel through channels that are fully under the control of the US Armed Forces.


And that is why the US Dollar is and will remain the leading currency until somebody else takes the US place as the world's superpower.


Which is going to happen, but no one knows when or how. And to be honest, this is my personal opinion, we won't find out in our lifetime.


 

How do you rate this article?

14


LeftFooted
LeftFooted

I’m a left-footed duck that loves writing. I write about cars, watches, craft beer and, you’ve guessed it, crypto Also active on read.cash


bitcoinea
bitcoinea

Let’s talk crypto 💎💠

Publish0x

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.

Page not displaying correctly?