stacksatsio on Nostr: BRICS is going to happen. Saifedean dismisses it because they can’t feasibly ...
BRICS is going to happen.
Saifedean dismisses it because they can’t feasibly coordinate a real competitor to the USD which is true.
But when you realise the BRICS+ don’t need to be competitive but rather this is economic warfare to splinter the Dollar-zone (ie USA & vassals) and ensure cross border flows when the US finally loses its marbles trying to defend the empire then you’ll see the tradeoffs these countries are willing to make and how they’re preparing.
Multipolarity will look like USD vs BRICS but Bitcoin will be a tiny little wedge in the beginning of that new order, and eventually eat both over time.
It's really happening: Russia is proposing a BRICS “multicurrency system” for cross-border trade.
This will help countries circumvent illegal Western unilateral sanctions.
It will also let them settle transactions in local currencies, not the US dollar.
https://www.bloomberg.com/news/articles/2024-10-11/russia-pitches-brics-payment-system-aiming-to-break-us-dominance
Published at
2024-10-12 14:08:37Event JSON
{
"id": "d2298fabe25ae745a0f3aa80d1da987d80b73a7b69058ecf063c3bfe58933680",
"pubkey": "7ca66d4166b16f54a16868191ba1c6386a976624f4634f3896d9b6740a388ca3",
"created_at": 1728742117,
"kind": 1,
"tags": [
[
"p",
"519d2fb3c354f44f5d4c7cdfc532633daf029bcc7d54beb0cb0f770646f8350f"
],
[
"p",
"519d2fb3c354f44f5d4c7cdfc532633daf029bcc7d54beb0cb0f770646f8350f"
]
],
"content": "BRICS is going to happen.\n\nSaifedean dismisses it because they can’t feasibly coordinate a real competitor to the USD which is true.\n\nBut when you realise the BRICS+ don’t need to be competitive but rather this is economic warfare to splinter the Dollar-zone (ie USA \u0026 vassals) and ensure cross border flows when the US finally loses its marbles trying to defend the empire then you’ll see the tradeoffs these countries are willing to make and how they’re preparing.\n\nMultipolarity will look like USD vs BRICS but Bitcoin will be a tiny little wedge in the beginning of that new order, and eventually eat both over time. nostr:note1aczvyk4w30ywlx4eqvrfs4gaekezu5hgnmz3e3pl8mgh5flctcsqwq6jps",
"sig": "d4cb6436fa9e7713c5c4fc43075bfd857bbbbf602905155d4949dd3391eff1aba7e6dc766c94e3b747e32d6e4689aec6598ce7cd808cbc19ea8a7ac2cd10458e"
}
