The disappointing outcome of BRICS 2024

[terrific]

Tariff war is still better than a real war, and ruining a nations economy makes them accept they are defeated much faster than killing their soldiers, the reason? You can kill a thousand soldiers, and you are hurting them and their family alone, maybe 5k people all together, kill 10k soldiers and the maximum you could hurt is 50k people, that's it. Hurt their economy? You are hurting tens of millions of people in that nation, and that speeds things up for you to get your situation accepted and win the battle.

We're all losers with any kind of war that they make. Tariff and trade war has already started, XI just banned exporting these minerals to the US. And expect that this will hit the microchips and every electronics to be made to become more expensive.

China bans export of critical minerals to US as trade tensions escalate

People are very interested in the BRICS but there is a thought that the dollar will fall, but with wars? How will this turn out then? I hope that these wars do not occur, but if they do, what will happen? Will the BRICS lower their interest?

We don't want to see any other war happen anytime soon. Let's see if Trump will calm down this soon because I think that him and Xi have got some friendly relationship built before.

[DrBeer]

It may become a tariff war and as a result we may see how the global economy under the Trump administration will become segmented to certain groups and market instability, which will lead to a global economic slowdown and the price of goods that may spike up in the US. But it is something that BRICS needs to take if they really want to carry out the vision of the organization and not be forever dictated by America. Moreover, BRICS has enough members, with them working together I feel that regional cooperation will be enhanced and it can maintain the stability of goods and services among BRICS members, while for America itself, it can hope that its alliance can help it, or else it will be an economic disaster for them.

I have a feeling the tariffs proposed by President Trump will ultimately backfire. Especially when such actions will further weaponize the dollar (USD). If the US wants BRICS to keep using the USD, it needs to provide some sort of incentivization. Not all the other way around. What BRICS countries will do is use another currency in replacement of the USD. America will be isolated, while the rest of the world will go its separate ways. At least, that's how I see it.

With China discovering a vast supply of Gold, there's a high chance BRICS will back its new currency with it. Or in a plot twist, the bloc will back the new currency with Bitcoin. Times are changing quickly, so America needs to play it smart before it's too late.

Stimulus and it will be - countries with aggressive rhetoric will get new bonuses, countries that do not support such rhetoric will continue to work with the US and the world in a mutually beneficial way. This could lead to the emergence of a “non-toxic” BRICS, whether the countries that are poisoning the alliance will be kicked out of BRICS or a new one will be created is a matter of realization.
We know very well who these “toxic” countries are, and we also realize that their impact on the US economy is extremely small, no matter how much someone “puffs up their cheeks”. Apart from the rogue countries and criminal countries, all other BRICS members benefit from cooperation with the world economy, and it is convenient to settle accounts with the whole world in dollars, as they openly declare.

[DrBeer]

I'm very curious, because recently the US dollar is gaining a lot of value, especially in third world countries where the dollar rises against their local currencies, many are looking for dollars to feel more secure, the BRICS in this case how could it be done? If Russia is in conflict, on the other hand China has problems with Taiwan, all have their breaking points.

People are very interested in the BRICS but there is a thought that the dollar will fall, but with wars? How will this turn out then? I hope that these wars do not occur, but if they do, what will happen? Will the BRICS lower their interest?

You see - everyone understands perfectly well that the dollar today is stability and liquidity, which can not be said about the yuan, for example, and certainly not about the currencies of rogue countries, members of BRICS, such as rubles
I'll tell you a secret - even countries that are hysterical “let's give up the dollar” are very happy to receive dollars, and stock up on dollars instead of “multi-colored paper wrappers”

[goldkingcoiner]

BRICS currency falls under the category of redundant moneys. I strongly recommend against investing into government ponzi schemes such as BRICS or dollars.

BRICS = as worthless as a scam coin.

The one and only true currency which will overtake the dollar, the euro and the rest of fiat money is going to be Bitcoin.

[Abiky]

You see - everyone understands perfectly well that the dollar today is stability and liquidity, which can not be said about the yuan, for example, and certainly not about the currencies of rogue countries, members of BRICS, such as rubles
I'll tell you a secret - even countries that are hysterical “let's give up the dollar” are very happy to receive dollars, and stock up on dollars instead of “multi-colored paper wrappers”

Of course. The US Dollar is unbeatable. At least for the time-being. Once BRICS countries find a way to escape from US' hegemony, it will be bye-bye to the USD for good. This is a process that's going to take years before it materializes. At the time of this writing, China and Russia are strengthening themselves both technologically and economically. Especially China with its recent advancements in AI, EVs, and semiconductors. It even discovered a gold deposit worth around $83 billion. So yes, chess pieces are slowly being put in place for an eventual "checkmate".

I'm afraid the US has its days numbered. And there's nothing Trump, Musk, or anyone else can do anything about it. I mean, will Trump be able to pay off the national debt or abolish the FED in the long-run? I doubt it. There will be a new superpower that will reign supreme in the "New World Order". I wonder if it will be BRICS or countries within the EU bloc (aka European Union)? Only time will tell.

[WillyAp]

The US Dollar is unbeatable. At least for the time-being. Once BRICS countries find a way to escape from US' hegemony, it will be bye-bye to the USD for good.

Only for the parties of the BRICS Community, some 40+ Countries have interest in joining. Most have no buyer base.
And the people and businesses from those countries will still use the $ to buy goods. 

[danadc]

You see - everyone understands perfectly well that the dollar today is stability and liquidity, which can not be said about the yuan, for example, and certainly not about the currencies of rogue countries, members of BRICS, such as rubles
I'll tell you a secret - even countries that are hysterical “let's give up the dollar” are very happy to receive dollars, and stock up on dollars instead of “multi-colored paper wrappers”

So that is something like: "let's stay here but we are Moving forward" Trump already said or I saw that he Said in a Synopsis that if the BRICS thing is going to Happen they will have to pay Almost unpayable taxes because of how high they are going to Be, I hope that the wars don't happen , that Trump interferes to Avoid Deaths , and after all this, the question of what is being achieved with the BRICS is already being Seen as a possible Threat and that for the US Economy which is not Doing well, it is a fact that it is like that.

[DrBeer]

India, expectedly, showed its adequacy and was not afraid to speak out about the reality, instead of regular targeted information throw-ins by some rogue countries.

BRICS member countries are not interested in the dollar loosening. This was stated by Indian Foreign Minister Subrahmanyam Jaishankar, Reuters reported on Saturday, December 7.

India's central bank governor Shaktikanta Das said the country has no policy of abandoning the dollar and has not made any decisions on the BRICS currency.

“We have not taken a single step that is specifically aimed at de-dollarization,” he assured.

He said India has entered into trade agreements denominated in local currency to mitigate certain risks as “dependence on a single currency can sometimes be problematic due to appreciation or depreciation.”

Das stressed that de-dollarization is “certainly not our goal,” noting that the concept of a BRICS currency has been initiated by a member of the group but no decision has been taken on the issue.

It is possible to diverge on the issue of “dedollarization” - the most stable and over-promising BRICS member has revealed its cards.

[Wind_FURY]

BRICS currency falls under the category of redundant moneys. I strongly recommend against investing into government ponzi schemes such as BRICS or dollars.

BRICS = as worthless as a scam coin.

The one and only true currency which will overtake the dollar, the euro and the rest of fiat money is going to be Bitcoin.

BRICS isn't a "coin"? It's an alliance between Nation-States that have special economic agreements with each other to use each other's currencies for international trade with one another. But what actually could happen is, it's going to be a game of "hot-potato" because why would a country like China hold a currency other than that of the U.S. Dollar?

  ¯\_(ツ)_/¯

[goldkingcoiner]

BRICS currency falls under the category of redundant moneys. I strongly recommend against investing into government ponzi schemes such as BRICS or dollars.

BRICS = as worthless as a scam coin.

The one and only true currency which will overtake the dollar, the euro and the rest of fiat money is going to be Bitcoin.

BRICS isn't a "coin"? It's an alliance between Nation-States that have special economic agreements with each other to use each other's currencies for international trade with one another. But what actually could happen is, it's going to be a game of "hot-potato" because why would a country like China hold a currency other than that of the U.S. Dollar?

  ¯\_(ツ)_/¯

I know BRICs is not a coin. I was comparing the new currency of BRICS to the value of a scam coin in order to show that I see no point in investing into something like that because it will ultimately fail.

[lixer]

The one and only true currency which will overtake the dollar, the euro and the rest of fiat money is going to be Bitcoin.

I mean that's not even a question. The discussion is that if BRICS ever make any fiat currency of their own, sort of like Euro for Europe, but for these nations, doesn't even have to stop using their own currency, just get an alternative method, and would that work or would that fail. That is why I am not entirely sure if bitcoin has a say in any of this, but of course bitcoin is better than every single fiat out there.

So, this discussion wasn't about bitcoin because the answer is clear, to me bitcoin is the greatest asset in the world and there is no way that we would be seeing anything else from this situation at all.

[goldkingcoiner]

The one and only true currency which will overtake the dollar, the euro and the rest of fiat money is going to be Bitcoin.

I mean that's not even a question. The discussion is that if BRICS ever make any fiat currency of their own, sort of like Euro for Europe, but for these nations, doesn't even have to stop using their own currency, just get an alternative method, and would that work or would that fail. That is why I am not entirely sure if bitcoin has a say in any of this, but of course bitcoin is better than every single fiat out there.

So, this discussion wasn't about bitcoin because the answer is clear, to me bitcoin is the greatest asset in the world and there is no way that we would be seeing anything else from this situation at all.

It is only a matter of time until they make a BRICS currency.  And people will attempt to invest in it, because after all, if there are people who invest in Yen or the Ruble there will also be dumb enough people to invest in BRICS fiat currency.

The similarity to a scam coin is glaringly obvious. Even more so considering it might be based on blockchain.

[WillyAp]

It is only a matter of time until they make a BRICS currency.  And people will attempt to invest in it, because after all, if there are people who invest in Yen or the Ruble there will also be dumb enough people to invest in BRICS fiat currency.

One thing is to make the currency, no end in sight. Most are from those countries where time has little value. So it could take a 100 years.
Another thing is to make it tradable. It must be accepted in at least one stock-exchange. To get there both blocks must make peace and not war. 

Investment is always positive, you learn something.

[Mate2237]

I am not from Soviet Union or from the Capitalist society any I happen to be living in the capitalist society but not one and no supported the idea of the movement because it is an exploitative idea from the elites. But I will not like to call the Russian president an international criminal. Conflict arises in every region and location and it is the duty of the third parties to mitigate and quince the war. I believe the intervention of the international bodies in the Russian and Ukraine war is not good enough. And when we come to the BRICS idealogy, it is because of the dollarization of everything in the world and that has caused inflation very high in the world market so some countries are planning to breakout from chain of using dollar because it is impoverishing them because of the inflation.

So if creating another Regional currency will reduce inflation and making things easier in those countries then it is good from my realist thought.

[Smartprofit]

Today I learned about a conspiracy theory (explaining the motives behind the creation of the BRICS organization).

The gist of the theory is this. Imagine that there are powerful forces on planet Earth that coordinate all economic processes on the planet. Imagine that they are not very happy with the current international financial system based on the US dollar. They are not ready to abandon it right now, but are looking for an alternative. Imagine that they are experimenting with a deflationary currency (Bitcoin). Imagine that they need a testing ground for their other large-scale experiment - central bank digital currencies (CBDC), and for this they created BRICS.

The theory is, of course, crazy, but nevertheless, it should be noted that all the states that are now part of BRICS and talk about de-dollarization support the idea of ​​​​implementing CBDC.

[Abiky]

It is only a matter of time until they make a BRICS currency.  And people will attempt to invest in it, because after all, if there are people who invest in Yen or the Ruble there will also be dumb enough people to invest in BRICS fiat currency.

The similarity to a scam coin is glaringly obvious. Even more so considering it might be based on blockchain.

Of course it will be a scam. Just like Venezuela's failed "Petro" digital currency (a replacement of the Bolivar backed by Oil). BRICS might as well back its own currency with Bitcoin if it wants to survive. Or even Gold for that matter. Unless countries from the bloc start ditching the USD in search for other solutions, don't expect them to go anywhere soon.

For now, the US will remain the world's leading superpower. But Trump's trade tariffs and NATO withdrawal could backfire. Meaning it will make America weaker in the long run. Not stronger. At least, that's how I see it. Maybe I'm wrong? Either way, US' hegemony won't last forever. Empires have come and gone as history has shown us. Once America collapses, a new superpower will take the reigns in the future. It could be BRICS, the EU, or even Japan. We can't predict the future, so let's hope for the best.

[danadc]

The US Dollar is unbeatable. At least for the time-being. Once BRICS countries find a way to escape from US' hegemony, it will be bye-bye to the USD for good.

Only for the parties of the BRICS Community, some 40+ Countries have interest in joining. Most have no buyer base.
And the people and businesses from those countries will still use the $ to buy goods. 

What I think is that because of these things, those 40 countries that want to join the BRICS have to be directly against the dollar and the USA, and few countries say so in public, because it is known that the USA has a lot of power worldwide, it is perhaps fear, but for me the dollar still dominates and now that a very patriotic president is coming in, he will take great care of that heritage that the dollar is the dominant currency, for me the only currency that can go against everything is the btc and apart from that it seems that the USA will be PRO BTC, it will be very difficult to dethrone the dollar.

[tottong]

What I think is that because of these things, those 40 countries that want to join the BRICS have to be directly against the dollar and the USA, and few countries say so in public, because it is known that the USA has a lot of power worldwide, it is perhaps fear, but for me the dollar still dominates and now that a very patriotic president is coming in, he will take great care of that heritage that the dollar is the dominant currency, for me the only currency that can go against everything is the btc and apart from that it seems that the USA will be PRO BTC, it will be very difficult to dethrone the dollar.

Fighting a system that is already strong is not easy and it can have economic and geopolitical impacts for the countries that join it.
This is a concern although now it does not have much effect on the countries that join BRICS.
The US has a big influence in the geopolitical course of the world and they know what they can do when a country starts to oppose the dollar policy.
Even if bitcoin could fight the dominance of the dollar I am not so sure it would work because bitcoin was not created for this.

Some countries that have joined BRICS certainly understand the impacts and risks they will face, even though most countries are trying to get out of the current dollar dominance.

[Smack That Ace]

I am not from Soviet Union or from the Capitalist society any I happen to be living in the capitalist society but not one and no supported the idea of the movement because it is an exploitative idea from the elites. But I will not like to call the Russian president an international criminal. Conflict arises in every region and location and it is the duty of the third parties to mitigate and quince the war. I believe the intervention of the international bodies in the Russian and Ukraine war is not good enough. And when we come to the BRICS idealogy, it is because of the dollarization of everything in the world and that has caused inflation very high in the world market so some countries are planning to breakout from chain of using dollar because it is impoverishing them because of the inflation.

So if creating another Regional currency will reduce inflation and making things easier in those countries then it is good from my realist thought.

It is not that international organizations like the United Nations have not intervened well enough to end the war between Russia and Ukraine, but that the interest groups behind this war do not want to end the war. There are countries and organizations that are gaining huge benefits and profits from this war, so they do not want the war to end.

A multipolar world is always better than a unipolar world and most people understand that but as I said: it is all about self-interest so there will be mixed reactions to the existence and idea of ​​BRICS. There are countries that are relying on US subsidies or countries that are being attacked by US enemies, even if they like the idea of ​​BRICS, they will have to protect the dollar and the US at all costs.

[DrBeer]

....
Some countries that have joined BRICS certainly understand the impacts and risks they will face, even though most countries are trying to get out of the current dollar dominance.

And can you reasonably explain the benefit of abandoning the dollar to, for example, India or China ?  For countries - outcasts, yes, it is an attempt to solve their absolutely deserved problems caused by their inadequate behavior. For normal countries, the dollar is a convenient and high-quality solution for international settlements. Yes, with what I agree - the U.S. benefits from it ! They just happened to be smarter at a certain point in time, and used the moment to their advantage.