BRICS nations announced a new currency designed to replace the dollar.The creation of this new gold and commodity backed currency will be discussed at the BRICS summit this August.
BT’s Kei Pritsker explains how this new currency could overturn the hegemony of the US dollar.
I think the road ahead is still very long, and there is always a chance of this new currency becoming corrupted or misused. I can’t celebrate, but I understand the sentiment.
It’s possible, but I have more faith in non-western organizations and unions at this point.