• ☆ Yσɠƚԋσʂ ☆OP
    link
    fedilink
    arrow-up
    5
    arrow-down
    5
    ·
    1 year ago

    It’s worth noting that the BRICS currency basically sounds like the Bancor idea that Keynes proposed https://en.wikipedia.org/wiki/Bancor

    It’s not a general currency, but rather one meant specifically as a clearing system for settling transactions in international trade. The main problem it solves is convertibility. Using a common currency allows selling goods to one nation, and then using the funds to pay another nation for goods you might want to purchase from them seamlessly.