Imsgine how good a BRICS currency would be for the world 🙏🙏🙏🙏
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huh why did I think this was misinformation
BRICS currency would be a godsend but respectfully that looks fucking awful. It’s like 50% as bad as that terrible rejected EU flag that just had every flag stretched out.
But the fact that people in BRICS are even talking about a united currency is crazy. It really shows that the dollar is no longer the be all and end all of international trade and finance. 10 years ago, for countries like India and South Africa to even be in an organization where this is considered would be unthinkable.
Over the past few years, BRICS has catapulted from a trading bloc to a serious political force. The BRICS account on Twitter was calling it the “BRICS alliance”, which is some loaded language. It’s clear that there is a desire for a real counterweight to the west ever since the fall of the Soviet Union, and BRICS is finally stepping up to fill that role
I hadn’t made that direct analogy to the Soviet Union, but that seems very apt. Hopefully more durable as there is a bit more autonomy for each member state.
Nah, the soviet union was very durable, much more so than brics likely ever will be. Few other countries ever faced as much external pressure and wars as the ussr did, and even then, it only fell apart because of long term issues stemming from krushchev’s secret speech and the sino-soviet split.
Alright come on, they can do better than that design. Way too much going on and the bright colors of the flags are way too jarring compared to the subdued colors of the rest of the note.
That said, very interesting development!
this is tacky as hell, better to scrap the flags and do clearer monumments stuff
ngl big “graphic design is my passion” energy
This is what all Hexbears will be paid in for defending the PRC 🙏
100 brucks
How many brollars does a PS5 Pro cost?
five hundred and ninety nine rus brollars
I’m sorry but I kinda love it. It’s got bright colours. Also money should look shit, not cool. You should be made to feel like a dork if you’re carrying around a wad.
got me bric’d up
What’s going on with Jesus’s face
Disappointment at being on money
Render unto Jesus
russia giving up their whiteness
Gotta get me some BRICS bux.
Objectively messy from a graphic design perspective. But doesn’t have any sex pests or genociders on it, so that’s a plus, I guess?
Currency design really has a low bar!
Needs more figurehead worship tbh
I propose Buddha to be on it
The graphic design of the bill is wack (complete lack of symmetry with the landmarks. Some start at the inner circle which looks nice, some start at the outer circle, like the taj mahal, which looks out of place as a result).
But a unified brics currency is just a bad idea and replicates the problem of the euro and the usd. You should only use a united currency for an economy under a common economic plan.
The level of inflation and interest rates on a currency that are good for a currency depends significantly upon the country. Basically, if N countries combine their currency, you go from 2N levers (interest rate and reserve requirements for each country) to just 2 levers (1 rate and 1 reserve ratio for all countries). Capitalist economies already have trouble moderating economic activity, reducing the available controls is not ideal. This is pretty much the problem the EU faces.
A much better idea would be a unified brics payment system, with 0 foreign exchange fees and real time conversion. This would give you the benefits of a unified currency (each cross border payments) while still allowing countries to diverge on monetary policy.
If I’m not mistaken, I think this is how the BRICS currency is supposed to work. Like countries have a dynamic exchange rate with it but it provides a common basis for denominating trade. And that way there is a common medium of exchange so trade with one partner does not create an obligation to you since they do not gain a reserve of your own nation’s currency but of a currency acceptable to all members.
Making a reserve does seem like a more sensible approach than a unified currency, but there is still the question of who issues the currency and with what rates. It seems somewhat unnecessary (given my admittedly amateur knowledge) to create a new currency.
Setting the rates too high on the currency will stifle investment, while setting the rates too low will make using the currency unappealing. The problem is that the “ideal” rate differs depending on the profit rates in each country (which diverge significantly from each other).
trade with one partner does not create an obligation to you since they do not gain a reserve of your own nation’s currency but of a currency acceptable to all members.
I mean, the obligation still exists. The obligation is just to BRICS as a whole instead of one country. I guess that might be a nice benefit.
Of course the obligation still exists but it’s a much wider and potentially-more-beneficial-to-fulfill obligation than exists in trading in sovereign currencies directly.
