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 BR...

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.

    • freagleEnglish
      9·
      1 year ago

      I think there’s two things that we need to figure out.

      1. what happens in the imperial core when the middle class falls?

      2. what happens in the semi-industrialized 3rd world when the core can’t afford to buy consumer goods?

        • freagleEnglish
          5·
          1 year ago

          But what does “fascism” look like in this context? Does the USA invade Mexico and Canada? Does it invade Europe? Africa? Clearly it can commit mass atrocities on its own people, but there’s got to be a strategy in mind beyond just domestic cruelty.