Come on, wash your mouth if you want to discuss. You're talking about things that are not easy to build against institutions older and established for 80 years already. The alternative payment system is something on the table for just 3 years. Don't be naive and impolite
I agree there will be no BRICS currency nor will there be a need for one. Transactions can be settled in national currencies. But I suggest creating a closed fund for holds national currencies of BRICS nations (as its assets) and issues exchange traded securities to wholesale (and possibly retail) customers who want to hold BRICS national currencies as a store of value. There seems to be a demand for such currency-backed assets as an alternative to holding US currency.
Agreed, there is a BRIX Development Bank. I would anticipate that while all local currencies are relevant, practically there would probably be three main trading currencies.
The trick is to increase purchasing power parity:
-Gold price per gram-
US Dollar 104
Brazil Real 585
Chinese Yuan 748
South African Rand 1,876
Mexican Pesos 2,011
Russian Rubles 8,355
Indian Rupee 8,861
Japanese Yen 15,052
Would BRIX members revalue their currencies or issue new currencies that would harmonize with each other? Like the EU Euro but perhaps floating more on national parity value?
I included Mexico because I perceive that they could become a member of BRIX. I don’t know the impact of this in conjunction with the NAFTA Agreement. However, the winds of change are upon us. I included Japan as well for the same reason; they may find benefit in joining at least the ASEAN.
I use a gram of gold as gold is the effective value benchmark and is traded in all economies.
Also, I am really excited about the collaboration efforts described in this article. I really appreciate the attention to detail and writing style/content that these posts contain. Thank you for the window into this fascinating collaboration.
Come on, wash your mouth if you want to discuss. You're talking about things that are not easy to build against institutions older and established for 80 years already. The alternative payment system is something on the table for just 3 years. Don't be naive and impolite
How do we purchase BRICS currency?
there is and will be no BRICS currency, watch out for scams
I agree there will be no BRICS currency nor will there be a need for one. Transactions can be settled in national currencies. But I suggest creating a closed fund for holds national currencies of BRICS nations (as its assets) and issues exchange traded securities to wholesale (and possibly retail) customers who want to hold BRICS national currencies as a store of value. There seems to be a demand for such currency-backed assets as an alternative to holding US currency.
Just a suggestion.
Agreed, there is a BRIX Development Bank. I would anticipate that while all local currencies are relevant, practically there would probably be three main trading currencies.
The trick is to increase purchasing power parity:
-Gold price per gram-
US Dollar 104
Brazil Real 585
Chinese Yuan 748
South African Rand 1,876
Mexican Pesos 2,011
Russian Rubles 8,355
Indian Rupee 8,861
Japanese Yen 15,052
Would BRIX members revalue their currencies or issue new currencies that would harmonize with each other? Like the EU Euro but perhaps floating more on national parity value?
I included Mexico because I perceive that they could become a member of BRIX. I don’t know the impact of this in conjunction with the NAFTA Agreement. However, the winds of change are upon us. I included Japan as well for the same reason; they may find benefit in joining at least the ASEAN.
I use a gram of gold as gold is the effective value benchmark and is traded in all economies.
Also, I am really excited about the collaboration efforts described in this article. I really appreciate the attention to detail and writing style/content that these posts contain. Thank you for the window into this fascinating collaboration.
Xie Xie