gipper
Diamond Member
- Jan 8, 2011
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If losing reserve currency status results in termination of the USG war machine, I’m all for it. Though I suppose the consequences could be economically harmful for many Americans.Ditch the Dollar?
"Should the common currency be formed, it will be based on a basket of the currencies of the BRICS countries; the Chinese RMB Yuan, the Russian Ruble, the Indian Rupee, the Brazilian Real, and the South African Rand."
- "The prospect of establishing a common currency will be a top agenda at the upcoming BRICS Summit in Durban, South Africa later this year.
- The Shanghai Cooperation Organization (SCO) is working towards trading in their own national currencies.
- Roughly 40 percent of international trade transactions in goods are invoiced in dollars."
BRICS Countries keen on having common currency to replace US dollar
The dollar-based financial system has been built up since the end of WWII; how long before excessing sanction usage puts an end to that economic "free lunch?"
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The Hard Fist of American Imperialism | Michael Hudson