A lot of people think that BRICS can create an alternative currency to the US dollar, but I don't think that's going to be the case. I think what's going to be the case is if the US dollar collapses as a reserve currency then currency will no longer be a reserve. Neighboring countries or blocs might come to bilateral or multilateral agreements to use certain forms of local currency, but you'll probably have to have something of value for big truly international transactions.
When something that big fills that catastrophically, it doesn't tend to be a similar thing that rises up in its place.
When something that big fills that catastrophically, it doesn't tend to be a similar thing that rises up in its place.
I'm expecting any collapse of the dollar to be followed immediately by a USD CBDC (fully tracked and centrally controlled).
People will beg for it if inflation is fast enough.
People will beg for it if inflation is fast enough.
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