@lifegoalinvestments: NYSE Traders share their thoughts on the BRICS countries creating a currency to replace the U.S. Dollar as the World Reserve Currency… What are the BRICS countries? Brazil, Russia, India, China, South Africa. What is the World Reserve Currency? It’s the currency that is involved in almost all international trade. What does the title of the World Reserve Currency mean for a country? It gives incredible economic power to the issuing country. Will the World Reserve currency change from the U.S. Dollar any time soon? No. Reasons: 1. U.S. has the largest and most stable economy in the world. 2. U.S. government and military is large and stable. 3. The idea of the BRICS countries, which have very different economies and political agendas, coming together from all corners of the globe to make unanimous decisions on a single currency is ridiculous. Further, backing your currency with a commodity (gold), that you don’t dominate is a recipe for disaster. 4. Even if it was a legit thought that could happen in the future, World Reserve Currency status doesn’t change overnight- the U.S. surpassed the UK for the largest economy in the world and the U.S. dollar didn’t become the WRC until 1944. CAN WE FINALLY PUT THIS ONE TO BED⁉️ #financetiktok #financetok #brics #worldreservecurrency #usdollar #china #brazil #russia #india #southafrica #politics #economy #currency #finance #nyse #wallstreet #lifegoalnation #lifegoalinvestments

Taylor Sohns

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Region: US

Monday 28 August 2023 14:57:14 GMT