@lifegoalinvestments · Taylor Sohns- CFP®, CIMA®, MBA- Finance
Saved 2026-05-15 · Posted 2023-08-28 · Status: New
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⁉️
#brics #worldreservecurrency #usdollar #china #brazil #russia #india #southafrica #politics #economy #currency #finance #nyse #wallstreet #lifegoalnation #lifegoalinvestments
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Comments (15)
The BRICS are not attempting to establish a global currency. They are simply creating a mechanism to protect themselves from economic abuses by the United States.
You fail to see this because you're just another self-centered American who can't see beyond the end of your nose.
Bro you look unbelievably coked out
Americans lying to themselves under this post 😀America stop backing their currency with gold because Chin’ asked to see their gold and they didn’t have none 🤣brics countries can trade amongst themselves and still survive how will the Us survive?
Low IQ, if BRICS can't win replacing $, then why is the USA fighting everyone joining the BRICS? You are just an arrogant American thinking in a 2 megabytes capacity,...soon you will be buying BRICS against the dollar.😂
It has just been launched, let's wait and see what its impact will be, till then you guys apply ointment on your wounds
Ww3 ... Grid crash ... What shall it be🤷♂️
Africa would have a lot more resources available if you don’t keep funding militias and making hits on people who try to use them 😂😂😂
Taylor stop lying you need to Know about Minas Gerais Lands
👏👏👏
👏👏wowwo
I’m not sure if this makes me feel any better as we are technically looming over a world war 😂
Exactly it took a world war to change it.
Bold of you to assume the US actually has that amount. Last audit was how long ago?? 100?
Arrogant
But they have been buying gold for ten years stick piling it