Would a BRICS Common Currency Work?

God told me directly more than 2 months ago, that the dollar collapse is next year.

Seems that has changed, now that Saudi Arabia, India, and Emirates (+ about 14 additional countries) has decided to join the BRICS block, and oil purchases will no longer be via the PETRODOLLAR

Spoiler alert no

It takes time to get it right for Brics dollars. Meanwhile everyone trade with currency they are comfortable with, try not to use US dollars if possible.😂

Who cares? The US did not force the Dollar on the world, it wanted it. Go buy these other currecies, if you think it is so important. I'm not.

Saudi and Iran are coming to BRICS baby. Guess the Chinese finally united what the muricans wanted to keep in rivalry. Best wishes to Russia. To h3ll with NATO.

Roger you should have hundreds of thousands if not millions in audience but you have to be willing to engage your audience. I dont think you read any of the comments on here and never seen you once refer to them. I must say i was disappointed that you didnt respond to my comment on the US dollar few videos ago. Where I took the opposite view than you. You have smart audience which may provide you with different prospective that you may benefit from as well as them too. Its bonus that there isn't overwhelming amount of comments. Humble yourself Mr Hirst. As our Chinese friends say win win situation

BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.

Exchange of Currency among BRICS members ' LOCAL CURRENCY " is very complicated issue. the long- and short-run behavior of exchange rates between local currencies between members of BRICS are determine by the Labor and Capital. These factor can affect operating profit. Unlike the monopolar US Dollars , changes in the nominal dollar-foreign currency exchange rates tend to be about equal to the difference between the U.S. and foreign inflation rates in the price of traded goods.
If the U.S. inflation rate is 4% higher than Germany’s during the year, the deutsche mark will tend to strengthen approximately 4% against the dollar. This long-term relationship between exchange rates and price levels—usually called purchasing power parity (PPP)—implies that changes in competitiveness between countries, which would otherwise arise because of unequal inflation rates, tend to be offset by corresponding changes in exchange rates. In the short run of six months to several years, however, exchange rates are volatile and greatly influence the competitiveness of countries within BRICS alliance selling to the same market. It would be complicated in a multi-polar trading with various currencies within BRICS members.

Venham todos pro Brasil precisamos de imigrantes temos milhões de postos de trabalho e temos muita água limpa e muita comida todos são bem-vindos no Brasil 😊🇧🇷

Maybe BRICS will take a brake,China is starting to break the BRICS.

what is the tldr of this video?

Very much appreciated, thank you!

Patrick's video is a fantastic and simple to understand explanation of international trade finance and the value the United States has provided to post WWII economies the world over. This resulted in enormous economic growth for all involved.

The U.S. economy is huge, by any measure, and its unique position has been used mostly to act for the benefit of humanity. International relationships with the U.S. have mostly been win-win propositions. However China and Russia are pariah states that prey on both their own citizens and the rest of the world.

Imagine that Japan attacked the US in 1941. Six years later America became dedicated to aiding Japan in restoring their economy. Something that has benefited both.

The two biggest members of brics are close to killing each other, China and India, great way to start a new order..😂😂

Argentina's president wants to do away with their currency and switch to dollars, I don't think they have any interest in yuans, rupees or rubles.

Just made sure am not subscribed to your channel. Such biased opinions. You’re totally oblivious to how rest of the world is not happy about fed’s policies

Absolutely Not !
US Led Rate hikes led other countries to hike rates in their countries. Not everyone had to suffer because US sent Free Cheques to Americans

I think you're the first person I've heard that the US doesn't benefit from having the reserve curr6with no benefits, yea ok 😂

It might if the loonies (Putin, Xi, Modi) could agee.

Since this video, 6 other nations joined BRICKS including UAE

Fingers crossed. We certainly need an alternative to the current fiat system based on ever increasing levels of debt.

BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subiect to numerous economic, political, and logistical considerations.

Hello Patrick- wondering if you have a video on dollarization of economies, as in when countries shut down their central banks and their whole economies are run in dollars. Like Ecuador, etc. A presidential candidate in Argentina is proposing it and he may become president soon. Would love to collaborate for such video.

Other currencies are viewed as less stable than the dollar. For example: How would you like to loan money to Greece and they will pay you back at a later date in Lira? 😅😅😅😅😅

Brice is a joke

BRICS did not say they will create or use a common currency. This is all insinuated by the sinister biased western media. They say that BRICS said. But no! BRICS just don't want to be controlled by the dollar, so will reduce or cease using the dollar in their business transactions.

China will never be the world reserve currency if it demands such stringent controls on its financial system. You simply cant have it both ways.

As a Brazilian I can attest this BRICS thing is a joke.

Also we must consider that the strength of the yuan is tied to the dollar since we pay them in dollars so to drop the dollar in favor of Brics would also hurt their economy

wow, how insightful! i am an economist myself, but Patrick is out of this world. thank you, Patrick!

✝✝✝Because Satan rebelled against Yahuah, Satan cannot receive God's Blessing. By USG Sponsored CIA and Satanism / Ba’al, U.S. America Babylon has chosen to rebel against God and can't receive God's Blessings. Satan led Goats Moor Goats P6B8E0 Sow Evil and Reap Book of Jeremiah / Habakkuk Judgments upon USA. The Lord rebuke you, Satan. "19 But I say, Did not Israel know? First Moses saith, I will provoke you to jealousy by them that are no people, and by a foolish nation I will anger you. 20 But Isaiah is very bold, and saith, I was found of them that sought me not; I was made manifest unto them that asked not after me. 21 But to Israel he saith, All day long I have stretched forth my hands unto a disobedient and gainsaying people." (ROMANS 10:19-21) The Perfect Permanent Above All Measure Irreversible Final Blessing Passes to BRICS to the Saving of Billions of People, in Yeshua's name. ✝✝

Why not yuan instead of brics..

I want yuan..

Imagine trusting the CCP with your money 😂

I know NOTHING about economics or currencies but I do know that NONE of the BRICS nations share a common ideology, or common cause. They all have their own ideologies and interests which conflict with one another. Is it possible for them to build a stable currency?

Answer = No, the Brics common currency will not work.

Patrick India will definitely join this currency to f *ck with it and take it apart from the inside :)

BRICS is a joke

This is an effectively impossible proposition. There's a huge difference between countries trading in their own currencies and them unifying to create a joint currency!
1. A currency to be used only in international trade is not a real currency. Unless the countries adopt it nationally it has no effective legitimacy.
2. China and india hate each other and would never agree to give up any autonomy.
3. Russia and SA are on the verge of collapse and staring down the barrel of a decade or more of turmoil.
4. Brazil has been an economic and political yoyo for a long time now.
5. China has an uncertain future at this point and has been fudging their economic numbers for decades. Being party to a currency union opens them up to more scrutiny on this front and failure to open up the books would probably nip this in the bud.
That's just off the top of my head and not going too deep into things. There are manifold reasons why this is not feasible.
Given how quickly this idea can be torn apart, I imagine that it is being put out there purely for propaganda purposes. 🤔 It might play well at home in said countries, especially to a population that has limited knowledge of economic and monetary theory.

Gold worked? What a surprise!

It’s laughable to think that they could have a common currency. Anyone who floats that clearly doesn’t understand currency or politics

If these western economists knew what they were doing there would have been no financial crisis.
Nobody can see the future especially not these economists.
And most westerners underestimate the will of the South to break free of their control.
Let's wait and see

Look if they ( Brice) want to use their money . I believe that this countries would want to trade the dollars they have for gold , the USA would not be able to cover all those dollars with the gold they have . The USA n nato have shot their foot

most transparent system with everytime increase in credit celing USA can literally print any amount of money if they keep on changing credit cieling so what do u think world will do at some point of time world will de-dollarize it is bound to happen..

BRICS currency..
What a joke!!! Hahaha

No empire did What USA doing when they are falling...