- Joined
- Feb 19, 2022
- Messages
- 2,439
- Reaction score
- 1,513
https://www.google.com/amp/s/m.jpost.com/breaking-news/article-713589/amp
Argentina is already approved to join. Population 47 million, tons of resources, smart population.
Countries that want in
Algeria -45 million people. Has oil, gas
Saudi Arabia - tons of crude oil. Population 35 million
Iran - Population 85 million. Tons of resources too many to name.
Turkey (rumored but unlikely)
Egypt -
"""In their current form the BRICS make up around 31.5% of world GDP when adjusted on a purchasing power parity basis. With Iran and Argentina added, this rises to 33% of world GDP. This is a huge potential trade bloc, and 33% of global GDP is certainly enough to justify a reserve currency.
But beyond this, the potential for synergies between the countries is enormous. Taken together, the expanded BRICS countries currently produce around 26% of global oil output and 50% of iron ore production used to make steel. They produce around 40% of global corn production and 46% of global wheat production. If these were all traded in the new reserve currency, it would instantly become a cornerstone of the world economy.
Meanwhile, the US dollar is already sagging. At the beginning of June, the IMF released a report showing that the US dollar today makes up 59% of global reserves — a far cry from the 70% it made up in 1999. The report noted that central bank reserve managers were actively shifting their portfolios away from dollars and into non-traditional currencies.
Now imagine what that would look that if the BRICS launched its reserve currency — let’s call it the ‘BRIC’. Assume that the BRIC was held as a reserve roughly in line with the bloc’s importance in terms of global GDP and that it took a bite out of all other reserve holdings equally. The impact would look something like the chart below. As we can see, even this simple exercise shows that the BRIC would easily hold its own against the US dollar."""
https://unherd.com/thepost/the-new-brics-alliance-is-a-mortal-threat-to-the-west/
Argentina is already approved to join. Population 47 million, tons of resources, smart population.
Countries that want in
Algeria -45 million people. Has oil, gas
Saudi Arabia - tons of crude oil. Population 35 million
Iran - Population 85 million. Tons of resources too many to name.
Turkey (rumored but unlikely)
Egypt -
"""In their current form the BRICS make up around 31.5% of world GDP when adjusted on a purchasing power parity basis. With Iran and Argentina added, this rises to 33% of world GDP. This is a huge potential trade bloc, and 33% of global GDP is certainly enough to justify a reserve currency.
But beyond this, the potential for synergies between the countries is enormous. Taken together, the expanded BRICS countries currently produce around 26% of global oil output and 50% of iron ore production used to make steel. They produce around 40% of global corn production and 46% of global wheat production. If these were all traded in the new reserve currency, it would instantly become a cornerstone of the world economy.
Meanwhile, the US dollar is already sagging. At the beginning of June, the IMF released a report showing that the US dollar today makes up 59% of global reserves — a far cry from the 70% it made up in 1999. The report noted that central bank reserve managers were actively shifting their portfolios away from dollars and into non-traditional currencies.
Now imagine what that would look that if the BRICS launched its reserve currency — let’s call it the ‘BRIC’. Assume that the BRIC was held as a reserve roughly in line with the bloc’s importance in terms of global GDP and that it took a bite out of all other reserve holdings equally. The impact would look something like the chart below. As we can see, even this simple exercise shows that the BRIC would easily hold its own against the US dollar."""
https://unherd.com/thepost/the-new-brics-alliance-is-a-mortal-threat-to-the-west/
Last edited:
![[omg1]](https://i.imgur.com/x6i0hRy.png "omg [omg1]")
