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Patrick says

The BRICS should all simply declare that their currency is 100% backed by silver by weight, instantly redeemable at any time.

As long as they always make good on the redemption promise, their currency will kill the dollar.

On the other hand, they also like the power to simply print money, so they're not likely to give that up.

They won't. Because in reality, having the world's reserve currency pretty much kills your exports. So, you would have to be a nation that doesn't engage much on foreign trade like the US (just 10% to 16% of total GDP is in imports/exports and half that is with Canada and Mexico).

Thus Asia, the EU and most other nations would not want to have a currency that is also the reserve currency.

India might, as it has a pretty closed economy still.

So this BRICS bullshit is all a joke.

Patrick says

The BRICS should all simply declare that their currency is 100% backed by silver by weight, instantly redeemable at any time.

As long as they always make good on the redemption promise, ...

Herein lies the rub....

Apropos, interesting take on Chinese banking from Zeihan: https://m.youtube.com/watch?v=5_zHjll1M3s

https://babylonbee.com/cleanArticle/president-xi-confirms-chinese-ban-on-bibles-does-not-apply-to-the-message