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- cross-posted to:
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If it’s bad for the dollar it’s good for the world.
If it’s bad for oligarchs and the Vanguard it’s good for the world. They’ll use whatever currency they want it doesn’t have to be the dollar. That said the world shouldn’t be dependent on a currency they don’t control. Whether it’s the dollar or the. yuan.
A bit better than having a one single currency dominating virtually all global trade, but only so slightly.
Eeeeh, not really. I’m not particularly for a global currency. But a Global Currency that wasn’t controlled by oligarchs or a Vanguard. But instead by the global community. In a truly Democratic and representative way. Would be just fine. Though it’s not feasible In Our Lifetime our children’s lifetime or their children’s lifetime even at the very earliest. If ever.
Replacing the US with China and the dollar with the yuan. Is at best a lateral move. And is still going to see just as many people if not more exploited. Remember China has spent the last 50 years exploiting their own population hardcore. And are now expanding into doing it internationally just like the United States did. Worse when these two groups who are all at least starting to stagnate right now by the way. Decide that they want to send innocent proletariat to die in the name of their hoarded wealth and power. It will absolutely be worse for all of us.
Listen, if you think a BRICS currency won’t be controlled by oligarchs, you’re just fooling yourself. But at least there would be more oligarchs controlling things, not just a few Americans.
I think the best outcome of a BRICS currency is that, like in the Eurozone, a common currency nudges countries to cooperate more with each other instead of fight, and this can have a broader positive effect on other countries.
That’s specifically why I’m against BRICS and US hegemony. The euro zone is far from perfect. But it’s a pretty different beast from those two.
Probably best to ease into it when the financial infrastructure is in place and has matured and there is someone less reckless at the helm in the US. Right now no one wants to deal with McDonald Trump’s tantrums
