Hacker News Reader

Comment by gjpolly | Hacker News Reader

BRICS is the new reserve currency. America pushed too hard on bad policies, poor public sector services, unaffordable health care, and lower education standards... there's no coming back from that.

View on HN

> BRICS is the new reserve currency

and then you say:

> America pushed too hard on bad policies, poor public sector services, unaffordable health care, and lower education standards... there's no coming back from that.

Yes, because BRICS doesn't have any of these issues...

USD will be the reserve currency because even if United States has its own problems, it is still better than the rest of the world.

America as a reserve currency is based on debt. BRICS (from what I understand) is based on assets.

I don't think people are lining up to store their value in Rand, Real, Roebels or Rupees (but maybe Yuan). I know the US is devaluing the dollar all the time but still if i have to choose between keeping my savings in Rand or US Dollars that is a easy choice. But i'd take Krugerrands over Dollars.

Crypto’s largest use-case aside from retail gambling is to facilitation of capital control evasion in Asian countries, notably China. By and large the flight is into dollars.

You could have said 'Renminbi' instead of 'Yuan' to keep the alliteration going.

BRICS economy is as strong as US economy is. If the US financially collapses, so will BRICS.

The idea that Brazil will have a more stable currency than the dollar is a hilarious inversion of reality.

What's the current exchange rate for that currency??

B for Bloody Chaos

R for Russian Invaders

I for Indian Corruption

C for China CCP...?

S for South Africa Minor, since it has the smallest GDP in this list. Arguably probably the best one of the 5 to live in.

Reply on news.ycombinator.com