Note that it has to do with the greed of the Western bankers. Many countries are trying to get out from under the Western banking system. BRICS is what that is all about.
Western banking has to do with 'paper'... contracts and agreements, that the Western banks convert into new money. That's really where inflation comes from. Once the BRICS nations realized this, their personal greed, and their wish for freedom from Western banks, caused them to get together under BRICS.
Will it work? Will they be able to throw off Western banking? The West has a more-than-100-year head start.
That's what this is all about.
Western banking has to do with 'paper'... contracts and agreements, that the Western banks convert into new money. That's really where inflation comes from. Once the BRICS nations realized this, their personal greed, and their wish for freedom from Western banks, caused them to get together under BRICS.
Will it work? Will they be able to throw off Western banking? The West has a more-than-100-year head start.
That's what this is all about.
They were people heavily speculating that BRICS was going to issue and circulate their new currency last year, and guess what? It never happened, because China wants to continue to have full control of it's economy without giving up their centralized, they like to have control over their Yuan, do the Communist party can devaluate the value of their currency to fit global markets and keep competitivy high in China. If China was completely up for the creation of an international coin, then they would start to lose power on that competitivy and the value of the coin.
The US dollar will continue to be unchallenged by China, because their ecomy relies on American companies taking advantage on the Yuan weakness against the American dollar.