Why? The BRICs system is incapable of success, they don't have enough peices to make it work... By pushing it, the real motive / outcome will be it will tank the global financial system.
In what world does this make any rational sense to you?
Have you looked at the almighty us dollar? Do you have a clue what you are talking about? The overall decline in value of the dollar since its inception is the valid signal to its state.
When you consider that the debt and production of value is where it is, you should be more informed.
The loss of the petrol dollar feature is yet to arrive. It will more than sting.
Couple that to the printing presses and inflation you are looking at some serious continual decline. Death throes.
Reserve currency status is the final feature, and it is eroding at a pace globally that has people much smarter than you concerned.
Not to mention, it is right at the ripe age of replacement according to historical currencies.
Don't worry, it won't happen overnight. Two weeks.
There is not YET (as of today or next year) replacement for:
US/EU/UK/AUS/CAN/NZ consumer mass (all producers EXPORT to these countries and currently need their currencies to run their own economies/debt servicing)
SWIFT/G7-banking/financing/rehypo markets/LC instruments/the whole financial system for global trade clearing
A deep enough currency base to replace USD without crashing/spiking individual currencies used (ie. a liquid pool of reserves for global trade that is not USD)
Protection of the trade routes that the G7 (mainly USA) armies guarantee.
few other smaller bits and pieces
The current world trade of real goods runs as a vendor financing system from producing countries (BRICS++) to consuming countries (G7++), while the financial economy debt creation flows the other way.
When this chain is broken and replaced, then the world can rid itself of the curse of the USD (and replace with another curse).
In what world does this make any rational sense to you?
Have you looked at the almighty us dollar? Do you have a clue what you are talking about? The overall decline in value of the dollar since its inception is the valid signal to its state.
When you consider that the debt and production of value is where it is, you should be more informed.
The loss of the petrol dollar feature is yet to arrive. It will more than sting.
Couple that to the printing presses and inflation you are looking at some serious continual decline. Death throes.
Reserve currency status is the final feature, and it is eroding at a pace globally that has people much smarter than you concerned.
Not to mention, it is right at the ripe age of replacement according to historical currencies.
Don't worry, it won't happen overnight. Two weeks.
You are right, but that'll take time.
Why?
Read my comment below ("No, you misread...").
In short:
There is not YET (as of today or next year) replacement for:
US/EU/UK/AUS/CAN/NZ consumer mass (all producers EXPORT to these countries and currently need their currencies to run their own economies/debt servicing)
SWIFT/G7-banking/financing/rehypo markets/LC instruments/the whole financial system for global trade clearing
A deep enough currency base to replace USD without crashing/spiking individual currencies used (ie. a liquid pool of reserves for global trade that is not USD)
Protection of the trade routes that the G7 (mainly USA) armies guarantee.
The current world trade of real goods runs as a vendor financing system from producing countries (BRICS++) to consuming countries (G7++), while the financial economy debt creation flows the other way.
When this chain is broken and replaced, then the world can rid itself of the curse of the USD (and replace with another curse).