BRICS now has five new members. They now represent a group with huge GDP and large amounts of natural resources.
by wakeup2019
BRICS now has five new members. They now represent a group with huge GDP and large amounts of natural resources.
by wakeup2019
13 comments
Lets hope some good comes from it.
The only country that matters in BRICS is Sawman Arabia.
I guess Kazakhstan was also willing to join
Bunch of winners there.
Autocratic and antidemocratic. With one exception.
All heavily indebted. Huge income disparities. Awful human rights records.
Mostly basket cases led by China
I mean this is kinda turning into a cold war Era again.
Why is this so threatening for so many people? A lot of these countries are usually at odds with each other, and if they can find some way to set them aside, what can be bad about it?
Let me know when they agree on a common currency. Until then 🥱
The main objective of BRICS is to establish a gold-backed currency to rival the US dollar. Currently the US holds 8,133 tons of gold, while the 10 members of BRICS hold 6,539.5 tons combined. They are still 1539.5 tons off their target.
[https://watcher.guru/news/u-s-has-more-gold-in-reserves-than-all-of-brics-combined](https://watcher.guru/news/u-s-has-more-gold-in-reserves-than-all-of-brics-combined)
(figures in the linked article are slightly out of date now that Argentina has declared it will not participate)
To surpass the US reserve, BRICS would need to include several additional members. However even under the barely imaginable circumstances that the alliance was able to include Taiwan (423.63 tons), Uzbekistan (377.28 tons), Kazakhstan (313.53 tons) and Lebanon (286.83 tons), they would still be more than 138 tons short. All the other major gold-holding nations are too closely aligned with the Euro.
[https://www.forbesindia.com/article/explainers/gold-reserves-by-country/90127/1](https://www.forbesindia.com/article/explainers/gold-reserves-by-country/90127/1)
North Korea is missing.
I get some of the hate, but wouldn’t we want the world largest democracy on our side? India seems like they would be a great alley to the US.
I live in a BRICS country. And I hope it could face the hegemony of US and Europe.
They explore and rob and bomb our countries every day, we are seeking an end to these crimes, nothing more than that. We want justice.
No more western supremacy.