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The US national debt is already grown by $1 trillion in a month (lemmy.ml)

submitted 1 year ago by yogthos@lemmy.ml to c/usa@lemmy.ml

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https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny

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[–] maynarkh@feddit.nl 1 points 1 year ago (1 children)

the BRICS currency.

Which currency might that be though? Don't get me wrong, I'd love to see a world where we don't have to pitch in to US spending by solely using dollars for trade, but I don't see any BRICS currencies being able to rise in the next 30 years to be even in the same league as the dollar.

[–] yogthos@lemmy.ml -1 points 1 year ago

The plan is to have a currency that's backed by a basket of commodities that BRICS countries produce. Given that BRICS countries are where most of commodities and manufacturing is located, I definitely see a rapid rise for such a currency. Especially coupled with projects like BRI that China is aggressively pushing. China will be building infrastructure in developing countries on a massive scale, and all the trade that will result from that will most likely be done in the BRICS currency.