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Local Currencies To Replace Dollar For 5 Countries' Dealings

An anonymous reader writes "Brazil, Russia, India, China and South Africa — the BRICS group of fastest growing economies — signed an agreement to use their own currencies instead of the predominant US dollar in issuing credit or grants to each other. The world does need a new financial architecture, but the BRICS by themselves are unlikely to be able to drive that change."

3 of 519 comments (clear)

  1. No worries fellow Americans! by Concerned+Onlooker · · Score: 1, Troll

    Not to worry. The multi-national corporations, so highly revered by many Americans, will survive just fine by simply moving operations completely out of the US and into whatever country suits them. So, it's not all grim!

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    http://www.rootstrikers.org/
  2. Re:Bad News for USD by superwiz · · Score: 0, Troll

    USD is currently experiencing a 10% inflation. Since the bulk of inflationary pressures caused by the US Gov spending was expected to kick in throughout 2011, it's only expected to get worse.

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    Any guest worker system is indistinguishable from indentured servitude.
  3. Re:Bad News for USD by Dunbal · · Score: 0, Troll

    Most sheep have no idea about anything. I mean it stands to reason that if you're somewhere on the right side of the normal curve, there is a hell of a lot of people to the left of you. Remember that it's a zero sum game. Lots of people need to lose a little money in order for us to make money, so actually educating them is counter-productive to us.

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    Seven puppies were harmed during the making of this post.