Comments by "AQuietNight" (@AQuietNight) on "BRICS Moves To Launch A New Reserve Currency" video.

  1. The only thing that would make BRICS bucks worthwhile is gold backing. Commodities change in value based on demand where gold is relatively stable. The problem with gold is it's great while you run up trade surpluses, but hell when you run up trade deficits. In the case of China right now they are pulling in money from trade but I am sure they know in the future nationalism and regionalism will push the creation of industry in developing countries which reduce the demand for Chinese made goods. This will cause an outflow of gold reducing the value of BRICS bucks for China. The basket of commodities probably won't work over the long term as the value of oil, iron ore and copper change. A country selling copper ore may not want to be tied to a country exporting oil if the price of oil drops due to new oil fields opening up. And there is still large reserves to be tapped.
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