BRICS avoiding US dollars and transaction platforms

[I Shrugged]

This whole idea of dollar/US systems workarounds seems like a good setup for a Minsky Moment. A really, really big one.

Anyway, here is an interesting 8 minute video report on the concerns of American agriculture arising from the BRICS countries opting out of the establishment (US) trading system.

[Smith1776]

Very interesting video. I do see things like this from time to time. It's usually a knowledgeable and well-spoken individual telling us that there are cracks in the current system and that it will be supplanted any day now. Unfortunately they also remind me of those breakthrough advances in cancer research that come along once every couple years, only to never be heard from again.

I like the analysis though, and the ideas seem credible, so hopefully that's just my unnecessary cynicism coming out. Interesting how he concludes that distributed ledgers and the like are the technological tip of the spear that will enable these changes.

[I Shrugged]

It’s not clear to me what they are using for payments in lieu of dollars.

[dualstow]

It’s not clear to me what they are using for payments in lieu of dollars.

Renminbi maybe?

[I Shrugged]

It’s not clear to me what they are using for payments in lieu of dollars.

Renminbi maybe?

Maybe if China is a party to the transaction.

[dualstow]

But maybe even if not.