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Keyword: worldreservecurrency

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  • vanity - downsides to world reserve currency? aka, any reasons BRICS would NOT want to be world reserve?

    04/26/2023 10:38:57 AM PDT · by NewJerseyJoe · 25 replies
    self | 4/26/23 | NewJerseyJoe
    Hello fellow FReepers, would love to pick your brain on a topic I've been thinking about. Are there any reasons why BRICS would NOT want to be the world reserve currency? Are there responsibilities and burdens that would become theirs, should they succeed in doing this? Seems to me that, since the U.S. dollar became the world reserve currency, it is the U.S. that has shouldered the brunt of every (or most) debt, war, international bailout, humanitarian aid, and so forth. If BRICS should succeed, wouldn't these responsibilities/liabilities then transfer to them? This is not a question of "Will or...