this post was submitted on 02 Aug 2023
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"This credit crunch, triggered by the fight against inflation in Western countries, is an important factor in the huge rush to join the BRICS group. Many crisis-ridden countries, such as Argentina and Venezuela, which are currently seeking membership, are simply hoping to tap alternative sources of financing – especially from China."

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[–] [email protected] 4 points 1 year ago* (last edited 1 year ago) (1 children)

Fight against inflation in Western countries?

Argentina inflation rate is 116% !!!

[–] [email protected] 1 points 1 year ago

Yeah this is the rumour that's circulating but there haven't been any formal announcements about BRICS currency.

[–] [email protected] 1 points 1 year ago (1 children)

Money and Macro has an excellent video clarifying this.

https://www.youtube.com/watch?v=49iLl-V4xos

[–] [email protected] 1 points 1 year ago

Here is an alternative Piped link(s): https://piped.video/watch?v=49iLl-V4xos

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[–] [email protected] -2 points 1 year ago* (last edited 1 year ago)

Yup, I can confirm this firsthand by quoting my South African friend:

Dude I don't give a shit, we just want to destroy the US and then invade Europe.

Pretty based stuff huh?