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BRICS miracle currency: The dream of China and Russia is bursting!
Standard Chartered considers BRICS currency 'a fantasy'; The US dollar remains the dominant world reserve currency.
BRICS miracle currency: The dream of China and Russia is bursting!
A money dream is exposed! The world was eagerly awaiting a new BRICS currency that could supposedly dethrone the US dollar from its global throne. But now the mighty hammer of reality strikes! The renowned investment bank Standard Chartered throws an ice-cold bucket of water in the face of the plans and simply calls the BRICS currency a “fantasy”. The US dollar still reigns supreme and secures more than half of the world's currency reserves. The global trends? The dollar shows no signs of weakness!
Eric Robertsen, head of the global research team at Standard Chartered, draws clear lines: “The BRICS dream is nothing more than a fairy tale!” If you think the world is ready to simply ditch the dollar, you are very much mistaken, says Robertsen emphatically according to information from watcher.guru.
The rumor mill was particularly bubbling when Russian President Putin flashed the concept of a BRICS currency across the screen at the 16th summit - just hot air, as it turns out! No official currency, no new sheriff in the world of money - just a political bang. Russia and China fuel the imagination, but the loss of the dollar as a dominant force in the global economy remains a long way off.