/biz/ - Business & Finance

Every single of the so-called "BRICS" countries is a failed state that is dependent on the U.S. dollars that only one institution can create = the U.S. banking system backed by the U.S. Federal Reserve chartered by the U.S. Congress. With the exception of the onshore Yuan (CNY), which is non-convertible, all of the currencies have lost significantly in the last 30-50 years to the USD, and all of these countries are dependent on USD-denominated exports cash revenue to back their own currencies - which so far only China succeeded at, but at a cost of sacrificing free currency rate.