Get the "Ultimate Guide to Bitcoin" course:https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoinUse the discount code YT99 to get the best price. In this video, I discuss the BRICS+ countries' proposals for a new currency to rival the US dollar, and how the emergence of a global Bitcoin standard fits into the picture.A new BRICS currency that is backed by a basket of these countries' fiat currencies would probably continue to depreciate sharply against the USD, just as the individual currencies have done over the past 15 years.A new BRICS currency that is backed by gold or a basket of commodities would run into similar problems as the gold standard:Who gets to hold the commodities that back the currency?Who gets to audit the supply?Why should we trust the auditor?BRICS-Coin would be an odd rag tag alliance between a bunch of countries that don't really like each other or have much in common apart from a common hatred of the weaponization of the US dollar.For these reasons, I expect the US dollar to maintain its preeminence, but to slowly transition to a global Bitcoin standard, as the USD continues to lose purchasing power against BTC-- and as countries discover that Bitcoin is the perfect reserve asset for settling trade surpluses and facilitating global trade.Not investment advice! Consult a financial advisor.China and Brazil reach RMB-based trade deal:https://asiatimes.com/2023/03/china-and-brazil-reach-rmb-based-trade-deal/India's oil deals with Russia dent decades-old dollar dominance:https://www.reuters.com/markets/currencies/indias-oil-deals-with-russia-dent-decades-old-dollar-dominance-2023-03-08/BRICS as reserve currency:https://think.ing.com/opinions/brics-the-new-name-in-reserve-currenciesBRICS Nations Developing "New Currency" As Quest For Global De-Dollarization Accelerates:https://www.zerohedge.com/geopolitical/brics-nations-developing-new-currency-quest-global-de-dollarization-acceleratesShould Bitcoin Be Backed By Something?https://www.youtube.com/watch?v=E6pGmGESjHw&ab_channel=BitcoinUniversityBRIC nations propose cryptocurrency for payment settlement system:https://decrypt.co/11562/bric-nations-propose-cryptocurrency-for-payment-settlement-systemI am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.#Bitcoin#brics #usd DisclaimerNeither Bitcoin University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisors, registered investment advisors, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading....https://www.youtube.com/watch?v=YMEN5RZHJms