Everyone says USD will be replaced by a BRICS currency

my investment strategy bets against what most people think.. because most people end up broke

let's look at why USD will not be replaced by BRICS and what I'm investing in 👇🧵

people think USD is the world reserve currency solely because countries use it to sell oil

this is not true..

USD became the reserve currency in 1944, the petrodollar agreement was made 30 years later in 1973

It started in 1944, countries agreed to peg their currencies to USD, which was pegged to gold at a fixed exchange rate

this made USD the world reserve currency, since other countries needed to hold USD reserves in order to maintain the value of their own currencies

The gold standard ended but USD remained preferred because:

- Strength and soundness of Americas economy
- Federal Reserve is the most disciplined out of all other central banks
- Military superpower
- Deep liquidity for international trade
- Geopolitical advantages

Now let's look at the competition:

China - authoritarian/social credit system
Russia - dictatorship/war
Brazil - political/economic instability
India - corruption
South Africa - Crime/Corruption
Iran - dictatorship/hyperinflation
Saudi Arabia - monarchy

Is this really better?

BuT GoLd bAcKeD cUrrEnCy!!

we already tried that.. gold backed currencies do not work.

governments steal the gold or just print more paper!

plus USA still has more gold than all of the BRICS countries combined!!

don't get me wrong.. USD has already failed

but I don't believe it will be replaced by another shitcoin government currency

it's already been replaced by bitcoin

A trustless currency that can't be debased or censored

it is better than gold, fiat, and gold and fiat combined

Spank the like button and retweet the thread if you learned something new 🫶

and follow me to stay updated on the digital revolution 🚀