Takumidesh@lemmy.worldtoWorld News@lemmy.ml•BRICS plans ‘multi-currency system’ to challenge US dollar dominance
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16 days agoIsn’t the first graph just general inflation? What does purchasing comparing purchasing power mean in this scenario? And how does it compare to other currencies like the pound or the euro?
Also the conclusion of the second article you linked seems to indicate that no other large scale currencies are replacing the shares of the US dollar, instead things like gold and diversified currencies are taking up this space, those don’t take the place for international trade.
Neither of these seem like a death knell for USD to me.
You keep posting this graph with no context, but the euro has also had very high inflation.
This is bad faith and you know it, that’s why you aren’t actually discussing it, just posting a misleading graph.
USD had 141% cumulative inflation since 1990
Euro has 115%
The pound has 143%
Brazil ( a member of brics) has nearly 1000% since 1994 (25 million percent from 1990 like the other countries.
China, arguably the biggest contender for stability in brics has 160% inflation.
Why aren’t you including charts for all of these countries? And why are you using a chart showing inflation values from before USD was used as the international currency in 1944 with the bretton woods conference, without demonstrating why that is important and what it means? Given that this is in the context of global currencies?