Brainstorming; Brics Currencies Money Paradoxes: Gold Standardized Money System, Why it changed to a Sustainable Sovereign Debt Standardized Currency System - A Study of the History of the World Financial System.
Journal Title: International Journal of Social Science And Human Research - Year 2024, Vol 7, Issue 11
Abstract
The distribution of money was transformed into the concept of debt in various forms, including the use of money as an instrument of loans and gifts. The rules of money have completely changed and are heavily skewed towards the benefit of the rich and powerful. Has begun. The US dollar is no longer money, but a currency. The Britton Woods agreement, the gold-standard dollar is over... We Gave Our Word To You But We Don't Have To Keep It1 The dollar became Monopoly Money. After that, the biggest economic boom in history began. In 2009, when the economy ran aground, the central bankers of the world created trillions of dollars, yen, pesos, euros, and pounds by following the bankers' monopoly. This concept has changed to this day. Investors are panning nothingness into existence. To this day, Investors do not carry piles of money in suitcases, only the game of money in a space called financial institutions (banks and non-banks). The escalation of financial investment dragged the country into debt because the country's economic strength was supported by printing debt securities faster to make money, so the government needed more money than savings.2 BRICS is heading towards the elimination of fiat money, preventing member countries from falling into debt. Returning the existence of currency to its history, namely money as a medium of exchange, not a means of payment (fiat money). The essence of the idea of the birth of new money for BRICS members is a clever concept of distorting debt-based money. It is better to have a lot of receivables than to have a lot of debts. This study aims to understand the transition from the gold standard system to a sovereign debt-based system, specifically within the context of currency and economic influence of BRICS countries (Brazil, Russia, India, China, and South Africa). Against the backdrop of a global economy shifting from precious metals to fiat and debt-based currencies, this research will examine the complexities and paradoxes behind this change and its impact on current economic stability and sustainability
Authors and Affiliations
Dr Agus Pandoman
Keywords
Related Articles
- EP ID EP752241
- DOI 10.47191/ijsshr/v7-i11-81
- Views 1
- Downloads 0
The Sang Hyang Kelor Ritual in Lembongan Village, Klungkung, Bali
The purpose of this article was to find out the form of the Sang Hyang Kelor ritual in Bali. The ritual of Sang Hyang kelor is known as dewa yadnya. However, this ritual seems to be preserved only by the people of Lembon...
Relationship between Self-Efficacy, Organizational Climate, Work Commitment and Organizational Citizenship Behavior (OCB) of Public Junior High School Teachers in North Banjarmasin District
The purpose of this study is to analyze the direct and indirect relationship between Self-Efficacy, Organizational Climate, Work Commitment and Organizational Citizenship Behavior (OCB) of SMPN teachers in North Banjarma...
A Lowdown on Gender-Lag in the Moroccan Society: The Road Ahead
Women’s social and political rights have invariably been a focal point of discussion and debate in academic and political encounters. Currently, the issue of women’s rights, far from being a third-rail issue, is an extre...
Training Quality Management and Management of Teacher Training: an Overview of Research Initiatives in Vietnam
Training quality in general, and training quality management in particular, play a critical role in educational growth, representing not only the current level of educational development but also serving as the foundatio...
The Power of Proof of an Online Arisan Agreement in the Verdict of PKPU Number 10/Pdt-Sus-PKPU/2021/Pn.Smg in Accordance with the Theory ofLegal Positivism and Justice
This thesis is entitled "The Strength of Proof of Online Arisan Agreements in PKPU Decision Number 10/Pdt-Sus-PKPU/2021/PN.Smg Seen from the Theory of Legal Positivism and Justice". This thesis aims to find out and exami...