Gold-backed BRICS foreign money might be ‘very exhausting’ to ship: Lyn Alden

Macroeconomist Lyn Alden has solid doubt on a proposal that might see 5 international locations work collectively to develop a typical BRICS foreign money — arguing it’s going to probably wrestle to get off the bottom and fail to dethrone america greenback.

In an interview with Cointelegraph simply days earlier than the BRICS annual summit in South Africa, Alden defined that it will be “very exhausting” for BRICS members — Brazil, Russia, India, China and South Africa — to kind a gold-backed foreign money for widespread use.

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