“Brics Currency” Thrusts US TikTokkers Into Panic Over Despite Experts Minimising Likelihood
- American TikTokkers have been sent over the edge by the prospect of a common Brics currency
- Brazillian President Luiz Inácio Lula da Silva proposed the idea at the 15th Brics summit in Johannesburg
- Experts have undercut the establishment of a Brics currency, claiming that the differences between the Brics countries are too steep
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JOHANNESBURG - Brazillian President Luiz Inácio Lula da Silva has sent US TikTokkers into full panic mode after suggesting a new common currency at the 15th Brics Summit in Johannesburg.
Source: Getty Images
On Wednesday, 23 August, President Da Silva proposed that countries in the Brics Bloc - Brazil, Russia, India, China and South Africa - create a common currency for trade and investment among each other.
TikTokkers sound alarm on proposed Brics currency
The proposal lit social media on fire, with many American users making doomsday prophecies about the proposed Brics currency's effect on the US Dollar.
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One particularly creative TikTokker, @iamfayemissss, made a catchy rap video in which she claimed that the Brics currency could dethrone the US dollar.
The TikTokker claimed that establishing the currency would thrust US citizens into poverty because expenses would skyrocket.
Rich Dad Poor Dad author and Japanese-American entrepreneur Robert Kiyosaki also weighed in on the conversation, warning that the world has grown tired of US financial domination and the Brics bloc has banded together and is gaining momentum.
Experts downplay Brics currency
While the global north has been sent into a tailspin, the likelihood of a Brics currency being established anytime soon has been minimised by many economists.
Future Forex CEO Harry Scherzer said that setting up the currency would be an uphill battle because the countries in the Bloc have vastly differing economic circumstances and populations, BusinessTech reported.
The other Brics Bloc leaders have indicated that they would use their national currencies for trade with each other instead of the dollar.
Mzansi amused by US TikTokkers' meltdown
Below are some comments:
@DON_PAPICHUL0 asked:
"Where are they getting 55 dollars from?"
@palesadali said:
"The rapper girl... but anyway, we’ve been subjected to crazy exchange rates our whole lives so..."
@Sakhile_M_ laughed:
"What is killing me is that they keep referring to the proposed Brics currency as the 'Brics DOLLAR'. Even in panic, they still can’t resist including themselves."
@ThatoD01 added:
"This is comedy gold! Absolutely made my day! I'm loving the panic so much."
Brics Summit brings business boom
Earlier, Briefly News reported that business is booming in Sandton, Johannesburg, and it is all thanks to the 15th Brics Summit.
The restaurants and hotels surrounding the Sandton Convention Centre are struggling to keep up with droves of delegates and tourists who have converged on Africa's wealthiest square mile for the summit.
The summit officially ended on Thursday, 24 August.
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Source: Briefly News
