Che

[Che @bwhoopsfan]

@ElementaryWats @BowesChay In order to make a deduction, you have to be able to equate two values. One unit growth of GDP would not be negated by one unit growth in inflation, therefore you cannot make make the straight up equation.

Turkey is growing with w/ single-digit gdp, double-digit inf.

[Che @bwhoopsfan]

@ElementaryWats @BowesChay It does not look too obvious in this case but in some economies that had more than 100% inflation rate, your math would not make sense at all.

[Che @bwhoopsfan]

@ElementaryWats @BowesChay No idiot, stop trying to digress. How did you compute the -3.8% GDP. You just came up with an alternative measure to purchasing parity, maybe you should get a Noble prize.

[Che @bwhoopsfan]

@ElementaryWats @BowesChay Your the only economist that uses this idiotic formula, it does not even make sense.

[Che @bwhoopsfan]

@ElementaryWats @BowesChay Stop trying to spread your ignorance and try pass it on as knowledge. How did you come up with -3.8% again?

[Che @bwhoopsfan]

@ElementaryWats @BowesChay No idiot. These are two different numbers, the only relations is their both an estimate of economic health.

[Che @bwhoopsfan]

@ElementaryWats @BowesChay TWO DIFFERENT NUMBERS.

It is like deducting your age from the dollar amount, only you could make sense of it.

[Che @bwhoopsfan]

@ElementaryWats @BowesChay No idiot. No one would deduct the inflation rate from GDP growth rate. The best attempt is the purchasing parity which is still an estimate. You do not make a straight up deduction because they are two different numbers.

[Che @bwhoopsfan]

@ElementaryWats @BowesChay Voodo math. That's not how it works.

[Che @bwhoopsfan]

@RiotIncel @RealPepeEscobar No, common currency was never in the agenda. Nobody wants a "Euro" for the BRICS.

A "Euro" would be counterintuitive to the reasons for forming BRICS, and why other countries want to join it.

[Che @bwhoopsfan]

@JulesReality01 @ArcadiaEconomic @RiotIncel @RealPepeEscobar I think China and BRICS would want some sort of a reserve currency, and US dollar already has global acceptance and wide circulation.

Supplanting the US dollar is not easy, not necessary or even destabilizing and counterproductive. By default, USD plays an important role.

[Che @bwhoopsfan]

@RiotIncel @Kiwi_Bry @RealPepeEscobar I can imagine this unit of "currency" (sort of like the SDR) can be backed by a basket of currencies that would also include the US Dollar, Euro and/or Yen along with commodities.

This is like a stable ledger, sort of a block-chain.

[Che @bwhoopsfan]

@RiotIncel @Kiwi_Bry @RealPepeEscobar Eliminating the role of the US dollar as "the currency" is not without problems, BRICS probably hoped they can continue to use it but it has added too much externalities, uncertainties and costs to trading and doing business they have to find a new way to do it with a "currency".

[Che @bwhoopsfan]

@RiotIncel @Kiwi_Bry @RealPepeEscobar That "currency" is the US Dollar.

[Che @bwhoopsfan]

@RiotIncel @Kiwi_Bry @RealPepeEscobar They need this "currency" because the Dollar is increasingly adding externalities and constraints to conducting free transactions between BRICS members.

[Che @bwhoopsfan]

@RiotIncel @Kiwi_Bry @RealPepeEscobar I think what they're aiming for is a market unit of exchange that would be stable without any intervention from an institution. It is not really a currency but a market intermediary of sort to make conversions easy.

[Che @bwhoopsfan]

@Alex_Oloyede2 These morons think they can win every fight behind the keyboard, with their concept papers, the European industrial prowess, global access to the "European Market", and the almighty Euro.

[Che @bwhoopsfan]

@AF_LABS1 @philippilk @TuckerCarlson Who is "WE"?

[Che @bwhoopsfan]

@lavinia_colzani @Kiwi_Bry @RiotIncel @RealPepeEscobar There's always a political dimension to this but the basic issue remains, do we let people/countries transact their business freely based purely on "self-interest" or "mutual interest" without a 3rd-party interfering and adding additional costs to consummate the transaction?