## The BRICS financial system, hope or WW3?

Roberto A. Foglietta
GNU/Linux Expert and Innovation Supporter
Published Jun 7, 2024

### The BRICS economics, soon a financial and a monetary systems.

Suggestions? Few but relevant.

1. Use the "BTC as digital gold" backup for those assets that should be traded 
   or issued in a strictly limited volume and should be electronic because it
   makes sense to backup material with material and digital with digital.

2. In issuing a currency, avoid the fiat-currency. Whatever you might think
   about it, the fiat-currency always lead to a political-warfare approach. 
   A fiat-currency without an army ready to defend it, it is just numbers into
   some kind of book digital or physical.

3. We all know that gold is not enough to backup the value of the currency when
   it should be issued in great volume and sometimes, it is necessary temporarily
   for stabilize the system. Hence, a multiple commodity reserve should be created
   as a backup: gold, silver, copper, oil, gas, etc.

4. A commodities reserve to backup a currency can be indexed (or balanced) with
   an electronic currency, and again, the Bitcoin is the best in class for this
   role while all the other are just numbers.

5. A new financial system and international transactions platform can be based on
   Ethereum because it offers a distributed infrastrutture and smart contracts.
   Two characteristics that fulfill the need for an independent and autonomous
   financial platform.

### The true alternative

In the same moment that a part of the world, the Western, insists in imposing their
fiat currency and financial system on all the other countries in the world, the
alternative is not creating a similar system against it.

In this way, the world will be spitted in two halves and both with a financial
paradigm that implies the need to defend their own choice with the army. Thus,
soon or later, leading to an inevitable war.

We all, know where this approach will bring us, to the WW3.

Instead, a true open as open access, free as freedom, independent like distributed
ledgers, monetary and financial system would be a complete different thing. A
true alternative, something that it can be leveraged by anyone in the world.

> The best war is the one that is not fought. --Sun Tzu.

The alternative is not about winning or losing, but between war and peace.

## Share alike

© 2024, Roberto A. Foglietta, licensed under Creative Common Attribution Non
        Commercial Share Alike v4.0 International Terms (CC BY-NC-SA 4.0).