Volume 07 Issue 11 November 2024
Dr Agus Pandoman
Widya Mataram University, Yogyakarta
DOI : https://doi.org/10.47191/ijsshr/v7-i11-81Google Scholar Download Pdf
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
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INTERNET
1) https://www.antaranews.com/berita/4424289/apa-itu-mata-uang-brics-dan-tujuannya(what-is-brics-currency-and-its-purpose).
2) https://www.cnbcindonesia.com/news/20241025091550-8-582973/video-menakar-untung-rugi-ri-jadi-mitra-brics.
SITUS INVESTOPEDIA
1) Economic History Association. " Money in the American Colonies https://eh.net/encyclopedia/money-in-the-american-colonies/
2) American Numismatic Society. " History of American Currency https://numismatics.org/a-history-of-american-currency
3) Geneva Historical Society. " Currency, Finance, and the Civil War https://historicgeneva.org/business-and-labor/currency-finance-and-the-civil-war/
4) United States Department of the Treasury Bureau of Engraving and Printing. " BEP History Fact Sheet https://www.bep.gov/
5) Queen's University. “The Return of the US Dollar/Gold and Hopes for Its Recovery 1862-1879. 6. Museum of the American Treasury. “Greenback https://www.ecom.queensu.ca/sites/econ.equeensu.ca/files/qed_wp_1225.
6) HW.Brands. Greenback Planet: How the Dollar Conquered the World and Threatened Civilization as We Know It https://books.google.co.id/books/about/Greenback_Planet.html?id=p3IweU12jH0C&redir_esc=y
7) Museum of American Finance. " Greenback.https://www.moaf.org/exhibits/checks_balances/abraham-lincoln/greenback
