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The problem is that most valuable resources either would get ridiculous just on account of existence of such currency on a scale needed for backing a global currency (thing global shortage of gold for electronics) or are too variable in price themselves to be viable for it. As some mentioned...

They are less than they used to be... but they still are miles off places like Brazil, and it's not like the CCP is getting more trustworthy either.

I remember seeing threats of replacing the petrodollar over years and years, yet they never come to anything solid. To do this successfully, it requires trust and stability. It takes a lot of fantasy to describe any of the countries involved as trustworthy and stable, nevermind an opportunistic...

But where are they going to get those barrels? Russia doesn't make nearly enough for even half of them, and no one sane is going to trust this bunch to not manipulate the crap out of their currency for own benefit. If this bunch comes to any agreement in that regard, it's either going to be a...