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BRICS attacks dollar: 65% of trades without US currency!
BRICS uses 65% domestic currencies for trade, US dollar decline. Impact on global and US economy?
BRICS attacks dollar: 65% of trades without US currency!
Beware, dollar dominance is in danger! Russia has confirmed it: BRICS – the alliance of Brazil, Russia, India, China and South Africa – is saying goodbye to the green bill! Over 65% of their trade transactions are now carried out in local currencies, no longer in US dollars, as Foreign Minister Sergey Lavrov proudly announced in Brazil. Only a third of all transactions are settled in dollars. The reason? BRICS protects its economy against US sanctions and tariffs, reported watcher.guru!
During the recent meeting of BRICS finance ministers and central bank heads, it became clear: the plan to create independent payment systems is in full swing. Local currencies are all the rage, the dollar is losing its luster. At the Kazan Summit Conference it was decided to continue to stubbornly push for local currencies in trade, a task that cannot be put off for a long time. And that's not all - countries in Africa, Eastern Europe and Asia are also in the starting blocks and could follow the big dollar goodbye.
The consequences? Dollar-based chaos looms if Washington fails to keep its money flowing globally. News of the dollar's slow death is spreading like wildfire, raising concerns about the future of its global dominance. America, you are at a crossroads - what role the dollar plays in the future is up to you!