BRICS uprising: is the end of dollar dominance beginning?

BRICS uprising: is the end of dollar dominance beginning?

Explosion in the financial world! The BRICS countries, the major economic alliance of China, Russia and Iran, are instigating an uprising against the US dollar! More and more developing and emerging countries are planning to ban the dollar from their trade and instead rely on their own national currencies. The call for de-dollarization is getting louder, but the White House is left empty-handed! The odds are against the once dominant currency, which has to assert itself against new, local competitors watcher.guru reports.

The central banks of the BRICS countries are diversifying their reserves and turning away from the green power. This puts the dollar under great pressure because China and Co. rely on gold and other currencies. Cedric Chehab from Fitch Solutions makes it clear that this approach could help developing countries reduce the pressure on their foreign trade. China's influence is growing inexorably and with its economic strength comes political pressure to break the traditional dollar dictate.

Shock waves for US companies! If the BRICS follow through on their threat to avoid the dollar, entire sectors in the US could be affected, as the green giant could stumble. The former great powers need to be careful because the global economy is heading into stormy waters - and the dollar could go overboard! An exciting turning point in international monetary policy that is shaking up global financial markets.