BRICS earthquake: New world currency against the dollar – experts skeptical!

BRICS earthquake: New world currency against the dollar – experts skeptical!

A bang in the financial world! The BRICS alliance, consisting of Brazil, Russia, India, China and South Africa, is planning a new super currency to challenge the US dollar. This bold and audacious idea is being pushed forward primarily by the heavyweights China, Russia and Iran, which are struggling with tough US sanctions. They hope that their new miracle currency will dethrone the dollar as the world reserve currency. Meanwhile, India is retreating and sticking with the greenback, as Indian Foreign Minister S. Jaishankar has emphasized. Violent tensions between the members are inevitable!

But what do the professionals say when it comes to money? Two financial experts have delved into the future of this ominous BRICS currency. Michael Diaz from Miami is convinced: This new currency will collapse like a house of cards in the foreign exchange market, torn apart by national security concerns and conflicting interests. He sees no real threat to the dollar. Monteiro de Carvalho is similarly skeptical, saying that the BRICS efforts could lead to a fragmentation of international trade profiles. China in particular appears to be on the hunt for global markets as it works to form a bloc within the BRICS. It remains exciting as watcher.guru reports. Who will have the last laugh?