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BRICS summit: New global currency threatens America's economic power!
BRICS may want to replace the US dollar: implications for the financial system, trade and consumer goods in the USA.
BRICS summit: New global currency threatens America's economic power!
Be careful, a financial revolution is on the horizon! At the 16th BRICS summit in the Russian region of Kazan, 40 participating countries experienced a bang: a BRICS currency is to be created that could challenge the US dollar! This development could make big headlines for the US as three key economic sectors are now under pressure, as watcher.guru reported.
Banking, international trade and investment, as well as the consumer goods and retail markets are likely to be massively affected if the BRICS pact withdraws the dollar for trade. Particularly tricky: The banking world could falter as the dollar could be replaced as the international trading currency. This is likely to cause the US financial system to tremble. When it comes to international trade and investment, the new BRICS currency could redefine the rules of the game and thus displace the dollar. Demand for the green bill could collapse – a nightmare that would result in hyperinflation!
Prices in the consumer goods and retail sectors could explode if the US system enters a wave of hyperinflation. Daily life in the US could become unaffordable while job losses threaten. Is the dollar at the end of its hegemony? It remains to be seen how the situation will develop and what consequences will follow.