BRICS attacks: US dollar loses ground – What does this mean for the USA?

BRICS attacks: US dollar loses ground – What does this mean for the USA?

Bomb in international payments! The mighty US dollar, once the undisputed king, is wobbling. The latest bombshell: Global transactions in US dollars fell below 50% for the first time in October 2024! Who would have thought? The reason for this dramatic decline? BRICS, the alliance of emerging economies, doesn't give a damn about the dollar - and that's just the beginning!

The SWIFT payment system reveals: the global share of US dollar transactions is now only 47%! The Eurozone is looking at the krone at 23%, while the pound sterling is at 7% and the Japanese yen is at 4%. And what is that? China increases its share in the BRICS race with 3% of global transactions in yuan. Small share, huge step for BRICS de-dollarization project!

Despite all this, the US dollar remains a giant in global events. But be careful, BRICS members such as Russia and Iran have recently announced that they will no longer use dollars for trade. Slowly but surely the throne of the US dollar is being cut, as watcher.guru reports. Who knows whether the dollar can defend its status as the world reserve currency? One thing is certain: the world is watching, spellbound!