BRICS attacks dollar dominance: Deutsche Bank warns of consequences!

BRICS attacks dollar dominance: Deutsche Bank warns of consequences!

The global financial cauldron is boiling! The BRICS alliance is taking on the powerful US dollar dominance and wants to replace it with local currencies. Since the US imposed tough sanctions on Russia in 2022, this currency exchange has gained momentum. Developing countries are now relying more and more on local payment methods to conduct international business. Is the dollar on the verge of a historic crash? The prospect of his loss of power in global financial markets could mean serious shocks to the US economy, possibly ending in an unprecedented collapse watcher.guru reported.

The economic luminaries at Deutsche Bank are sounding the alarm: the dollar could actually end up on the losing side. At least that is the conclusion of a recent report that focuses on the BRICS alliance's aggressive de-dollarization strategy. George Saravelos, renowned currency strategist at Deutsche Bank, tells readers: “The speed and scale of global change is so rapid that we must seriously address this possibility.” As the geopolitical battle intensifies, the dollar is far from fully strengthened in this dynamic market situation - a sign of an incipient decline? Deutsche Bank summarizes that two pillars of the US position in the world – its security guarantees for Europe and its claim to rules-based free trade – could be shaken. A new chapter in financial history appears to be unfolding.