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BRICS in battle: Can the alliance really topple the dollar?
The biggest threat to the US dollar comes not from BRICS, but from the US itself, through its own unreliability.
BRICS in battle: Can the alliance really topple the dollar?
The battle for US dollar supremacy is gathering pace! The BRICS alliance wants to dethrone green paper money. But despite all efforts, the dollar remains dominant worldwide. A whopping 58% of global reserves are held in dollars - that's hard currency power! But countries like Russia, Iran and Belarus are feeling the pressure of US sanctions, and that is precisely what is fueling the desire for de-dollarization.
China, a member of the BRICS, is sharpening its blades and eyeing the global scene with the yuan as a trading weapon. Interestingly, a new Bloomberg report explains that the biggest threat to the dollar is not BRICS, but - surprise! – the USA itself! The report argues that dollar strength has less to do with Trump-style threats than with America's reliability. America's impressive GDP gave the country "exorbitant privilege" and allowed it to tolerate deficits that would have brought down any other economy. So Trump's strategic excesses, whether through arbitrary sanctions or trade tariffs, could be far more dangerous for dollar dominance than anything BRICS is planning according to information from watcher.guru.