It’s been revealed that the US dollar’s death could be triggered by the BRICS global currency. We have been addressing the issue for a while now, and the matter continues to shine in the spotlight.
More data about the death of the US dollar
A former White House economic advisor said that the coming of a BRICS-issued currency has the potential to stop the US dollar’s dominance in international trade.
In a brand new article on Foreign Policy, Joseph Sullivan says that a BRICS-issued money would enable its members – Brazil, Russia, China, India and South Africa – to turn their backs on the dollar and trade goods and services using the new currency, which he calls “the bric.”
It’s important to note the fact that Sullivan served during the Trump administration, the bric could usurp the “dollar’s place on the throne” as BRICS is composed of economic heavyweights in their respective regions.
The economist goes on to say that the bric could be the beginning of the end of the dollar’s reign.
“Is it realistic to imagine the BRICS using only the bric for trade? Yes.
For starters, they could fund the entirety of their import bills by themselves. In 2022, as a whole, the BRICS ran a trade surplus, also known as a balance of payments surplus, of $387 billion – mostly thanks to China.”
Sullivan said the following as well:
“The BRICS would also be poised to achieve a level of self-sufficiency in international trade that has eluded the world’s other currency unions.”
Global push to kill US dollar
The American dollar’s reign as the world’s top currency is coming to an end, and there’s nothing the US can do about it. This sad news is according to Russian foreign minister Sergey Lavrov.
After giving a new speech to the UN Security Council, Lavrov told reporters that a global currency flip is coming like a freight train in a move that will permanently change the global financial landscape.
According to the Russian state news agency TASS, Lavrov made sure to highlight the fact that there is a seismic shift away from the dollar will have dramatic and unforeseen consequences.
