BRICS attacks: Will the US dollar soon be dethroned?

BRICS attacks: Will the US dollar soon be dethroned?

Russia, China - The mighty Brics alliance is now beating! Determined to banish the US Dollar from cross-border transactions, set Brazil, Russia, India, China and South Africa to act in local currencies. Her message is clear: the "US dollar axis enemy" is to be overthrown because it hinders growth in the global financial sector. By switching to domestic currencies, they want to shake the dollar hegemony and open alternative trade routes.

The Brics members Russia and China are targeting the de-dollarization course and convincing emerging economies to handle their money transactions in local currencies. This weakens the global opportunities of the US dollar, which is increasingly used for trade and business. With oil transactions, copper trade and infrastructure loans, the alliance plans to establish local currencies as preferred means of payment.

Local currencies: The new power in global trade

While the scale of transactions is currently still small, the complete effect could be felt in the coming decades. The BRICS block confirmed that the DE dollarization agenda is a long-term goal and is ready to continue the process as long as it is necessary. They firmly expect to ventilate the secret and to dethroned the US dollar as a global reserve currency.

More and more developing countries are observing what is happening and could soon jump on the de-dollarization train. In several African nations that are practically on demand, the Brics Alliance could be a welcome help to strengthen its local currencies. Be it to boost its local economy or to gain a foothold in the currency market-the Brics alliance offers its members far-reaching opportunities to redesign the world of trade.