Brics Officially Announces Its Currency To Unseat The Us Dollar
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Published 2024-05-07
It's no longer news that countries around the world, especially those from the Global South and non-Western countries such as China and Russia, have been looking for ways to reduce the hegemony of the West, particularly the United States. Although it has been a long time coming, the need became more apparent in 2022 after the Russia-Ukrainian war began, and the United States responded by hitting Russia with sanctions and freezing all its assets. The reason why the US could do that is that Russia, like every country in the world, stores the majority of its assets in the US dollar as a result of the Petrodollar agreement which essentially made it mandatory for all countries to purchase oil with the US dollar. This agreement practically cemented the United State's status as the world superpower because at the time the agreement was made the dollar had already risen to prominence as the reserve currency of most countries. It also increased the value of the dollar against other currencies thus leading to the hegemony of the United States.
As the world power in terms of military and economics, the United States has used its power as a weapon and political tool against other countries that stand against its interests and allies. Several countries around the world including China, Russia, Zimbabwe, and others have suffered under the hegemony of the US as it uses sanctions as a weapon. The case of Russia made it glaringly obvious to the world that if it could happen to Russia, it could also happen to them and, this is how the de-dollarization campaign began with BRICS, an alternative to the existing global order, at its helm.
All Comments (21)
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When the rich rob the poor... It's called business. When the poor fight back... It's called violence.''-- Mark Twain
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Imagine this scenario.. 1 BRICS coin = 1gm of Gold 100 Dollar= 1 Banana
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This all started when they sanctioned Russia. Now it’s like karma hit us back.
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50+ BRICS members from Africa by 2025
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Good thing....sick of USA....
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Gold and silver is the only real money.
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Explains why countries are taking their gold back.
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Let the American dollar go to hell.
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End of dollar hegemony 👍
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When all these dollars return hyperinflation overnight
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JUSTICE 👍👍👍👍 long time coming, but we're getting there!!!! Days of the dollar are done.
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6 MORE countries joined BRICS in Jan, around 40 MORE countries have expressed interest in joining. The dollar is collapsing, America is collapsing
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Uncle Sam killed the dollar with its own design, starting by spending the money he doesn't have in the first place. 🤑🤑🤑🤑
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truth is that gold serves as an inflation hedge in the long run, but not profitable in the short run. only thing you can predict is a strong effort of wealth transfer from the people to the powerful. luckily some folks find solution in financial advisors
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The best thing to have happened, fairness to all.
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Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
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Brics currency is a better option
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This is what WWIII is about.
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NO Fiat currency has ever NOT failed. USD most certainly will too. I see it is soon to be that time as much of the world has decided to make it so. Totally arrogant to think otherwise. Not possible to print dollars in such an uncontrollable fashion and escape a collapse.
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This is a good thing for everyone worldwide as it will help all be prosperous rather than a dictatorship that the US enforces through sanctions.
