BRICS New Digital Currency is HERE! What Happens to US Dollar Now?

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Any currency backed by gold is more trustworthy than a currency backed by printing machines.

Well it's time for the BRICS- New World Order to come up with a default reserve currency or simply go back to gold as the reserve. It will be too chaotic for each country to trade in their respective currencies with the daily change in exchange rates.

Plz watch your wording. BRICS is NOT 'taking down the dollar'. They are protecting their economies from malign influences and outside interference. Should the dollar fall as a result - as it inevitably will, so be it. Rather goes to prove how necessary BRICS actions are.

For China and most BRICS countries, it's a matter of surviving as an independent country, or surrendering to more years of humiliation as a vassal state of the USA.

One factor I noticed when it comes to currencies is that if it's accepted and agreed upon, then it has value! Thanks to Brenton Woods, the U.S. Dollar became the most accepted currency in the world. The U.S. was able to take the dollar off the gold standard and still remain the most used currency due to its link to oil and other factors. However, an organization that's originally founded as R.I.C. (Russia India China) grew as B.R.I.C. when Brazil joined and then became known as B.R.I.C.S. once South Africa joined. I suspect that if all member nations agree to accepting this new currency as an accredited currency similar to the U.S. Dollar, then the new currency will ultimately replace the dollar.

The Saudi-US 50 Years' agreement on Petrodollar signed on 1974 expires on 9th June 2024. Saudi has formerly, officially told USA that she is not going to continue with this agreement.

Russia and China are facilitating the transition towards a multipolar world, dominated by multiple voices, rather than the unipolar world, dominated by a single voice (namely that of the US and its "allies").

Not China. But Russia and Afghanistan show the world that dollar dominated assets in G7 can be confiscated.

Dont forget the NATO member Turkey is also saying they're joining BRICS!!!!!

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

Well even though you do not say so, our government spends Trillions on wars and supporting our very wealthy corporations with subsidies and low taxes. By contrast they spend very little on services for the majority of tax payers or infrastructure. So - I guess this is the price that we will all pay now. And, unfortunately, the ones who will suffer most are the majority of Americans who have to struggle through bad infrastructure, bad services and now inflation.

Cyrus you talk about Thailand but you missed that all 10 members of ASEAN have agreed to not use the us dollar for trading between them selves.

The Fed is printing the dollars, then the Treasury Yellen issues bonds to 'buy' up those printed dollars to spend it on the US government expenditures. This is increasing the dollar supply without any tangible production of real goods which is causing 'too much money chasing too few goods', hence inflation!

My question is: If the dollar lost 24% of its value, what is the point of holding US stocks, taking into account the depreciating value of the US dollar? It's like holding ice cubes.

One thing is certain. US "has" to print more money and keeps on increasing its national debt. Thus US inflation and the depreciation of its currency is now unstoppable. Other countries are finding ways to avoid being affected and the BRICS countries are just one group having its own strategy and direction led by China, Russia and India.

Join BRICS and free yourself from the threat of unilateral sanctions forever. Time for justice to be restored.

If you believe China is a peaceful and progressive country, raise your hand ✋👍🙋

Money sovereign governments like the US can (logically) print money; that's not the issue; the issue is printing it without due regard for the state of the real economy. What the US gvt has done in recent times which is really toxic for the US economy is printing it wildly to do something completely unproductive namely to fund the war in Ukraine. It's the excess number of dollars printed without corresponding real value: food, shelter, real economic structural development etc to back them which is now appearing as inflation. That's just basic MMT economics.

"Dedollarization will be a slow process...until it isn't." "Two ways. Gradually, then suddenly." Agree 100 percent. I firmly believe that the US Dollar will collapse within the next 5 years. It will be sudden and startling.