BRICS & Elon Musk: Is the World Ditching the US Dollar? (2025 Update)
The global financial landscape is shifting, and rumors are swirling about the US dollar\'s future. Is the BRICS alliance, perhaps even with a nudge from figures like Elon Musk, leading a global de-dollarization movement? This article dives deep into the evidence and explores the potential impact.
The Rise of De-dollarization: Why Countries are Moving Away from the USD
One major factor driving this trend is fear. As of 8 de sept. de 2025, Developing countries fear U.S. sanctions could hurt their economies and, therefore, want to strengthen their local currencies and economies. The de-dollarization efforts are gaining momentum as nations seek greater economic independence.
BRICS: The Spearhead of De-dollarization?
BRICSa powerful coalition originally composed of Brazil, Russia, India, China, and South Africahas steadily expanded to include countries such as Saudi Arabia, UAE, Egypt, Iran, and Ethiopia. This expanded BRICS bloc is actively exploring alternatives to the US dollar for international trade.
News reports suggest that BRICS nations are making significant strides in using local currencies for cross-border transactions. BRICS members India and Indonesia have officially agreed to abandon the US dollar and settle cross-border transactions in local currencies. The decision to use local currencies is a significant step toward reducing reliance on the USD.
Furthermore, BRICS member Russia convinced the CIS bloc to BRICS: CIS Alliance Consisting of 12 Countries Ditch the US Dollar, Use Local Currencies For 85% Transactions. This demonstrates the growing influence of BRICS in shaping alternative financial systems.
India and Indonesia Officially Ditch the US Dollar?
The claim that the BRICS countries India and Indonesia have officially agreed to ditch the US dollar for cross-border trade. The two BRICS nations will now conduct transactions using their national currencies is a bold one. While the move toward local currency trade is confirmed, the full extent of the "ditching" of the USD remains to be seen and continues to be a developing story.
Elon Musk\'s Role: Speculation and Influence
While concrete evidence of Elon Musk directly influencing the de-dollarization movement is lacking, his views on alternative currencies and technologies, coupled with his global influence, make him a figure of interest in this discussion. His companies\' international operations undoubtedly require navigating the complexities of currency exchange, adding weight to his potential interest in this shift.
Trump\'s Warning and the Future of the Dollar
The shift away from the dollar has not gone unnoticed. On February 21, Trump threatened BRICS with tariffs of 150% for trying to create an alternative to the dollar. This illustrates the potential resistance and challenges that BRICS and other nations may face as they pursue de-dollarization.
Looking Ahead to 2025: A Multi-Currency World?
The trend suggests that the future may see a more multi-currency global financial system. Reports indicate that Nearly 20 countries are set to abandon the USD for native currencies in 2025. The long-term impact of these developments remains to be seen, but the momentum toward de-dollarization is undeniable.