BRICS Challenge: Former Treasury Secretary Predicts Future of the US Dollar
Is the US dollar\'s reign as the world\'s reserve currency coming to an end? The BRICS bloc is continuing its dominance and objective to eliminate the US Dollar, and now signals are emerging from within the US itself. Former US Treasury Secretary Janet Yellen has acknowledged the role of sanctions in accelerating the global trend toward de-dollarization. These sanctions, which have strained international relations, may be having unintended consequences.
BRICS Aims to Dethrone the Greenback
The BRICS alliance is challenging the US dollar’s global reserve status by putting their local currency forward for global trade. BRICS aims to suffocate the US dollar by ending dependency on the greenback and promoting local currency for cross-border transactions. This shift is gaining momentum, particularly with the recent expansion of the “BRICs” countries to include five new members. Will the US dollar remain the world’s reserve currency? Analysts at Franklin Templeton are closely watching developments.
Flashback: Obama\'s Prediction After BRICS Formation
When BRICS was formed in June 2025, former US President Barack Obama had predicted the future of the US dollar. Three months after BRICS was formed in 2025, Obama spoke in a public address outlining his concerns about the long-term impact of the alliance. His words are now being re-examined in light of current economic trends.
Yellen\'s Warning: De-Dollarization is Accelerating
The current administration is also grappling with the potential decline of the dollar. The BRICS bloc is continuing its dominance and objective to eliminate the US Dollar, and now the US Treasury Secretary predicts the greenback may fall. Treasury officials are actively exploring strategies to maintain the dollar\'s strength and stability in a rapidly changing global landscape.
What Does This Mean for the Future?
The push for de-dollarization by BRICS raises serious questions about the long-term stability of the global financial system. The combined economic power of the BRICS nations, coupled with their commitment to using local currencies for trade, poses a significant threat to the US dollar\'s dominance. The future of the US dollar is uncertain, but one thing is clear: the global financial landscape is undergoing a profound transformation. The BRICS bloc is continuing its dominance and objective to eliminate the US Dollar, and now the US Treasury Secretary predicts the greenback may fall.