The End of the US Dollar? BRICS Bold Strategy Revealed

Is the reign of the US dollar coming to an end? The BRICS alliance, comprised of Brazil, Russia, India, China, and South Africa (and expanding!), is actively exploring strategies to diminish the dollar's dominance as the world's reserve currency. This ambitious goal isn't about creating a single, competing currency, but rather about promoting the use of national currencies in international trade, as advocated by a former advisor to Ronald Reagan. But how is this being achieved?

BRICS Weaponizes Oil and Gas to Challenge Dollar Hegemony

The BRICS alliance is looking to weaponize the oil and gas sector to bring the U.S. dollar down from the world’s reserve currency status. The alliance inducted four new oil producers in its ranks. Energy, a commodity traditionally priced in dollars, is at the heart of this strategy. By encouraging trade in local currencies, BRICS nations aim to bypass the dollar and weaken its influence. This shift could have profound implications for the global financial landscape.

A Multipolar Future: National Currencies Take Center Stage

To bring an end to the dollar hegemony one doesn't need one common competing currency, but a number of national ones, according to former Ronald Reagan. This vision sees a world where multiple currencies play a significant role in international commerce, reducing the reliance on a single currency controlled by one nation.

Trump's Warning: Tariffs and Trade Wars?

The prospect of de-dollarization hasn't gone unnoticed. U.S. President-elect Donald Trump has warned the BRICS countries that if they attempt to replace the “mighty U.S. dollar” they would face “100 percent tariffs and should expect trade wars. This illustrates the potential geopolitical tensions surrounding this issue.