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U.S. Treasury Secretary Janet Yellen believes the dollar will remain dominant as most countries have no alternative. Yet a former White House economist sees a 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 The switch from dollar to BRICS alternative also provides one time get out of jail free card for a lot of global South countries with heavy dollar denominated debts. They get Calls for a global shift away from dollar dominance are not new, nor are they unique to BRICS, but experts say recent geopolitical shifts and growing tensions between the A BRICS currency is unlikely because member nations have deep economic imbalances, depend heavily on U.S. dollar trade, and are not ready to adopt necessary Talks about the U.S. dollar’s demise from the hands of the upcoming BRICS currency is growing louder in recent days. The BRICS currency will soon dethrone the U.S. Talks about the U.S. dollar’s demise from the hands of the upcoming BRICS currency is growing louder in recent days. The BRICS currency will soon dethrone the U.S. dollar’s supremacy and Brazil's President called on Wednesday for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their

BRICS U.S. Dollar Doomsayers: Why They\'ve Got It All Wrong

Talks about the U.S. dollar’s demise from the hands of the upcoming BRICS currency are growing louder in recent days. The BRICS currency will soon dethrone the U.S. dollar’s supremacy, or so the doomsayers claim. But is there any truth to these pronouncements? The reality is far more complex.

While Brazil\'s President called on Wednesday for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their dependence on the dollar, the practical challenges are immense. A BRICS currency is unlikely because member nations have deep economic imbalances, depend heavily on U.S. dollar trade, and are not ready to adopt necessary financial integration.

The Dollar\'s Resilience: Why It Remains King

U.S. Treasury Secretary Janet Yellen believes the dollar will remain dominant as most countries have no alternative. Its established infrastructure, deep liquidity, and global trust are difficult to replicate. Calls for a global shift away from dollar dominance are not new, nor are they unique to BRICS, but experts say recent geopolitical shifts and growing tensions between the West and certain nations are fueling the discussion.

Geopolitical Tensions and the BRICS Alternative

The switch from dollar to BRICS alternative also provides a one-time "get out of jail free card" for a lot of global South countries with heavy dollar-denominated debts. They get the potential to alleviate some financial pressure. However, this is a short-term gain with significant long-term risks if a BRICS currency fails to gain international acceptance.

Donald Trump\'s Stance and Potential Tariffs

Yet a former White House economist sees potential challenges. A 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 consequences." While the likelihood of such extreme measures remains uncertain, it underscores the U.S.\'s commitment to protecting the dollar\'s dominance.

Conclusion: Don\'t Write Off the Dollar Yet

While discussions about a BRICS currency are certainly gaining traction, dismissing the U.S. dollar as a global force is premature. The economic realities, existing infrastructure, and political will supporting the dollar suggest it will remain a dominant force for the foreseeable future. So, before you believe the doomsayers, consider the complexities and the powerful forces still backing the “mighty U.S. dollar.”

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