From Princely Onyenwe
Dollar Crash: The united States US Dollar value is likely to collapse or crash down on the basis that more countries are formally cleared and seriously invited to join BRICS In 2024.
It is indeed a breaking fact to note that finally, countries like Saudi Arabia, Egypt, Iran, Argentina, Ethiopia and the United Arab Emirates have formally been cleared and invited to join BRICS in 2024 as gathered by 9News Nigeria.
Our source revealed that Saudi Arabia is key to the Dollar earning its “petrodollar” status. Saudi Arabia was arguably the strongest ally of the United States in the region and losing Saudi to BRICS is not a very good news for the US dollar, but a really strategic move on the side of BRICS.
However, a clear indication that a BRICS replacement for the dollar (BRICS currency) is imminent.
Meanwhile, the unbundling begins with member nations – active and prospective replacing initial dollar trades with their own currencies.
In other words, rather than trade with the dollar, they use their individual currencies instead, as RUSSIA and China have been doing for some time now, and then gradually develop and migrate to a BRICS currency.
Sources revealed that the inclusion of these nations is sounding interesting to world economy, especially Saudi Arabia, into BRICS is a seismic shift in global power dynamics.
According, the transition from the dominance of the US dollar to a more decentralized, BRICS-backed currency system could redefine global trade, infact not could, it will redefine global trade, our source hinted.
As countries lean into trading with their own currencies, the world will be curious to see the ripple effects on global economies and geopolitics.
“On the topic of the dollar dominance, something tells me that the US is most definitely prepared for this change, in fact they could have been anticipating it for quite some time.
Knowing fully well that the idea of BRICS was somewhat birthed by the company Goldmann Sachs, it would not surprising to note that America has already anticipated the fall of dominance of their currency.
Absolutely, the inclusion of Saudi Arabia and other nations into BRICS is indeed a significant shift in global power dynamics.
The potential transition from the US dollar to a more decentralized, BRICS-backed currency system could reshape global trade and economies.
It is intriguing to contemplate how trading with national currencies might impact geopolitics and trade relationships.
As for the US, their preparations for such changes might be more complex than we think. Anticipating shifts in the global economic landscape could be part of a broader strategy.
These are indeed fascinating times with profound implications for the future of international relations and trade.
Futher investigation reveals that these BRICS and new member nations collectively possess vast proven oil reserves, totaling approximately 654 billion barrels, making them significant players in the global oil trade, and account for around 54% of the world’s total oil reserves.
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