vendredi 8 mars 2024

Regicide on the dollar king? The domination of the American dollar over the global economy, and its role as a store of value, is increasingly deteriorating, which is worrying even in the highest American echelons. It must be said that the 5 BRICS countries are seriously considering doing without this dependence on a foreign currency, which would very significantly reduce the hegemony of the latter. THE BRICS WOULD BE READY TO GET RID OF THE US DOLLAR Since American President Richard Nixon unilaterally ended the gold standard on August 15, 1971, by stopping the fixed convertibility between dollars and gold, it has been the only economic power of the United States, and its support on countries oil companies, who have managed to maintain the US currency as a means of global economic exchange (also with the printing of money, which has caused the US debt to peak at more than 34,000 billion dollars today). But this US economic power has tended to slow down over the last two decades, and above all, other powers are emerging, China in the lead. It is in this context that a publication by the Russian media TASS, published on March 5, 2024, tells us that the BRICS group is more advanced than ever on its project for a common economic exchange system. Brazil, Russia, India, China and South Africa want to base this value exchange system “on digital currencies and blockchain” so that it is completely “independent” of the US dollar.

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