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this post was submitted on 25 Aug 2023
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chapotraphouse
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The only way BRICS could kill the dollar, IMHO, is if they would create a currency to negociate oil but that currency could not have it's supply growth rate higher than USD or pegged in gold ..can't see USD losing it's power any time soon in the current scenario
As cringe and reactionary as Saudi Arabia is, they're the ones who have held up the whole petrodollar scheme on America's behalf, and they just joined BRICS. Which means they might be pivoting away from America, and weakening American dollar hegemony as a result.