Is Gold the Future of BRICS’ New Currency? Find Out Now!
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Following the conclusion of the BRICS ministerial summit in Cape town, South Africa where Senior officials from more than a dozen countries, including Saudi Arabia and Iran, were in talks on forging closer links with the BRICS bloc. The latter is positioning itself as a counterweight to the West both economically and financially as many are fed up with the US weaponizing the dollar.
In this regard, China has made clear its discontent with the role of the US $ in the international economy and its intention to internationalize the RMB as an alternative international currency.
If the US continues to weaponize its dollar hegemony, this is only bound to accelerate the decline of the dollar. The US would be best served by refraining from using economic statecraft to pressure countries to adhere to its wishes.
Bio:
Dr. Oualaalou served a fifteen-year career in the United States Armed Forces in support of the US government’s security agencies in Washington DC and around the world. His primary roles include security policy, intelligence analysis, security operations advice including leadership and managerial operations. He advised high-profile U.S. military and civilian officials on security issues, economic trends, and foreign military threat information. He has written many articles and books including his latest, “The Dynamics of Russia’s Geopolitics: Remaking the Global Order“.
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