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Two dozen countries align against U.S. dollar as BRICS alliance seeks to form new global currency
Link: https://citizens.news/721685.html
The United States, for the better part of a century, has been the “indisposable nation” that others turn to when they need just about anything. But suddenly, in the age of the decrepit Joe Biden, a growing number of countries are attempting to move on from America and its currency, the dollar. | According to reports, a coalition of 24 countries is seeking to create a strategic alliance that would challenge the US dollar’s status as the world’s reserve currency, which it has held for decades. The BRICS group, composed of five economically aligned countries, is said to be in the process of a significant expansion, The Daily Hodl reported. ● South Africa’s BRICS ambassador, Anil Sooklal, has revealed that a total of 24 countries are interested in joining the strategic alliance that aims to challenge the US dollar’s role as the world’s reserve currency. The core collective, consisting of Brazil, Russia, India, China, and South Africa, is on the verge of a significant expansion, as 13 countries have formally requested to join, and six others have informally expressed their interest in becoming part of the alliance. ● The new members include Saudi Arabia, Iran, Argentina, the United Arab Emirates, Algeria, Egypt, Bahrain, Indonesia, two unnamed East African countries, and one from West Africa, according to Sooklal, who spoke to Bloomberg. ● BRICS was formed in 2006 without including South Africa, which joined in 2010. The new form of fiat currency will likely be backed by other assets, including precious metals like gold, said Russian State Duma Deputy Chairman Alexander Babakov, according to the Russian state-owned news agency Sputnik. Additional details are expected to emerge by the summer, with the next BRICS summit scheduled for late August in South Africa.
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