Will BRICS members give up on the US dollar?
08/25/2023 •
Yes, BRICS members will challenge the US dollar's dominance. — Majority of the comments suggest that BRICS members are either actively working towards giving up on the US dollar or could pose a serious challenge to it. The inclusion of Saudi Arabia, potential resource backing, and issues with the current fiat system of the US dollar have been highlighted as significant factors.
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| 57% | 30 | |
| 34% | 18 | Bluesky |
| 9% | 5 | 4Chan |
| 57% | Negative |
| 28% | Neutral |
| 15% | Positive |
| 42% | 😡 Anger |
| 32% | 😃 Joy |
| 26% | 😱 Fear |
| 0% | 😢 Sadness |
| 0% | 🥰 Love |
| 0% | 😯 Surprise |
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Story
- There's a viewpoint that BRICS is planning to challenge the US dollar by creating a new currency controlled by the World Economic Forum (WEF) and that the dollar needs to be destroyed first for a new currency to be accepted.
- Russia and China have been trading with their own currencies, suggesting a trend away from the US dollar.
- Saudi Arabia joining BRICS could challenge the US dollar's "petrodollar" status, as Saudi Arabia has been a key ally in maintaining the dollar's dominance.
- The BRICS currency is said to be backed by bullion and won't be influenced by governments, making it potentially more appealing to developing countries.
- Some believe it will be internal factors in the US, possibly orchestrated by "WEF Commies", that will lead to the downfall of the dollar.
- There's skepticism about BRICS's ability to challenge the US dollar, with some pointing out rivalry between BRICS members like China and India.
- The BRICS currency is perceived to have advantages such as being backed by resources from member countries, making it a contender against the US dollar.
- Commenters concerned about an internal collapse of the US dollar see the BRICS decision as either a potential boost or just symbolic.
- Some believe developing countries might prefer dealing with BRICS due to onerous financial terms associated with America, with comments pointing to issues like the US supporting Ukraine financially.
- A portion of the audience is dismissive of the idea that BRICS will have a significant impact on the American dollar.
- The inclusion of Saudi Arabia in BRICS is viewed as aligning with a broader trend of countries questioning Western influence.