Is The Global Financial System Changing?

Since it’s inception in 2009, BRICS, which is the leading group of emerging countries led by Brazil Russia India China and South Africa, have been mainly focused on one thing. But along the way, they have accomplished other things that COULD help them get to their main goal. Other things like surpassing the G7 nations in terms of GDP, other things like having over 40% of the world population, and other things like inviting 6 new countries to be members effective January 1st 2024. The addition of these new members adds the ability for more strategic alliances, regional balance and have a strangle hold on the world’s oil production. But these items are all secondary to their main focus of creating a second global financial system away from the developed nations, specifically the United States, and it’s currency, the dollar.

[ChrisInvestingAmateur]

If you liked this, and want to find out more about BRICS new financial system, check out the long form video by clicking the white triangle link on screen!

[tcorourke]

You have engaged in a tautology.

The choice to use the U.S. dollar for international trade is what makes it the global reserve currency, not the other way around.

It's like saying, "Due to its popularity, the dog is a very common pet."