BRICS Emerges As New Global Powerhouse, US Dollar Faces Uncertain Future

https://www.benzinga.com ^ | July 22, 2023 11:36 AM | 2 min read | by Murtuza Merchant, Benzinga Staff Writer

[Right_Wing_Madman]

A reserve currency requires basic trust developed over time.

Yes, trust in the United States' currency and its institutions was the most important factor, but this trust has eroded around the world since the early 2000s when the US began massive deficit spending after 9/11 (when Dick Cheney said "deficits don't matter") and massive money printing following the 2008-09 financial crisis.

Many FReepers here are trapped in the 1990s and can't get out.

[RomanSoldier19]

https://www.statista.com/statistics/1229073/african-countries-with-highest-gold-reserves/

[bgill]

I don’t see this helping any of the countries. Too many are poor. Too many have major conflicts within the group. Many would do better providing their citizens with potable water.

[Reverend Wright]

“Why would anyone trust five Socialist dictatorships, or semi-dictatorships, more than they trust the US Dollar or the Euro?”

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Is this satire, or a serious post ?

[rxh4n1]

You ADMITTED you supported the war in Afghanistan, whoch I opposed from day. That was the stupide4st war, worse than Iraq. 20 year and nothing accomplished.

It wasn’t stupid at first. But we should have left after we got Al Qaeda and the Taliban. The nation building part was stupid. We should have left them to fight it out but if they made any more trouble for us go back in and crush them.

[himno hero]

Over 95 % of the inventions are still being pumped out by America and the west.

All others are parasites.

They’ll sit there as they never developed the infrastructure that the WHITE CHRISTIANS did.

[mj1234]

I believe south Africa has the worlds largest gold reserves-

production has FALLEN by more than 80% because it IS a basket case.

Both China AND Russia have been hiding how much Gold they
have - China is the Largest producer of Gold

Russia is Second(tied with Australia)

I think I see a pattern emerging- if Saudis and Iran quit
squabbling and Join - maybe it will be based on the PETROL dollar- backed by Gold? who knows