BRICS Drops Bombshell Update on Decade-Long Dollar Dethroning Strategy
Ten years in—and the dollar’s still standing. But BRICS isn’t backing down.
The bloc just fired its latest shot in the currency wars, though skeptics say it’s more about political theater than actual economic disruption. After all, shifting away from the greenback is like trying to quit caffeine while working on Wall Street—easier said than done.
Key moves so far? More local currency swaps, whispers of a BRICS digital currency, and enough gold hoarding to make a dragon jealous. But with the dollar still dominating 60% of global reserves, this revolution might need another decade—or three.
One thing’s certain: central bankers love a good multi-year PowerPoint presentation. Execution? That’s someone else’s problem.
Source: Rafael Neddermeyer
BRICS Give Major De-Dollarization Update Amid Tension-Filled 2025
At the start of his second term in the Oval Office, US President Trump threatened the BRICS alliance with 150% tariffs. The reason for the warning was the bloc’s continued attempts to dethrone the US dollar on the world stage. Specifically, its efforts to create its very own native trade currency to supplant the greenback.
In the first 100 days of his second term, that dollar was falling gradually under Trump’s watch. This may have many believing that the collective WOULD only double down on those same efforts to challenge its dominance. Yet, that doesn’t appear to be the case, as the BRICS bloc has given a shocking update on its ten-year de-dollarization plans.
According to a recent Reuters report, Brazil has said that there is no realistic prospect of any currency stockpile overtaking the US dollar’s dominance over the next decade. Indeed, the nation that is the 2025 chairmanship holder of the bloc has changed its tone drastically. Brazil was among the most ardent supporters of de-dollarization. Now, they have almost relinquished if such a policy would ever be possible.
It was the country’s monetary policy director, Nilton David, who discussed the reality. Regarding US dollar dominance, he noted there is a small chance that “will change over the coming decade.” It will be incredibly interesting to see how this shifts the BRICS perspectives.
The greenback is seeing its value plummet from America-first and protectionist policies. The question is, could they continue their commitment to orchestrating an alternative that may not topple the greenback but create competition against it?
