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#de-dollarization

faab64@diasp.org
Farhad A

BRICS to Officially Abandon US Dollar

According to Brazil’s president, the #BRICS economic alliance is officially set to abandon the US dollar for trade settlements. Moreover, the development aligns with recent #de-dollarization efforts embraced by the bloc. As they continue to promote the use of local currencies internationally.

#Brazil’s President, Luiz Inacio #Lula Da Silva, confirmed the development at this week’s BRICS Summit. Additionally, the bloc announced its agreement to expand. Changing the geopolitical landscape, the alliance is set to welcome six additional countries by 2024.

#Economy #Politics

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tord_dellsen@diasp.eu
Sunyata ☸ 👨🏻‍💻

Richard Wolff on de-dollarization and the decline of the US empire

https://youtu.be/RbSiN-0xeMA

Key points from Richard Wolff:
* The reserves in central banks has been as high as 78% in dollars but are now at 40% dollars
* The #sanctions placed on #Russia has accelerated the process of #de-dollarization because countries can no longer #trust that the dollar is not going to be used as a #weapon against them
* He is worried that people in the #US don't understand that the US is declining and what this means for the #economy in the US
* There are two paths for the future, either ...
* ... #China taking over the position of the US
* ... or a #multi-polar world

#RichardWolff #UnitedStates #empire

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