BRICS Push Dedollarization to Another Level: What next?

The term "de-dollarization" refers to the process of reducing reliance on the US dollar in international trade and finance. While the concept has been discussed for several decades, its prominence has grown in recent years due to geopolitical shifts and economic strategies by various countries.
The exact first use of the term is difficult to pinpoint, but it has gained significant attention particularly after the 2008 financial crisis. In recent years, countries like China and Russia have actively pursued de-dollarization to mitigate the impact of US economic sanctions and to diversify their foreign reserves.
This trend aims to reduce reliance on a single currency and enhance economic stability by using various local currencies. By focusing on their own currencies, nations aim to minimize geopolitical risks and bolster their domestic economies. This shift is reshaping global trade and financial systems, potentially lessening the worldwide dominance of the US dollar.
In this video, we explore the growing movement of BRICS+ countries, decreasing their reliance on the US dollar for international transactions. We examine the motivations behind these choices and provide insights into their economic tactics. Furthermore, we highlight the de-dollarization initiatives within the BRICS+ alliance, showcasing significant steps these nations have taken to diversify the currencies used in global trade.

[@fastepo]

China Reject IMF: What next? kzbin.info/www/bejne/aHKXYX9je8qEg9E

[@pangkiatloh4555]

Good to stop US from bullying other country.

[@joegood9186]

It's not we the people it's our government, please tell me your not that lost. We as citizens know not to go invading countries but our government somehow don't.

[@albertlevinsaber6835]

I agree with you, many people outside the US are also bitter to the unequal PPP of US$ vs other currency. We gave up our time for hard earned income that their government can print out of thin air, to trade for goods and services that they can enjoy at a discounted value. ​@joegood9186 I understand and sympathize with all common people. Most politicians are bastard everywhere

[@jafarbadri9080]

@@joegood9186 yeah but u are the same if u are not against so i will say US is hated everywhere

[@ramonng6381]

Dedollarization is more powerful than military strength. ...bravo, Russia and China ..

[@jonathanfriedlander8563]

Dedollarisation excellent!

[@HappyPandaBear73]

AWESOME! TEAM DE-DOLLARIZATION & TEAM DUMPING ALL U$A’s TREASURY BONDS ALL THE WAY AND BEYOND FOREVERMORE!👍🙏🙂

[@nickpope8056]

Well done, BRICS, the future is yours ❤❤❤

[@bno5357]

No more USD paper USD ,no more war!

[@sulongenjop7436]

US is defeated. NATO is collapsing and UN is blunder too! The economic world war is won by the powerful gang!

[@pardeeptandon]

The De-Dolarization process has been underway for a few years now. It is a slow, gradual process. But it is inevitable and America should prepare for it.

[@MazM911]

Well done, please dont stop.

[@elinys2843]

What exactly did the US expected to happen? They demand every country they deal with to pay and get payed in dollars and they print it as they need it, so actively, permanently and increasingly devaluating their own currency.

[@matthachireth4976]

The dominance and Hegemony of $$, must reduced for the development of Brics nation. Consumption of oil, dramatically changing.

[@lovestrong3582]

It was always inevitable that the USD would go down. We're just witnessing it now.

[@dwaynevantassel3561]

It seems not all have forgotten what freedom means. God Bless

[@tamara_diamonds422]

Remember. A lot of people based freedom on what it is they learned. For example China. Their citizens are not free. But because that’s how they grew up. Many would like it’s the way of life.

[@LunaLapin-ho5tk]

@@tamara_diamonds422 The west isn't free either. The US isn't free, we're a banana republic complete with political prisoners and kangaroo courts.

[@ssuwandi3240]

Exactly. Welcome to Commie currency

[@LunaLapin-ho5tk]

@@tamara_diamonds422 People are not free in the US any longer so why complain. We gave up our freedom

[@tamara_diamonds422]

@@LunaLapin-ho5tk I wasn’t talking about the us. I was talking about China. And only China.

[@bruceclairelopschutz9938]

Given the persisting global economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.

[@favoursmith8501]

The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.

[@emmapriscilla6132]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@lucybentzcrystal4440]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@emmapriscilla6132]

I definitely share your sentiment about these firms. Finding financial advisors like Monica Lisa Payne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@lucybentzcrystal4440]

Monica has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.

[@babarsayeed6742]

Excellent step. Dollar must go down to provide relief to poor countries of the world.

[@jackchiu7560]

First, the mBridge project from BRICS experiments with a multiple-central bank digital currency (multi-CBDC) common platform for wholesale cross-border payments and it totally excludes settlements in the U.S. dollars. Next came the BRICS Commodities Exchange where BRICS members can trade grains and agricultural produce and food with each other either through the nBridge payments or through the exchanges of products via barter trade. Then again, a new BRICS Raw Material Exchange will be set up where essential oils and minerals can be bought and sold within BRICS members without the knowledge of whoever controls the U.S.-led SWIFT transaction system. This will be a big boon to resources-rich countries in Latin America and Africa so all of them can escape the looting from their former colonial masters until this very day. As expected, the G7 will forever lose the rights to issue economic policies that only benefit themselves as more and more countries realize they now have the tools to fight back.

[@bricspratama]

No more Dollar as US weapon to press all nations, no more arbitrary sanctions to all nations👍....With BRICS+❤all nations are free and independent without fear to trade, financial transaction and investments.... 🤜Goodbye $, the toxic currency💥...its time for De-dollarization to say goodbye to the IMF and WB who blackmail any country with high interest rates on debt loans for the benefit/profit of modern imperialism of western countries

[@sihaanm]

BRICS❤❤❤❤🌹✌️✌️✌️✌️👋👋👋👋👋👋👋

[@greetandries99]

Extremely pleased to hear that. Am all the way in even am westerner but sick of US empire terrorism

[@70Eldo]

LOL so whats better ? Bring back the Soviet Union? The CCP are not the good guys..

[@mrsenator9106]

Nothing wrong with using standardized gold-backed currency. Gold is tangible and highly sought after. But it's too early to say that BRICS currency will replace USD as a global reserve currency. The percentage gap is so high. Let's start with ending the petrodollar dominance first.

[@mrbardel4363]

De-dollarization starts only after 2020 ...

[@sar50anga82]

what happens to trillions of dollar bills horded up in private and govt safes...US Govt has prohibited China from buying up Land Holdings within the US...can other Overseas Enterprises buy up land and property within the US with the Dollars they have ?

[@andrewcruz-nz1eb]

Stopping Chinese companies to buy Agricultural lands in the USA is very short sighted for the American government. If China buys lands , Chinese companies hv to pay real estate n income taxes, invest in infrastructures, hire Americans as employees n export Agricultural products to China, likewise the Chinese cannot bring those land to China. While Buying American treasury bonds the USA treasury hv to pay China interest . 😅😅😅

[@p3ngi3]

@@andrewcruz-nz1ebno smart person has invested in bonds in years. It’ll be worthless soon. Toiletpaper will be worth more

[@bohlalemaphosa454]

The USA dollar hegemony is dying a slow but sure death. Buying oil from Russia using the Rubles & ZAR will inject life in the SA economy. We may qualify for discounted oil purchases like China. In July 2023 they had massive 19% discount from Russia.

[@JaniferCadungog-cu9nx]

Nice 💯☺️

[@rashidbagewadi1006]

Section's. Section's. Today my foot section's.

[@marlotree6909]

Waytogo y'all and SA!!!

[@pravdaseed64]

MAGNIFICENT MERITOCRACY Of CHINA 💯%. i wish 🧞 i was Chinese 💯%. 💚🐉🇨🇳🐉💚 💜☸️☯️🕉️💜

[@davidy3359]

Good news

[@redelpe1]

This is all Music to my ears. Bye-bye to the dirty Dollar, bye-bye Federal Reserve power , bye-bye Wall Street mismanagement with financial meltdowns and financial crises.

[@70Eldo]

Bye bye to your 401K, IRA and hello to hyper- inflation ! 😃

[@hbc511]

Egypt took a hit before they abandoned the sinking sh ipt

[@mhmarikar]

👍👍👍

[@exportintlexp6873]

#TXTM Tribe

[@Sepia36912]

😮

[@afizi1213]

naiceee ,usa is crying in corner

[@tonyfong2330]

❤️❤️❤️👏👏👏👍👍👍

[@HayatiTezman-iw5kw]

Geber Dollar!

[@Zindo.Majesty.HisMajesty]

I don’t feel it but hey, hate away

[@anthonyagbojo1408]

@@Zindo.Majesty.HisMajesty it is not about hate. It is about freedom and independence. This is especially imperative as the US abused and weaponizing the fact that the dollar was a reserve currency imposing sanctions Willy nilly, cutting off access to SWIFT, exporting inflation and seizing dollar assets of countries it does not like.

[@sulongenjop7436]

Paper money look useless. Perhaps a countries with abundant gold will enjoy the economy!

[@chaoskid1211]

Good. And stay out

[@hilwaamanamankiyar-pp5bf]

BEA

[@DennisSokolov-ws3sm]

I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but I'll also have at least one pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Retiring comfortably in the US these days is almost impossible. I honestly don't understand why people don't move to another country when they get older in retirement. It seems everybody has excuses for almost anything to not take action to better their situation.

[@dilara4130]

I know this lady you just mentioned. Abby Joseph Cohen Services is a portfolio manager and investment advisor. She gained recognition as a former employee at Goldman Sachs; a renowned investor she is. Abby Joseph Cohen has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.

[@ohmakure4716]

How do i reach her, if you don't mind me asking?

[@dilara4130]

@ohmakure4716 her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@annemoore4461]

Abby Joseph Cohen Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's

[@ryancihet555]

Been debt free for two years thanks to Abby Joseph Cohen Services. So sad to see my friends in their 40s with car loans, mortgages and credit card debt.

[@imperialknight45]

Hmm I know about it since 2010 that dollar will lose it's value long before brics well paper belongs to them. Real currency is gold silver and copper not crypto paper and etc

[@edwardflorence5460]

The problem with BRICS is their currency is worse than the dollar or Euro.

[@abdulaibari9099]

Internationallize the bricss currency our only brief that is worse than break promises.

[@zoo-xibbitjayne2081]

Digital is dangerous.

[@wulfychen3058]

At least it can't act as weapon like USD did to most developing countries.

[@zoo-xibbitjayne2081]

​@@wulfychen3058Yes, I'm in agreement there I just have a concern about hacking and embezzlement. Here in the USA they'll very soon be able to delete anyone from all public records and divest them of any ownership too. Now they're talking about an "open season" on those already made homeless by greed and ignorance.

[@boydchilala]

This imperialist slave apartheid currency has brought more harm than good time to leave it

[@Xyz23454]

Who is taking up the US treasuries that China and others are off loading ???

[@LunaLapin-ho5tk]

The US, of course.

[@quikslvr01]

China is the richest country in BRICS and they just made 40 banks disappear and jianxi in the brink of collapse. Go ahead and trade Yuan as an anchor of currency 😂

[@hankmiller990]

XRP will replace the dollar as World Reserve Currency.

[@ReginaldBurns-ox6nm]

You Think With The Cross Border I does have it 👀

[@p3ngi3]

That’s what you think. All you that invested in XRP got suckered. Brics will be the new currency. No other country will accept the US dollar soon.

[@bricspratama]

No more Dollar as US weapon to press all nations, no more arbitrary sanctions to all nations👍....With BRICS+❤all nations are free and independent without fear to trade, financial transaction and investments.... 🤜Goodbye $, the toxic currency💥...its time for De-dollarization to say goodbye to the IMF and WB who blackmail any country with high interest rates on debt loans for the benefit/profit of modern imperialism of western countries

[@70Eldo]

@@p3ngi3 Q: .BRICS will USE new currency- but using what form of currency? How will it be converted from each participating country to a common form? A: XRP- (you're welcome.) 😁

[@p3ngi3]

@@70Eldo dream away buddy. Those countries don’t want any American influence.

[@davidadkison9098]

No worries joe will fire up the printing press and fix everything.

[@evelyndominguez4757]

Sad part is he thinks he can actually do that. Pathetic.

[@p3ngi3]

That printing press has not stopped since 2008. No getting out of the debt. It will be impossible to repay the debt. Thank your local politicians

[@bricspratama]

No more Dollar as US weapon to press all nations, no more arbitrary sanctions to all nations👍....With BRICS+❤all nations are free and independent without fear to trade, financial transaction and investments.... 🤜Goodbye $, the toxic currency💥...its time to say goodbye to the IMF and WB who blackmail any country with high interest rates on debt loans for the benefit/profit of modern imperialism of western countries

[@davidadkison9098]

@@evelyndominguez4757 yes sad our politicians.

[@davidadkison9098]

@@p3ngi3 yes let gen z pay it back I want freebies.

[@simonlo9956]

What is it? Like 4 years since I started noticing these “de-dollarization” propaganda videos on KZbin. Yet, 4 years later the dollar remains the dominant currency in the world. Yawn.

[@mutantryeff]

This is like: I used to like using my Visa card, but now I'll use my MasterCard.

[@p3ngi3]

Not how it works at all.

[@LunaLapin-ho5tk]

No, you might want to take a few economics courses.

[@mutantryeff]

~65 countries peg their currency to the US dollar. Until those countries swap to a peg of gold or something else, nothing much to see here.

[@alrent2992]

If that's the case. Why is the u.s. complaining? And crying 😢?.

[@colleenpritchett6914]

When the dollar falls like to the ground you will be able to wallpaper your walls with hundreds . The economy will spiral into a complete depression worse than the 40’s. And it’s on the way.

[@zeissiez]

It’s not a measure to make the dollar obsolete. It’s a measure to avoid sanctions and asset confiscation by the dollar scheme.

[@colleenpritchett6914]

@@zeissiez it is a measure to bankrupt all economies to they can be absorbed by the WEF. Wake the hell up

[@bricspratama]

No more Dollar as US weapon to press all nations, no more arbitrary sanctions to all nations👍....With BRICS+❤all nations are free and independent without fear to trade, financial transaction and investments.... 🤜Goodbye $, the toxic currency💥...its time for De-dollarization to say goodbye to the IMF and WB who blackmail any country with high interest rates on debt loans for the benefit/profit of modern imperialism of western countries

[@WarrenJackson-ki7pn]

Well all that hatred and all the blood shed in my life time

[@USViper]

Saudi Arabia just started issuing U.S. Dollar Bonds... 😂 brics is a joke

[@jardaadamek1039]

Good morning, hahaha, Dollar is historic and now bigger economic winner!!! That is all!! Bay from Europe 🇺🇸💪💪👍🍀💪🇺🇸🇺🇸

[@mi_rai]

If muammar gaddafi and saddam still alive they can trade oil in euro they should obey US a bit longer to stay alive

[@USViper]

Look at all the U.S. haters on here using a U.S. media platform called KZbin. Hypocrites 😂

[@charlesbusch8739]

Brics reject dollar, then dollar should reject brics? Pick your choice and back it?

[@ronaldphoong]

Thinking that one can isolate another, also means that those in isolation can work together on trade and that's what is seen with BRICS +. In reality, sanctions basically created the coalition of sanctioned countries to trade with each other using the barter trade approach. This is nothing new and I saw that done 6 decades ago. Well, you figure out the impact it has on the USD. Misinformation is viral by the US government with 400 million annually. As an investor on AI technology, my thoughts are it's a waste when countries use it on destruction rather than feeding growth on food security, health, environment, etc

[@p3ngi3]

You guys just don’t get it. When the US dollar falls it will be worth absolutely nothing. No country will accept dollars. Not even for trade. US will be come a third world country and have to industrialize.

[@afrozuz]

They don't need US anyway, that's a point of Brics- to give right to others

[@greetandries99]

Don’t give a damn about US $. Evil dictatorship.

[@nawazsharif1087]

What about me I am stolen billions of dollars from my country pakistan and move into US yes I am imran khan now I am bagger