Block, Siteadmin, SkipCaptcha, Upload, Automoderated users, delete, edit, move, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, protect, rollback, Administrators, template
293,832
edits
Changes
Jump to navigation
Jump to search
Line 3:
Line 3: − +
→BRICS group
==BRICS group==
==BRICS group==
[[File:Bessent 12-5-25.PNG|right|300px|thumb|U.S. Treas. Sec.]] [[Scott Bessent]] tries to convince investors to by [[U.S. Treasury]] [[debt]] to [[finance]] the [[budget deficit|deficit]].<ref>https://archive.is/H58cb</ref>]]
The [[BRICS]] group, led by [[Russia]] and [[China]] began building an international finance and trading system that does not rely on dollars, that uses countries’ local currencies, [[gold]], [[oil]], or other [[asset]]s to trade.<ref>https://www.investopedia.com/terms/b/brics.asp</ref> The U.S. abuse of economic sanctions to [[blackmail]] and punish other countries that did not bend to America's will added to the impetus.<ref>https://www.washingtonpost.com/business/interactive/2024/us-sanction-countries-work/</ref> The rise of BRICS means that the US dollar will, at a minimum, lose its relative monopoly on oil and [[gas]] trades and sales.<ref>[https://investingnews.com/brics-currency/ How Would a New BRICS Currency Affect the US Dollar?], Melissa Pistilli, Mar. 18, 2025.</ref>
The [[BRICS]] group, led by [[Russia]] and [[China]] began building an international finance and trading system that does not rely on dollars, that uses countries’ local currencies, [[gold]], [[oil]], or other [[asset]]s to trade.<ref>https://www.investopedia.com/terms/b/brics.asp</ref> The U.S. abuse of economic sanctions to [[blackmail]] and punish other countries that did not bend to America's will added to the impetus.<ref>https://www.washingtonpost.com/business/interactive/2024/us-sanction-countries-work/</ref> The rise of BRICS means that the US dollar will, at a minimum, lose its relative monopoly on oil and [[gas]] trades and sales.<ref>[https://investingnews.com/brics-currency/ How Would a New BRICS Currency Affect the US Dollar?], Melissa Pistilli, Mar. 18, 2025.</ref>