[Tee tiong huat]

To destroy peace and prosperity! 

BRICS comprises five countries Brazil, Russia, India, China, and South Africa. Therefore, a total of 24 countries are participating to dethrone the U.S. dollar from its global reserve status.

24 Countries Interested In BRICS Currency. The countries that have shown interest to join the BRICS alliance are Saudi Arabia, the United Arab Emirates, Argentina, Egypt, Bahrain, Indonesia, Algeria, and Iran. Also, two unnamed countries from East Africa and one from West Africa have sent their applications, according to the ambassador.

The development shows that a handful of countries are interested to trade in the BRICS currency. The nations want to move away from the U.S. dollar and end American financial supremacy. The dollar comes with a risk of debt that could wreak havoc on local currencies if the U.S. slips into a recession.

Also Read: BRICS Countries Buying Large Amounts of Gold To Topple the U.S. Dollar

If more countries ditch dollar, U.S. will have no means to fund its deficit, making dollar weak. This could make soon-to-be-released BRICS currency gain prominence in the new financial world order.

If nations around the world settle for trade with the BRICS currency, the dollar’s value could plummet