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"Remember when BRICS was supposed to dethrone the dollar and reshape the global order?
Well, ever since Donald Trump returned to office, they've been real quiet about that. Xi Jinping just ghosted the latest summit, Putin's hiding behind a webcam, and the whole bloc is looking more like a support group for countries with US tariff anxiety than a vehicle for revolutionary change.
But while they're keeping quiet on the surface, something interesting is brewing underneath. Tune in to find out what’s really going on with BRICS in the age of Trump 2.0."
~ Coin Bureau
The video discusses the impact of Donald Trump's potential return to office on the BRICS alliance and its de-dollarization efforts. Initially, the BRICS bloc, which had expanded from five to ten members, was gaining momentum with plans for new payment systems and local currency trading to challenge the U.S. dollar's dominance. However, following Trump's election win and threats of 100% tariffs on countries that aligned with "anti-American policies," the public rhetoric about replacing the dollar ceased. This led to a shift at the Rio summit, where the focus was on damage control to avoid provoking the U.S.
Despite this public retreat, the video explains that BRICS's efforts to build an alternative financial system are continuing behind the scenes. The bloc is still expanding, and progress is being made on initiatives like the Mbridge CBDC platform and BRICS Pay. The share of intra-BRICS trade settled in local currencies has also increased significantly. The video argues that Trump's aggressive stance may be inadvertently accelerating this transition by encouraging countries to reduce their dependency on the dollar to avoid future economic warfare. The video concludes that while the BRICS alliance has internal contradictions, its collective actions represent a slow and steady erosion of the dollar's dominance, likening it to a "death for the dollar by a thousand cuts"
0:00 Intro
0:41 Silence of the BRICS
5:57 Building in the Shadows
10:30 Ambition vs. Reality
14:39 Death by a Thousand Cuts=
Source - Coin Bureau YouTube: https://www.youtube.com/watch?v=607EpxAlnVU
Disclaimer: This video is provided for informational purposes only, and not offered or intended to be used as legal, tax, investment, financial, or any other advice.
