BRICS: 21 Countries Officially Agree to Ditch the US Dollar in 2023

[Davi Meireles]

The US dollar is facing challenges from developing countries that are threatening its status as the global reserve currency. A handful of alliances in Asia, Africa, and South America are looking to end dependency on the U.S. The BRICS and ASEAN groups are at the forefront of challenging the US dollar’s status.

Developing countries fear U.S. sanctions could hurt their economies and, therefore, want to strengthen their local currencies and economies. The de-dollarization efforts are in full swing in 2023, and nearly two dozen countries want to ditch the U.S. dollar.


Source: Reuters
Two different alliances have officially agreed to ditch the U.S. dollar for global trade in 2023. In March 2023, the ASEAN bloc was the first to decide not to use the U.S. dollar for cross-border transactions. The leaders of 10 Southeast Asian nations signed a declaration to stop using the U.S. dollar and promote their local currencies instead.



Additionally, the BRICS alliance concluded to stop settling international trade using the U.S. dollar at the summit in August this year. BRICS will use local currencies for trade and is also looking to create a common currency among member nations. The trade will be settled within the existing bloc of 10 countries and not with other nations outside the alliance.

ASEAN countries leaders

The ASEAN group consists of 10 countries, and the BRICS alliance is now an 11-member group. In conclusion, a total of 21 countries have officially agreed to ditch the U.S. dollar for global trade in 2023. Read here to know what could happen to the U.S. dollar if BRICS and ASEAN stop using USD for trade.



The ASEAN bloc of 10 countries includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. Also, the BRICS alliance includes Brazil, Russia, India, China, South Africa, Saudi Arabia, UAE, Egypt, Iran, Argentina, and Ethiopia.
https://watcher.guru/news/brics-21-c...oogle_vignette

[Cuz]

The US dollar is facing challenges from developing countries that are threatening its status as the global reserve currency. A handful of alliances in Asia, Africa, and South America are looking to end dependency on the U.S. The BRICS and ASEAN groups are at the forefront of challenging the US dollar’s status.

Developing countries fear U.S. sanctions could hurt their economies and, therefore, want to strengthen their local currencies and economies. The de-dollarization efforts are in full swing in 2023, and nearly two dozen countries want to ditch the U.S. dollar.


Source: Reuters
Two different alliances have officially agreed to ditch the U.S. dollar for global trade in 2023. In March 2023, the ASEAN bloc was the first to decide not to use the U.S. dollar for cross-border transactions. The leaders of 10 Southeast Asian nations signed a declaration to stop using the U.S. dollar and promote their local currencies instead.



Additionally, the BRICS alliance concluded to stop settling international trade using the U.S. dollar at the summit in August this year. BRICS will use local currencies for trade and is also looking to create a common currency among member nations. The trade will be settled within the existing bloc of 10 countries and not with other nations outside the alliance.

ASEAN countries leaders

The ASEAN group consists of 10 countries, and the BRICS alliance is now an 11-member group. In conclusion, a total of 21 countries have officially agreed to ditch the U.S. dollar for global trade in 2023. Read here to know what could happen to the U.S. dollar if BRICS and ASEAN stop using USD for trade.



The ASEAN bloc of 10 countries includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. Also, the BRICS alliance includes Brazil, Russia, India, China, South Africa, Saudi Arabia, UAE, Egypt, Iran, Argentina, and Ethiopia.
https://watcher.guru/news/brics-21-c...oogle_vignette

Thats great man! Hopefully we wont send any more countries our hard earned tax dollars…wishful thinking

[Euroholic]

All this means is war. Remember when Libya tried to ditch the US dollar to trade in oil in 2011? Or when Iraq tried to use the Euro to sell oil in 2003? Invasion every time.

[s1nc1ty]

I dont know much about economy but sounds smart. Why should they base theyr economy on foreign currency. Especially one of a country that is not theyr very close ally.

If they ever want to compete with the economic power of USA they have to build theyr own shit

[Davi Meireles]

All this means is war. Remember when Libya tried to ditch the US dollar to trade in oil in 2011? Or when Iraq tried to use the Euro to sell oil in 2003? Invasion every time.

I don't believe this will end in just a war !Only underdeveloped countries want to develop into 1st world countries, that's not anti-American anti-NATO ,Anti-Union European at all. There is always room for change in global geopolitics, no matter how much SWIFT rules the world for several years there are spaces for change.


The countries that have a direct fight with the USA are only Russia and China, both of which are part of the BRICS and are direct enemies of the USA, but other BRICS countries have nothing against the USA. BRICS is just a bloc of economic interests between countries that do business with each other, not military.But it is worth mentioning that Russia and China could join and become a military bloc to guarantee the internal security of the countries involved, I don't know what will happen, I'm just following what is happening, it is still too early to say anything, it will not dethrone the American dollar overnight. Russia and China and Middle Eastern countries really want this. But other countries they only aim for socio-economic growth and to isolate themselves from Western sanctions and geopolitics.

[Davi Meireles]

https://youtube.com/shorts/Fph1quR_x...pKjhF7Uxl3n7Au

[Honkey_Kong]

I don't believe this will end in just a war !Only underdeveloped countries want to develop into 1st world countries, that's not anti-American anti-NATO ,Anti-Union European at all. There is always room for change in global geopolitics, no matter how much SWIFT rules the world for several years there are spaces for change.


The countries that have a direct fight with the USA are only Russia and China, both of which are part of the BRICS and are direct enemies of the USA, but other BRICS countries have nothing against the USA. BRICS is just a bloc of economic interests between countries that do business with each other, not military.But it is worth mentioning that Russia and China could join and become a military bloc to guarantee the internal security of the countries involved, I don't know what will happen, I'm just following what is happening, it is still too early to say anything, it will not dethrone the American dollar overnight. Russia and China and Middle Eastern countries really want this. But other countries they only aim for socio-economic growth and to isolate themselves from Western sanctions and geopolitics.

I hope you don't discuss politics at family gatherings. It's a great way to start a fight.

But yeah I don't think it's going to start a war either. There has been a plan for some time for The US to ditch the dollar and move to the Amero (joint currency with Canada and Mexico with other Latin American countries joining). There's more to it than a shared currency and it has some major sovereignity issues as well.

The US Dollar will collapse whether or not other countries are trading oil with US Dollars. All this is doing is speeding up the inevitable.

[Euroholic]

The only thing backing the US dollar is the ability of the US military to destroy the F out of you if you do not trade oil in US dollars.

The US dollar(petro dollar) is the worlds reserve currency. Whilst it will eventually crash(as all fiat currencies do) it will be replaced with another form of currency. Perhaps a digital currency controlled by the one world government and a social credit score that will eventually lead to the mark of the beast.

[almostgone]

The only thing backing the US dollar is the ability of the US military to destroy the F out of you if you do not trade oil in US dollars.

The US dollar(petro dollar) is the worlds reserve currency. Whilst it will eventually crash(as all fiat currencies do) it will be replaced with another form of currency. Perhaps a digital currency controlled by the one world government and a social credit score that will eventually lead to the mark of the beast.

I'll give you an A- for accuracy. There's a crash in the system after the one world system is formed that leads up to the final events.. But from what I've read and believe. You're very close in this aspect.

[Euroholic]

I'll give you an A- for accuracy. There's a crash in the system after the one world system is formed that leads up to the final events.. But from what I've read and believe. You're very close in this aspect.

I'm just speculating as whilst we know the ending, we don't really know how it will come about.

[almostgone]

I'm just speculating as whilst we know the ending, we don't really know how it will come about.

Um, if you can count to 7, there's a lot of information to be gleaned.
I won't go into it here. But I'll just throw that information out there.

[Davi Meireles]

Brazil has just created a digital currency called DREX, it will be the new Brazilian Real and will be launched in 2024. But one news I bring is that Brazil created a bank for the BRICS that will work from 2024.

Corrupt Lula put Dilma in charge of this bank that will be the global south. As a Christian, I also find these movements strange,It seems like everything in the Bible is being fulfilled

[Cylon357]

Anybody remember how the long term value of gold collapsed when countries moved away from the gold standard? I mean, gold isn't worth anything now, right?

Wait, what? It is trading near two thousand United States Dollars per ounce? Hmm....

[almostgone]

Anybody remember how the long term value of gold collapsed when countries moved away from the gold standard? I mean, gold isn't worth anything now, right?

Wait, what? It is trading near two thousand United States Dollars per ounce? Hmm....

Yes. It dropped but created a new "floor" around $1920 per troy ounce. Silver has followed a similar pattern, albeit at a lower price per troy ounce. Hopefully, the new resistance point will be above $2k per troy ounce for gold and close to $26 per troy ounce for silver.

We don't keep a huge amount of our assets in previous metals, but we do have some. You know how it is, nothing is worth more than the buyers will pay.

I stress troy ounce because yesterday, an idiot at work tried to argue that there was no difference between a troy ounce and an imperial ounce. I had to show him that there's about 2.75 grams more in a troy ounce.

[XnavyHMCS]

All this means is war. Remember when Libya tried to ditch the US dollar to trade in oil in 2011? Or when Iraq tried to use the Euro to sell oil in 2003? Invasion every time.

I wouldn't be so quick to jump the gun and begin pounding out a cadence on the war drum; the States (in my opinion) needs China (for the foreseeable future) and India as trading partners; hell, I am of the belief; irrespective of the proxy war currently under prosecution in Ukraine; America needs a stable Russian and Brazilian market, if only for economic tranquility.

Of the nations (Libya and Iraq) mentioned, although it's true that Kadafi was interested in dumping the dollar; there was a lot more that went into the upsetting of the Libyan apple cart (and what a mistake that was) than just his "Pan African " aspirations. Iraq was a whole different animal, for wants and reasons to go in there.

[XnavyHMCS]

Thats great man! Hopefully we wont send any more countries our hard earned tax dollars…wishful thinking

No harm in dreaming, I guess...

[XnavyHMCS]

I personally believe that the BRICS alliance is great for business (I don't know fuck all about economics; just look at my bank account and investments). Didn't we use to say "competition is the life's blood of enterprise"? Bring on the competition.

As far as BRICS being a counterweight militarily to American hegemony; they still have some hurdles to overcome before they are playing in the same league as the NATO alliance. Ok, so they have what; 3 member states which posses nuclear capabilities; with one of the three lacking ICBM technology. Furthermore, some of their prospective members are in gross absence of any military muscle; those nations could be classed as "militarily anemic", not to mention their economic conditions. Certainly, this can all change in the future, but for the moment, the USA and our global partners have little to worry about. IMO

[wango]

I personally believe that the BRICS alliance is great for business (I don't know fuck all about economics; just look at my bank account and investments). Didn't we use to say "competition is the life's blood of enterprise"? Bring on the competition.

As far as BRICS being a counterweight militarily to American hegemony; they still have some hurdles to overcome before they are playing in the same league as the NATO alliance. Ok, so they have what; 3 member states which posses nuclear capabilities; with one of the three lacking ICBM technology. Furthermore, some of their prospective members are in gross absence of any military muscle; those nations could be classed as "militarily anemic", not to mention their economic conditions. Certainly, this can all change in the future, but for the moment, the USA and our global partners have little to worry about. IMO

My long time nightmare regarding increased unity between Russia, China, Iran & N. Korea is getting scarier. What’s preventing Russia simply giving nukes to Iran and/or N. Korea? Geez, is the world going to sanction them?

I don’ trust the Saudi’s & historically we never really have. Egypt? Forget about it, a cluster fuck, just like Libya. The chess pieces of South, Central America & Mexico should have us gravely concerned cause they ain’t exactly in love with us.

Truly headed to a worldwide cluster fuck.

[s1nc1ty]

I personally believe that the BRICS alliance is great for business (I don't know fuck all about economics; just look at my bank account and investments). Didn't we use to say "competition is the life's blood of enterprise"? Bring on the competition.

As far as BRICS being a counterweight militarily to American hegemony; they still have some hurdles to overcome before they are playing in the same league as the NATO alliance. Ok, so they have what; 3 member states which posses nuclear capabilities; with one of the three lacking ICBM technology. Furthermore, some of their prospective members are in gross absence of any military muscle; those nations could be classed as "militarily anemic", not to mention their economic conditions. Certainly, this can all change in the future, but for the moment, the USA and our global partners have little to worry about. IMO

Nuclear doesnt count imo since both sides have enough missiles to blow the whole world to smithereens. They cant be used, its unthinkable for anyone exept someone like kim yong un perhaps. The repercussion for such an attack would be so great not putin or anyone in theyr right mind would dare to use it. It wouold end in theyr own demise.

As for military power, only serious players in therr are russia and and china. Russia cant even beat ukraine so think what would happen if it was against the whole alliance. As for china, maybe in 50-100 years it will be very strong.

I think you have to think logically.. it is hard to beat the worlds richest country with the biggest military budget

If anyone thinks that some country etc could match the military power of USA and nato right now, i think they are fooling themzelves

[Davi Meireles]

The United States would take NATO on its back, in short; European countries would not hold a war without the USA of America. The USA is like its father, the only nation in the world with frightening military power. But once I say here, BRICS is not a military alliance but an economic one. There will only be war if Russia decides to invade Poland. Brazil is still neutral regarding the war between Ukraine and Russia, Brazil would never get involved in the war and if it did, I believe it would leave the BRICS and support the USA in a 3rd world war.

[s1nc1ty]

The United States would take NATO on its back, in short; European countries would not hold a war without the USA of America. The USA is like its father, the only nation in the world with frightening military power. But once I say here, BRICS is not a military alliance but an economic one. There will only be war if Russia decides to invade Poland. Brazil is still neutral regarding the war between Ukraine and Russia, Brazil would never get involved in the war and if it did, I believe it would leave the BRICS and support the USA in a 3rd world war.

I agree. Most of the military power of nato is usa. But incase of war i think european money will be big contribution to the american war machine. In addition to military / moral support

[Davi Meireles]

The chess pieces of South, Central America & Mexico should have us gravely concerned cause they ain’t exactly in love with us.
Truly headed to a worldwide cluster fuck.

Brazil and the USA have always been and remain friendly nations. But the filthy left of the current Brazilian government is anti-American .

I'm not lying when I say that I'm passionate about American culture, I like patriotism and war culture where you learn how to handle weapons from an early age.

I have the utmost respect for the USA, it is certainly one of the top 1 countries that I would love live

[Davi Meireles]

[wango]

Just getting 1970’s OPEC type flashbacks

[Davi Meireles]