That's the opposite situation in this case. They don't want USD and they've been reducing their supply of it for years. This is what BRICS is all about.
This is about gaining power & influence, not currency control.
BRICS is an overstated threat for sure, but it's an indicator of the weakness of the petrodollar generally.
The US has actually been doing a lot of permanent damage to the EU and the Euro to keep your bet from happening. They know. BRICS, they can't do much about, but they'll fuck over the EU if they get a chance. Not enough to actually defeat Socialism (because the State Department is a Fabian institution), just enough to keep Europe under American hegemony.
I mostly agree. The only thing I'd note is China loves having foreign currency on hand too, so, part of this is to gain good reserves of that.
That's the opposite situation in this case. They don't want USD and they've been reducing their supply of it for years. This is what BRICS is all about.
This is about gaining power & influence, not currency control.
My issues with brics is it's led by some fundamentally unstable countries, which will fall apart much more readily.
Until the EU shuns the US completely (in terms of military and economy) the dollar is a better long term bet imo.
BRICS is an overstated threat for sure, but it's an indicator of the weakness of the petrodollar generally.
The US has actually been doing a lot of permanent damage to the EU and the Euro to keep your bet from happening. They know. BRICS, they can't do much about, but they'll fuck over the EU if they get a chance. Not enough to actually defeat Socialism (because the State Department is a Fabian institution), just enough to keep Europe under American hegemony.