Salestorrs’ Post

Salestorrs, Trump is hitting the BRICS again. In his latest social media post, he threatened the BRICS nations against creating a US dollar rival and that they would face 100% sanctions if they tried to develop such a currency. So what are these five nations doing to stand up against the dollar? Find out in today's #SalestorrsNews150, news in 150 words. #Salestorrs #dedollarisation #usdollar #brics #usd

There's been a lot of talks that the BRICS members intend to partially if not completely shifts its dependence on the Dollar. for those that might not know the what BRICS is its importance and why it will most likely will shift things around. BRICS is a group of five major emerging economies: Brazil, Russia, India, China, and South Africa. It was created to promote economic cooperation, advocate for reforms in global financial institutions, and provide an alternative power center in a world dominated by Western economies. By working together, these nations aim to boost growth, trade, and investment while reshaping the global economic landscape to reflect their increasing influence. "Recently, Dmitry Peskov clarified that BRICS cooperation isn’t aimed at replacing the U.S. dollar or challenging any particular currency. The focus is on strengthening partnerships and ensuring mutual benefits for all members. President Putin also emphasized the importance of maintaining national currencies and cautioned against rushing into a single BRICS currency. BRICS is about building sustainable economic relationships without disrupting the global financial system. It’s more about cooperation and shared growth than competing with the existing order." It's clear that Dmitry isn't saying what he really wants to say. Source : https://lnkd.in/dsPYn2Uf #BRICS #GlobalEconomy #EconomicGrowth #EmergingMarkets #FinancialStability

As the annual BRICS summit gets underway in Russia, brace yourselves for the yearly festival of dollar bashing. BRICS still strikes me as an incoherent grouping, guided more by what it stands against than by what it stands for. The idea of a BRICS currency shared by a such a diverse group of country is silly. Either way, it makes perfect sense that political leaders in developing countries would want to chip away at the dollar’s dominance. It hurts their pride and makes them vulnerable to sanctions. It is a very different matter for large businesses from those countries, who benefit greatly from the convenience of using the dollar. Looking ahead, the biggest threat to the dollar’s global role is probably not scheming and plotting in Moscow or Beijing. Rather, it is political dysfunction and reckless fiscal policy in Washington. That is a structural matter. Cyclically speaking, the dollar is historically strong on a trade-weighted basis. The rest of the world will welcome a weaker dollar (provided it is an orderly depreciation). A dollar tends to put downward pressure on economic activity on countries outside the US, without necessarily helping the US economy.

BRICS+: The Good, the Bad, and the Ugly The Good BRICS+ offers a fresh alternative to Western-led systems, aiming for a balanced global order. By uniting emerging economies, it focuses on peace, security, and sustainable development, creating new growth opportunities and strengthening collaboration across diverse nations. The Bad This diverse group faces challenges in aligning its interests. Different political and economic priorities make it tough for BRICS+ to create unified action plans, sometimes limiting its global influence. The Ugly China’s dominance in BRICS+ (nearly two-thirds of the group’s economic output) raises concerns of imbalance, as its influence could shift priorities heavily. Plus, the ambitious goal of dethroning the US dollar as the world’s reserve currency requires immense coordination and trust—a challenge for a group with such diverse members. #BRICS #GlobalEconomy #EmergingMarkets #China #USD

🚨 Trump’s Warning to BRICS: Is This the End of Their Power Play? 🚨 Donald Trump has thrown down the gauntlet, threatening *100% tariffs* on BRICS countries if they challenge the U.S. dollar's dominance in global trade. As BRICS explores alternatives like local currencies and a potential unified currency, this bold move could either halt their ambitions or escalate a global power struggle. 👉 Will this warning cement the dollar's supremacy? 👉Or is it the catalyst that propels BRICS into a new financial era? 👉Could this move reignite a prolonged economic and geopolitical standoff between Russia and the USA? 👉Will the tumbling Indian rupee take more hits? With global trade and geopolitics hanging in the balance, the stakes have never been higher. Is this the beginning of the end for BRICS' economic challenge, or just the start of a historic showdown? #GlobalEconomy #USDollar #BRICS #Geopolitics #TradeTensions #DeDollarization #PowerStruggle

🌍 BRICS and their Push for De- dollarisation De-dollarisation means reducing reliance on the U.S. dollar (USD) in global trade; a move that the BRICS nations are actively pursuing. At the October 2024 BRICS Summit in Russia, leaders discussed a new reserve currency backed by a basket of their respective currencies, reflecting their rising economic clout. Why It Matters: 1️⃣ Reducing Dependency on the Dollar: The U.S. dollar’s dominance in global trade and finance grants the United States significant influence. By shifting away from the dollar, BRICS nations aim to reduce vulnerability to external political and economic pressures. 2️⃣ Rising Economic Power of BRICS: Did you know? The combined GDP of BRICS nations now exceeds that of G7 countries in purchasing power terms. This growing influence makes the creation of an alternative global reserve currency a plausible step toward reshaping financial systems. 3️⃣ Fiscal Easing in the U.S. : With Donald Trump back in office and potential fiscal easing on the horizon, the U.S. economy may face shifts that could further motivate the global south to diversify away from the dollar. 🔸️The Big Question: Though the effect of this changing global order is uncertain, but if successful, these efforts could reshape the global financial landscape. What are your thoughts? #Economics #BRICS #Dedollarisation #Finance #GlobalTrade

Why BRICS Nations Push for De-Dollarization BRICS nations (Brazil, Russia, India, China, and South Africa) aim to reduce dependence on the US dollar to strengthen their local economies, boost trade in their own currencies, and reduce the impact of US monetary policies. This shift helps them avoid risks linked to dollar fluctuations. Among Middle Eastern nations, Saudi Arabia is showing interest in this move to expand its financial ties globally. Top Challenges: Building trust in alternative currencies. Creating a stable trade framework. Handling geopolitical pressures. #BRICS #DeDollarization #GlobalTrade #EconomicShift

The Annual BRICS Summit starts today (Oct 22-24), and one of the most important topics will be the development of a new currency backed by Gold. The BRICS have overtaken the G7 in GDP, and represent nearly half of the world population, so it is no wonder that they want to have greater control over their own finances. The US Dollar has become risky to own (drastic debasement and US sanctions), so their new currency may give new meaning to the term "Gold BRICS".

Recently a great move during Brics meeting- De-dollarization and the introduction of a BRICS currency can offer several potential benefits: 1)Reduced Dependence on the U.S Dollar: Countries can decrease their vulnerability to U.S. economic policies and sanctions, leading to greater financial sovereignty. 2)Increased Trade Among BRICS Nations: A common currency could facilitate trade within the BRICS bloc by reducing transaction costs and exchange rate risks. 3)Enhanced Economic Stability: A BRICS currency might provide an alternative for countries facing inflation or instability in their local currencies, promoting more stable economic conditions. 4)Strengthened Economic Alliances: The introduction of a new currency could deepen economic ties among BRICS nations, fostering cooperation and mutual support. 5)Diversification of Global Currency Reserves: Countries may diversify their reserves, reducing the dominance of the U.S. dollar and potentially stabilizing their economies. 6)Boosting Investment: A common currency could attract more investment into BRICS countries by providing a clearer and more predictable economic framework. Disclaimer-All this would result in better decision making without having any fear of sanctions by the west #international #relations #dollar #west #dominance #Brics

WORLD NEWS: Countries distance themselves from the US dollar India’s Foreign Affairs Minister S Jaishankar confirmed (https://lnkd.in/gx4m4ieg) that more than 2 dozen countries want to join BRICS in 2024. The development indicates that developing countries trust the alliance and want to distance themselves from the US dollar. The spiraling debt of $34 trillion is a burden to developing countries that hold billions in US dollars as reserves. Therefore, developing nations are aiming to reduce the risk of debt by putting their local currencies first for trade. Read here (https://lnkd.in/gkUg78tc) to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Interesting times ahead ... #brics #currency #finance #worldnews