It’s really difficult to even start to build even an Keynes’ Bancor like global reserve currency, much less some “Brics Euro” to be used within the countries (which was never in the cards to begin with btw). However this American sanction obsession is very much creating the need to replace the dollar worldwide. Under Biden one set of countries were sanctioned, and now Trump is sanctioning pretty much everybody else that Biden didn’t sanction. US itself is the main driver of de-dollarization, not Brics. Who the hell even wants to live with a US gun on their temple anyway, even if you are so called “US ally”. Now Canada and Europe are getting slapped punitive tariffs on, because the administration changed, countries therefore can’t have just one main way to do global trade.
Everybody knows now that if you don’t kowtow to the US, it may confiscate your US Treasury securities and/or cut you out of SWIFT. You’re putting your financial trust in a rogue state.
It’s really difficult to even start to build even an Keynes’ Bancor like global reserve currency, much less some “Brics Euro” to be used within the countries (which was never in the cards to begin with btw). However this American sanction obsession is very much creating the need to replace the dollar worldwide. Under Biden one set of countries were sanctioned, and now Trump is sanctioning pretty much everybody else that Biden didn’t sanction. US itself is the main driver of de-dollarization, not Brics. Who the hell even wants to live with a US gun on their temple anyway, even if you are so called “US ally”. Now Canada and Europe are getting slapped punitive tariffs on, because the administration changed, countries therefore can’t have just one main way to do global trade.
Everybody knows now that if you don’t kowtow to the US, it may confiscate your US Treasury securities and/or cut you out of SWIFT. You’re putting your financial trust in a rogue state.