Susan Bradford's Substack

Susan Bradford's Substack

Share this post

Susan Bradford's Substack
Susan Bradford's Substack
BRICS (Part II): Threat to the U.S. Dollar Overblown

BRICS (Part II): Threat to the U.S. Dollar Overblown

Susan Bradford's avatar
Susan Bradford
Nov 03, 2024
∙ Paid
1

Share this post

Susan Bradford's Substack
Susan Bradford's Substack
BRICS (Part II): Threat to the U.S. Dollar Overblown
Share

The dollar is being challenged given the overwhelming and unsustainable debt burden of the United States. However, even if the petrodollar has been retried, the U.S. dollar is pegged to the Saudi riyal, and Saudi Arabia is the development partner of the World Bank, an institution through which the United States wields financial influence on behalf the financial district of the City of London. Saudi Arabia has committed to BRICS.

Can you follow the bouncing ball? The world is still in the same court, just that the referees and players have changed, like musical chairs.

The Royal Institute of International Affairs (RIIA), which advances global policy on behalf of the financial district of the City of London writes in World Today: “there is only one issue on which all BRICS+ members can easily converge: namely, their common desire to erode the role of the dollar in the international financial system, whose continued dominance is reflected in the fact that three fifths of the world’s foreign exchange reserves are still made up of greenbacks.”

The journal then clarifies: “escaping dollar dominance is often linked to (limiting) its weaponization as Washington increasingly relies on sanctions as a tool of geopolitical coercion.”

Keep reading with a 7-day free trial

Subscribe to Susan Bradford's Substack to keep reading this post and get 7 days of free access to the full post archives.

Already a paid subscriber? Sign in
© 2025 Susan Bradford
Privacy ∙ Terms ∙ Collection notice
Start writingGet the app
Substack is the home for great culture

Share