"Global De-Dollarization: Navigating Economic Chaos and Change"

. “The Slow Burn of the Dollar Is Heating Up!!!

Imagine a world where the rules of the global economic game are being rewritten. This is not science fiction - it's happening right now, with the BRICS nations - Brazil, Russia, India, China, and South Africa - at the forefront. They are welcoming six new members - Saudi Arabia, United Arab Emirates, Iran, Argentina, Ethiopia, and Egypt - at the start of 2024. Over 40 countries have expressed interest in joining the bloc, and 22 countries have formally applied. This is not just an expansion; it's a revolution that has significant implications on the worldwide economy.

Together, this expanded alliance will control a striking 42% of the world's oil supply. Interestingly, they only consume 30% of it. As the game changes, the once dominant US dollar is being chosen less frequently as the preferred global reserve currency. Its use has slid quite significantly from 73% in 2001 to just 58% today. The United States, historically a kingpin in the global money arena, has been known to flex its financial muscle, imposing sanctions and exerting influence. The US has effectively weaponized its currency, imposing sanctions on countries accounting for a significant 29% of the global economy and 40% of the world's oil reserves. These sanctions adversely impact countries' capacity to trade on an international platform, thereby motivating the desire for de-dollarization amongst the now BRICS bloc members. Amid these shifts, the US grapples with its internal challenges - soaring inflation, a towering national debt of $33 trillion, and an impending banking crisis due to rising interest rates. In light of these circumstances, BRICS and its new members are looking towards doing business in a multipolarity currency system, effectively reducing

their dependency on the US dollar. Multi-polarity currency is when countries use their own currency, not just the dollar in global trade and economics. Why is this shift happening and why now? As we delve into this monumental shift, we will detail the top five reasons why these nations want to de-dollarize to a multipolarity currency system, breaking down the complexities, so you will easily understand the dynamics of this significant move. Let's take a journey together into a world where the standard set by the dollar is waning, inviting new economic players and strategies.

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