SAUDI ARABIA JOINS BRICS AUGUST 22nd

5. The first viable, useful alternative to the U.S. dollar: The BRICS SUMMIT represents a significant milestone as they potentially introduce the first credible and practical alternative to the U.S. dollar. This alternative system could provide countries with greater flexibility and autonomy in conducting international financial transactions, reducing their dependence on the U.S. dollar as the primary reserve currency. Such diversification can bolster economic stability and resilience while fostering a more multipolar global financial order. Considering the magnitude of these objectives, it is evident that the BRICS SUMMIT holds immense significance for the international financial system. By challenging U.S. financial dominance, mitigating the risks associated with the U.S. dollar, addressing inflation concerns, simplifying trade agreements, and presenting a viable alternative currency system, the Accords have the potential to reshape the global economic landscape and usher in a new era of financial cooperation and stability. 1. Drop in Dollar Demand: If countries reduce their reliance on the U.S. dollar for international trade, the lower demand can negatively impact its value — hence, reducing the value of your dollar-denominated assets. 2. Depreciation of the Dollar: The diminished role of the U.S. dollar in global markets may lead to depreciation in its exchange rates against other currencies. This affects the global purchasing power of your dollar-denominated assets. 3. Inflation: The reduced demand for the U.S. dollar may prompt the Federal Reserve to increase interest rates to attract investors, which, in turn, may lead to higher inflation. This gradually erodes the purchasing power of the money in your accounts. 4. Currency Exchange Rates: Dedollarization can lead to changes in currency exchange rates, which can affect the value of your bank and retirement accounts. If the US dollar loses its status as the dominant global reserve currency, its value may decline relative to other currencies. This can result in a decrease in the purchasing power of your US dollar-denominated assets, including your bank and retirement accounts. Here Are The Top Eight Reasons Why Dedollarization Could Potentially Cause Your Bank and Retirement Accounts In the U.S. To Lose Value: