The Fate of the Dollar: BRICS Push Back

Trish Regan and Rob Hordon of 76research explore the long-term outlook for the U.S. dollar as the global reserve currency in light of aggressive efforts underway by developing countries around the world to figure out an alternative. With unofficial reports of Saudi Arabia abandoning a petrodollar agreement, along with a recent BRICS summit held in Russia that was attended by the Saudis among many other nations, there is growing interest in the geopolitical shift toward de-dollarization as a reaction to American and G-7 financial hegemony.

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If the status of the U.S. dollar deteriorates as the premier global reserve asset, this has significant implications for competing stores of values, like gold and cryptocurrencies like Bitcoin or other versions of digital currency. Why are the BRICS countries moving in this direction? What is the connection to American foreign policy in Ukraine? What role do central banks play in all this? Why is India now aligning with its historical rival China? Trish and Rob tackle all these questions head on.

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