Ron Paul: Saudi Arabias Inclusion in BRICS Poses Significant Challenge to US Dollars Dominance as Global Reserve Currency

Ron Paul: Saudi Arabias Inclusion in BRICS Poses Significant Challenge to US Dollars Dominance as Global Reserve Currency


New BRICS Member Saudi Arabia Could Challenge United States Dollar’s Hegemony, Says Ron Paul

According to former United States Congressman Ron Paul, the inclusion of Saudi Arabia as a new member of the BRICS economic alliance poses a whole lot of threat to the dominance of the United States dollar. In a blog  post, Paul argues that BRICS was established to challenge the economic and political supremacy of the United States. He in particular  outlines Saudi Arabia as a country that could accelerate the decline of the dollar’s reign as the worldwide reserve currency if it signs deals with other BRICS countries to accept their currencies for oil purchases. Paul likewise attributes the interest in replacing or creating alternatives to the United States dollar to the US’s growing debt burden and the weaponization of the dollar’s reserve currency status.

READ NOW
Closure of $16.5M Discord cryptocurrency trading bot due to security breach

Hot Take:

The inclusion of Saudi Arabia in the BRICS economic alliance could weaken the United States dollar’s position as the worldwide reserve currency. If Saudi Arabia signs agreements with other BRICS countries to accept their currencies for oil purchases, it would hasten the end of the dollar’s dominance. This shift is driven by multiple factors, including the US’s mounting debt burden and the weaponization of the dollar’s reserve currency status. The growing resentment towards the dollar’s dominance and the desire for alternatives is a backlash against the arrogance of United States foreign policy. The United States dollar’s hegemony may face a serious challenge as BRICS continues  to expand and gain momentum.

READ NOW
Report: South Korean Taxpayers Disclose Almost $100 Billion Worth of Crypto Assets Abroad
Author – Contributor at | Website

Daisy Hodley emerges as a luminary blending the roles of crypto analyst, devoted researcher, and editorial virtuoso into a harmonious symphony. In the realm of digital currencies, Daisy’s insights resonate with an exquisite resonance across a diverse spectrum of minds. Her adeptness in decoding intricate threads of crypto complexities seamlessly intertwines with her editorial finesse, translating intricacy into a captivating melody of understanding.

READ NOW
Opportunity for US to Establish Crypto Regulation Dominance, Claims Grayscale CEO Michael Sonnenshein
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.




Follow us

Latest Crypto News

Share via
Share via
Send this to a friend