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BRICS Currency Launches - $14 Trillion Economy Just Challenged The Dollar
BRICS launched currency alternative to dollar. China, Russia, India, Brazil, South Africa plus nine new members. $14 trillion GDP, 45% global population, 70% oil and gas reserves. Payment infrastructure operational across thirty-four countries, first commodity trades outside dollar completed December 2024. Russia sold oil to India in rupees and yuan, no dollars, no SWIFT.
Dollar share of global reserves fell to 54% from 73% in 2001. Saudi Arabia joined BRICS January 2025, country that created petrodollar in 1974 just joined anti-dollar coalition. BRICS is multi-layered: local currency settlement, gold-backed units with 24,000 tons pooled reserves equaling $1.5 trillion backing, and blockchain digital currency.
New members Saudi Arabia, UAE, Egypt, Ethiopia, Iran, Argentina add $4 trillion GDP. Saudi and UAE produce 12 million barrels daily, 20% global supply. If they price oil in BRICS currency, petrodollar finished. Iran controls Strait of Hormuz where 20% oil passes. Egypt controls Suez Canal where 12% trade passes.
Dollar dominance rests on three pillars being attacked: oil priced in dollars, central bank reserves holding dollars, trade settlement using dollars. If 30% oil trade moves out of dollars that's $600 billion yearly reduced demand. China reduced reserves from $1.3 trillion to $700 billion, Russia from $400 billion to zero.
Timeline 2025-2026 BRICS currency reaches $500 billion to $1 trillion trade volume. 2027-2028 thirty to fifty percent oil trade settles BRICS, dollar reserves fall to 48%. 2029-2030 fifty percent oil outside US settles non-dollar, reserves fall to 42%. US runs $800 billion trade deficit sustainable only because world accepts dollars, if stops, imports fall, living standards fall. Britain lost pound reserve status 1945-1970, living standards stagnated twenty-five years.
⚠️ DISCLAIMER: Educational purposes only, not financial advice.
Will BRICS succeed? Should US worry? Share in comments.
TERMINAL ECONOMICS - Monetary architecture shifting away from 1944 system.