The U.S. faces a global movement to join the Russia-China-controlled BRICS trade group away from G10-controlled SWIFT, to remove the dollar as the world’s currency. While most predictions claim it will be a slow process, not everyone agrees. Some experts say the pain will begin this year.
Watcher Guru:
Among the greater BRICS de-dollarization plans, one expert has predicted big challenges for the US Dollar in 2024. Indeed, the expansion of the economic alliance has certainly created an obstacle for the greenback. Subsequently, many expect the trouble to begin as soon as this year.
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Specifically, Rebecca Walser, the President of Walser Wealth Management, discussed the impact that the expansion could have on the US. Moreover, she identified the expansion effort as a key play in the global movement away from the dollar as a widely accepted reserve currency.
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Walser noted her concern macroeconomically began with the BRICS Expansion. Subsuqnety, Walser said that “Wall Street is not discussing and not talking about” the landmark growth plan. Specifically, she highlighted the importance of “the addition of Saudi Arabia and the United Arab Emirates (UAE).”
“And that is a step closer to what I would consider the end of the real sort of dollar hegemonic status,” Walser stated. “And when we look at the data and the analytics on this, you’ve got more GDP of all the nations put together moving towards the BRICS bloc than we have in the G7.”
www.independentsentinel.com/us-could-feel-effects-of-de-dollarization-as-soon-as-2024/