Brics raging against the dollar is an exercise in futility
05 June 2023 - 12:44
The exorbitant privilege the US enjoys from the dollar being unambiguously the world's reserve currency is under attack again. The emerging market Brics countries of Brazil, Russia, India, China and South Africa are trying to attract hangers-on by whipping up talk of a rival to dethrone King Dollar. It's going to fail for all the usual reasons. As the King himself, Elvis Presley, sang: A little less conversation, a little more action, please...
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