BRICS Gives the US Dollar the Cold Shoulder — National Currencies on the Rise

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BRICS has decided it’s time to break up with the US Dollar, and guess who’s the rebound? National currencies, darling!

BRICS Takes the Dollar to the Dump, Eyes Financial Freedom

Well, it seems like the BRICS gang—those charming chaps from Brazil, Russia, India, China, and South Africa (and a few stragglers like Egypt, Indonesia, and Iran)—are all but throwing a party in Rio de Janeiro to celebrate their newfound independence from the U.S. dollar. Russian Foreign Minister Sergey Lavrov, ever the diplomat, casually dropped the bombshell during a press conference on Monday.

More than 65% of trade now happens in good ol’ national currencies. Yes, darling, you heard it right. The dollar’s been relegated to a mere third of the trade action. Oh, how the mighty have fallen!

Lavrov, looking as pleased as a cat with a new cream dish, also made sure to highlight the group’s efforts to forge ahead with their shiny new payment system: BRICS Pay. This is no ordinary financial overhaul; it’s an all-out rebellion against the Western financial order. And trust me, these countries are in no mood for playing by the old rules.

In case you missed it, here’s what Lavrov had to say on this revolutionary move:

Our goal is to reduce reliance on Western systems. BRICS finance ministers have been busy at work, hashing out plans for independent payment systems. A good old-fashioned revolution in finance, if you will. A brave new world for all!

Lavrov also threw some shade at Western nations, pointing out that they’ve been clumsily stomping on global financial stability. In his ever-charming way, he noted:

The West, bless its heart, is doing everything in its power to ruin the international financial system. No wonder they’re losing control!

And, just to make sure the room was listening, he added a touch of drama about the IMF and its outdated quotas, calling for a much-needed makeover to reflect the rise of emerging economies. In Lavrov’s world, reforming these institutions is a no-brainer, and as for Western practices?

The policy of the collective West? Well, it’s a bit like a bad relationship—always taking, never giving. Neocolonialism at its finest, my dear!

But don’t get too comfy, darling, because Lavrov also hinted at a BRICS expansion that’s coming soon to a theatre near you. More countries want in, and the process is *well underway*. So, hold onto your hats, because the BRICS club is about to get a whole lot bigger, and it’s clear that the future of global finance is looking a lot less dollar-centric.

BRICS may be focused on financial sovereignty, but don’t worry, they’ve still got plenty of drama to keep us all entertained. Let’s see who else gets to join this revolution—because it’s just beginning!

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2025-05-01 05:59