Newsweek: Ignoring BRICS Expansion Threatens America's Economic Security
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January 1, 2024, saw the significant expansion of a major threat to America's financial security. Curiously, the event passed largely without comment from the Biden administration. The trigger for this potential economic time bomb is the BRICS+, an alliance of nations that could soon seek to replace the U.S. dollar as the world's reserve currency. Its success would mean a lower quality of life for all Americans.
The original BRICS was named after an agreement between Brazil, Russia, India, China, and South Africa to develop a multinational financial institution that would act as an alternative to the International Monetary Fund. Meeting at annual summits since 2011, the group quickly set out to recruit new members in order to advance its real goal: overturning U.S. dominance of the global financial system.