How the US dollar could be dethroned by BRICS national currencies

Critics of de-dollarization argue that no viable alternative to the greenback has emerged as a major reserve currency. They insist that the dominance of the US dollar will persist for the foreseeable future. But are they right?

Former Ronald Reagan official and renowned US economist Dr Paul Craig Roberts believes that ending dollar hegemony does not require a single competing currency but rather several national ones.

"The dollar as a reserve currency is the main basis of US power," Roberts wrote. "It means the US can always finance its debt."

Other countries strive to export goods to the US to obtain dollars for their central bank reserves, he noted. The foreign exchange earned from exports is then invested into US treasury bonds, which pay interest while also serving as reserves for central banks.

"Today, there is no need for a reserve currency," argues Roberts. "Countries should trade in their own currencies. This gives every country an incentive to maintain a strong currency."

The economist explained that the US dollar became the global reserve currency after the Second World War not because it was inherently indispensable, but because all other industrialized nations had been devastated by the war.

Roberts suggests it is time to move on and explore new alternatives, especially given that the dollar has been weaponized by the US.
The BRICS+ bloc is increasingly using national currencies for trade and investments within its framework.

The group "should develop trade relations among BRICS members, which have the potential to expand into Asia, Africa and South America. The world is ready for a non-weaponized system," Roberts advised.

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🔸 How the US dollar could be dethroned by BRICS national currencies

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Austria’s Nehammer steps down as chancellor, leader of People’s Party as coalition talks crumble

“We have negotiated long and hard. Agreement with the SPOe (Social Democrats) is not possible on key issues. The People’s Party stands by its promises: we will not agree to measures that are anti-performance or anti-business, or new taxes. We are therefore ending negotiations with the SPOe,” embattled Austrian Chancellor Karl Nehammer announced Saturday.

Nehammer said he would resign as head of the government, and as leader of the People’s Party, in the wake of the negotiations’ failure.

Austria’s political future has been in limbo since September’s parliamentary elections, where the populist anti-mass immigration, anti-Brussels, pro-neutrality, anti-Ukraine conflict Freedom Party of Austria (FPO) nearly doubled its standing, garnering over 29% of the vote and causing Nehammer’s ruling People’s Party/Green coalition to lose its parliamentary majority.

Nehammer refused to form a coalition with the Freedom Party, and has sought to cobble together a new government with the New Austria and Liberal Forum (NEOS) and the SPOe, respectively, with both attempts ending in failure.

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Italian PM Meloni will travel to US to meet Trump — reports

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On Jan. 9, President Joe Biden scheduled his final presidential trip overseas to meet with Meloni in Rome.

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"There will be a court case, of course. The prepaid equipment has not been delivered. This resulted in additional costs for us, as we had to buy the equipment elsewhere and adjust the installation deadlines. These claims will be filed," the Rosatom CEO said.

The replacement was quickly found and ordered from friendly countries. The launch of the first unit is planned for 2025.

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🔶 Media representatives were consciously chosen as targets for a deadly attack by the Ukrainian military.

🔶 The incident is yet another brutal crime by the Zelensky regime, which openly resorts to terrorist methods to eliminate its ideological opponents.

🔶 Russian foreign ministry calls on UNESCO and other international bodies to respond to the attack by the Ukrainian military.

🔶 All those responsible for the attack on Russian journalists in the DPR will be identified and inevitably punished.


📹 The video was filmed at the scene of the Ukrainian attack on a car carrying journalists.

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✋ China calls on US to stop cyber attacks around the world

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"We urge the United States to stop engaging in cyber theft and attacks around the world and stop using cyber security issues to smear other countries," he said.

Liu also denied accusations of Chinese government involvement in hacking attacks on the Treasury Department, saying the US is using cybersecurity to "smear" other countries.

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Coworkers claim he was rescuing a bird with tied legs, and the Health Department reported no evidence of pigeons after an inspection, the NY Post reported.

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Biden will deliver two major speeches before leaving office - reports

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Biden also is expected to issue additional pardons before January 20.

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The tuna auction is traditionally seen as an unofficial economic forecast for the coming year.

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