With a weakening US dollar and nations frustrated holding America debt, countries are seeking alternatives. Is BRICS and it's currency a threat to America financial stability?

No America still has many resources unlike Many other Countries.

Which currency would BRICS put forward to topple the US Dollar? The BRICS currencies aren't even in the majors, so good luck toppling the dollar. Do you ever even see a South African rand or Indian rupee in Barbados?

the dollar still dominates global trade. It is on one side of almost 90% of global forex transactions, according to Bank of International Settlements Data.
De-dollarising would need countless exporters and importers, as well as borrowers, lenders and currency traders across the world, to independently decide to use other currencies.

I post the question Mortman from Texas U S A based on this article.

https://finance.yahoo.com/news/brics-countries-could-swing-economic-040218147.html

The article says that BRICS could replace the dollar as the top reserve currency some time in the future, but it seems to depend on a lot of conditions and would take a long time to happen. BRICS also don't have a singular currency to put forward, and it's unlikely that all those member nations will agree to one over the other. And most of the member countries have many of their own problems to get over first.

I don't see it happening. Especially with all the recent distrust of China and Russia, they're losing a lot of business, and China's population is shrinking. But back to the opening question: Even if they did replace the dollar as the dominant currency, it wouldn't make the US weaker. The dollar doesn't depend on other countries using it. The dollar's strength is in the country that issues it--not what other countries trade.

It's actually the opposite and the American dollar, is hanging by a thread and that's no lie. It's not the American people to blame for what's happening, it's their Government, who are running the Country into the ground. The same thing is happening here in the UK also. The Brics nations are backing up their currencies with gold and other commodites of value. All the US have to back up their currency is debt, as the gold is all gone. You might say "Oh it's in Fort Knox?" The last time an audit was done on the gold there, was in the 1970's. I bet you it's all gone now though? Squirrelled out of the US, by greedy politicians who have sold it all behind your backs and deposited the ill gotten gains in offshore bank accounts. Why do you think that inflation is going through the roof in the US? It's because they're printing more money to prop up the $31 trillion debt, but that house of cards can collapse at any time though!

Absolutely . The West is dying and America is leading the way. The article link is just of one many that those in the know understand the true picture of the precarious nature of America financial stability while the powers to be smile and say all is well.

Seems to be more people care about what's happening in the Kardashians these days, than what is happening in their own Country? That suits the politicians though, as they'll distract you with one thing, while the serious things slip on past without bring noticed, until it's too late. The American people need to wake up to this fact asap, or their Country will be history and all the while they let it happen, right in front of them? Crazy!

"The dollar doesn't depend on other countries using it. The dollar's strength is in the country that issues it--not what other countries trade."

The pound was once the international reserve currency but that dominance ended after WW 2 with the decline of the British Empire but the pound is still issued by Britain today. The strength of a currency depend on both internal and external factors not just in the country that issues it.

Many who can are fleeing the States and Canada. Many who migrated (legally) want out. Folks are just not liking the direction their countries are heading by their governments.

The US was taken off the gold standard back in the 1970s and the dollar is backed by the "full faith and credit of the United States." which may not mean much, but even China doesn't have enough gold to back up all their currency. Their laws are in place to prop up whomever is in power at the time, and while the US legal system is under attack from Republicans, they're still holding, and soon enough, other republicans seeking power will use the laws to take down the ones who've abused the power they once had (Trump).

It's irrefutable that the US dollar is in most of the currency trades and for good reason. Everybody agrees to its validity. All the BRICS countries hate the US, but without fail, each will accept dollars for trade.

It's irrefutable that the US dollar is in most of the currency trades and for good reason. Everybody agrees to its validity. All the BRICS countries hate the US, but without fail, each will accept dollars for trade.

Sorry to burst your bubble, but I think you need to do your homework on this subject a little better? You really seem to think that America and the dollar, are foolproof from failure? You're wrong and it's already failed. Nobody but your own Government to blame on this one, but keep believing what they tell you, until the moment comes that their house of cards collapses and you'll be wondering why you never seen the woods, for the trees? The signs are there all around you, for you to see?

"The US was taken off the gold standard back in the 1970s and the dollar is backed by the "full faith and credit of the United States."

I respectfully disagree with you. Once upon a time? Yes. Now? No. For the last couple of years countries holding America debt have been rapidly selling off US treasuries. America debt have become unstainable and expensive. The wings of change have shifted. America printing money like crazy,a debt ridden economy and a weakening dollar, central banks around the world are buying up gold to cushion the fallout for when the dollar will cash. America is following the path of former empires. As for China, fiat back by some gold is still better than fiat back by no gold.

The economy is much more complex then anything stated above, even professionals can not figure it out. Even when the government gives away money to freeloaders it still works it's way around before being collected by the rich, and every time it switches hands the government has its dirty hands out to collect some of it. When the US sends billions of dollars worth of military equipment some where much of that equipment was built in the US so that only the raw materials are leaving the country. The US exports a lot of food around the world, even thou that food is often reimbursed by the US government that money still stays in the US. Unfortunately the top soil used to make it does not, top soil is one of the worlds most valuable resources, unfortunately it is not being respected and many chemicals are being used to make up for it.
The Democrats whom think the "Robinhood" policy of taking from the rich and handing it to the poor is the way to gain control just leads to a socialist and/or communist country which everybody knows just leads to lazy and unhappy, unproductive people as we have seen time and again. So long story short, yes the US is screwed in the long run, unsure when or how, but the US has a good run since WWii, but all good things must come to an end.
The Crypto currency or Bitcoin communities have dreams of becoming the universal currency of the world, it could be very valuable for smaller countries where their currencies take drastic changes, it can go from country to country without exchange fees, and it's digital footprint is more secure. However currently the crypto market is very volatile, day trading is pulling a lot of money out of its market, and it's being used for illegal things as well as funding wars do to people with vast wealth being able to control its market. Therefore it has not gained the traction it needs to become a mainstream stable yet. And it's more like a pyramid scheme then an actual market, a long with throwing those NFT's (or what I call Pokemon cards) into the mix along with some other questionable tokens has really discredited the true value of crypto.

Some of the crypto exchanges are legit, some are frauders like that paramid scheme called FTX who defraud its customers out of 10 billion dollars and others have partnerships with liberal organisations like Coin base/WEF. Regardless, the world is going cashless. China is a cashless society and the rest of the world is using their model to introduce instant digital payments systems in their own countries.US introduce theirs last year called FedNow. Just a first in series of steps in creating CBDC (central banks digital currency) to be managed by central banks worldwide. These crypto currency communities/exchanges will either go belly up or taken over as there can be no competition with the powers to be.

34+ trillion dollar debt. Surpassing 30 trillion 3 months ago.

Anxiety levels keep rising among nations holding America debt.

Feds finally admit America economy is in trouble.


https://youtu.be/mxdMOmyOoZQ?si=JtvuuAFx0zCmEg4W

The British Prime Minister, Rishi Sunak's father in law, is behind the Indian Company, who have all the technology for CBCD, all set and ready to go in place, for when digital currency, finally gets the go ahead. Strange that isn't it? 🤷

Not so strange when you know the players are being put in place to usher in the one world government/one world currency/one world religion. All lining up with bible prophecy.

https://www.gotquestions.org/one-world-government.html