B R I C S

BRICS is an organization comprised of BRAZIL, RUSSIA, INDIA, CHINA, SOUTH AFRICA, EGYPT. UNITED ARAB EMIRATES, ETHIOPIA, and IRAN.

The purpose of BRICS is to perform whatever economic activities they need to perform in order to replace the US dollar with the Chinese YUAN as the international currency of trade.

These countries are REFUSING to use the US dollar when engaging in any commerce deal with themselves or other countries.

It is highly doubtful that their initiative will change anything, but it is still causing concerns for the USA on the global marketplace, especially when the USA experiences unusually slow economic growth.

There are also huge concerns should the USA default on paying the interest accrued on their national debt...

Coupled with the fact that should the USA need to borrow more money and cannot find any lenders, then should they print and put more money into circulation that it will devalue to dollar even more.

A devalued US dollar not only hurts trade but causes US goods and services to be more expensive.