Re: 11 more countries just joined BRICS this week

This should answer those who were wondering what is happening with BRICS. In their latest summit that was held in Brazil this week the leaders of BRICS nations welcomed a new full member, Indonesia and also welcomed 10 new countries that joined BRICS as partners: Belarus, Bolivia, Kazakhstan, Nigeria, Malaysia, Thailand, Cuba, Vietnam, Uganda, and Uzbekistan.

Apparently BRICS now represents roughly half the population and GDP of the entire world Cool

Half the world’s population and still can’t build a working alternative to SWIFT. Sounds more like a geopolitical book club than a real economic bloc.

Although BRICS has been around for a while, in the early stages their goal was to develop and boost each other's economies together. But over time, they gradually realized that the world's dependence on the USD had inadvertently given the US supreme power and they were using it indiscriminately. They abuse them for their own benefit, not for the common good of the world as they said before.

You made a mistake, the US is not abusing the USD, you can cite an example of how they abuse it for clarity. The US power and dominance over the world economy and political space is difference from the USD itself. If the US is manipulating the USD, it is the same as manipulating the world market, this will be be an abuse that the punishment will be severe, no one would trust the USD again, so they don't dare, the consequence will be dire.

Once USD has become a global currency the people in power had a responsibility to act properly and fairly. Massive printing by the US devalues everyone's balance sheet of USD. Sanctioning individuals or countries from the dollar or from the global system because they don't do something that you want them to do is also bad and abusive. The consequence of this kind of behavior is the gradual downfall of USA and the de-dollarization of the world. You're witnessing it in person.

I can't blame the US only though, most countries would abuse this power if they had it especially the EU. A world with many competing currencies is a world with better balance.