The BRICS nations will not be able to find a replacement for the US dollar even if they try, US Treasury Secretary Scott Bessent has claimed.

The comment comes as members of the economic group, including Russia, China, and India increasingly shift to mutual trade settlements in their national currencies.

The BRICS countries have ramped up efforts to reduce reliance on Western currencies in bilateral trade in recent years, especially after sanctions froze Russia's euro and dollar reserves held in EU clearing houses, following the escalation of the Ukraine conflict in 2022.

Speaking on Wednesday to Fox Business about US President Donald Trump’s economic and fiscal goals, Bessent claimed that no other currency can replace the greenback.

“I’ve been in the currency markets for 30-35 years and I can tell you, there is no alternative to the dollar. These [BRICS] other countries can talk about it, they may try to take away our reserve currency status but there is no other reserve currency on the horizon,” Bessent said.

The BRICS group consists of founding members Brazil, Russia, India, China, and South Africa along with Egypt, Ethiopia, Iran, Indonesia and the United Arab Emirates. Additionally, Belarus, Bolivia, Kazakhstan, Thailand, Cuba, Uganda, Malaysia, and Uzbekistan are expected to gain official BRICS partner status this year. Over 30 nations have submitted applications to join the bloc.

Bessent’s remarks come after Trump warned BRICS member countries against replacing the “mighty US dollar”as a reserve currency, repeating the threat of 100% tariffs he made weeks after winning November’s presidential elections.

“There is no chance that BRICS will replace the US dollar in international trade or anywhere else, and any country that tries should say hello to tariffs and goodbye to America!” Trump wrote on his Truth Social platform last week.

Addressing the issue, Kremlin spokesman Dmitry Peskov has denied BRICS has plans to create a common currency, although he highlighted ongoing discussions about joint investment platforms to boost economic cooperation among member states.

Speculation about a potential BRICS single currency has circulated in recent years. In 2023, Brazilian President Luiz Inacio Lula da Silva voiced support for the idea of a ‘trading currency’ within the economic grouping, drawing parallels to the euro. However, leaders of other BRICS nations, including Russia, India, China, and South Africa, have denied discussing such a move.

BRICS leaders have consistently emphasized that they do not seek to undermine the dollar, and that the greenback is only weakened by its politicization.

https://www.rt.com/news/612262-dollar-reserve-currency-no-alternative/

MEANWHILE:

by Heritage Serenity

Introduction

Our Western world is dying and we do not see it. In the face of institutional manipulation and censorship, reliable information and fair analysis are sources of resilience. The goal of this blog, which deals with the "scum of things", is to help you understand the real rules of the game of our "democracies". Those that are so carefully hidden from us.

"The individual is handicapped by finding himself faced with a conspiracy so monstrous that he cannot believe it exists" ~ John Edgar Hoover

Observe the signs and take action

God, how rich is African wisdom in teachings, just like our peasant common sense. These values are passed down to us from generation to generation, mainly orally.

As for African wisdom, it is expressed through many stories and proverbs. They are reflections of the African spirit, philosophy, knowledge and values, which are, among others, respect for elders, ethics and common sense. This ancestral wisdom is still present and here is an example.

As I keep writing, geopolitics and economics are intimately linked.

The "major turning point" of 24th February 2022

The end of the unipolar world of the American hegemon has sounded.

De-dollarization is underway.

The BRICS and Global South, continue to expand and many African countries have understood that they must regain their sovereignty. At the forefront of this, control of their gold.

It is therefore not surprising that the movement to repatriate their gold stocks, often kept in the United States or Great Britain, is intensifying.

Several countries in Africa and the Middle East have begun withdrawing their gold reserves from the United States in recent months. These include: Cameroon, Nigeria, South Africa, Ghana, Senegal, Algeria, Egypt and Saudi Arabia.

What these African countries instinctively understand is, alas, no longer within our own reach. We need "proof", concrete elements, on which we can rely to act. Here are some of them:

• The Bank of England (BoE) announced, on January 28, "the launch of a new financial stability tool" aimed at bankers, insurers and pension funds. It is intended to help them to "weathering turbulent times in the UK government bond market", in other words, it's the gilts.

• The next day, the BoE announced that it could not deliver its customers' requests for physical gold, for four to eight weeks. Normally, the delay is a few days, at most a week.

The BoE "justified" this shortage of physical gold, as a result of an "increased gold shipments to the United States amid speculation of possible import tariffs in that country".

Whatever the justification, if the BoE is no longer able to deliver the physical gold purchased by its customers on time... something serious is happening!

The BoE has officially asked other central banks to lease their gold... which is supposed to be stored there!!! This is similar to a default, right?

These facts are not likely to maintain confidence in this noble institution that is the BoE. Here is a third piece of information… for the road! According to US-Debt Clock, the ratio between the metal extracted from the mines and the quantity of ounces traded on the stock exchange is:

                         127.59 to 1

In other words, there is one hundred and twenty-seven times more “paper gold” than physical gold!

Don't you think it's high time to buy (physical) gold... while there's still some left? An absolute record was reached on January 30, 2025 at 17:00 p.m.: 86,248.86 euros per bar (one kilogram)! Rest assured, it will be beaten!

"It is better to walk without knowing where to go than to sit without doing anything." (African proverb)

source: Heritage Serenity

https://reseauinternational.net/face-a-leffondrement-en-cours-faites-confiance-a-la-sagesse-africaine/?

NUMERICAL ADAPTATION BY JULES LETAMBOUR

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         POLITICAL CARTOONIST SINCE 1951.

HYPOCRISY ISN’T ONE OF THE SINS OF THE TEN COMMANDMENTS.

HENCE ITS POPULARITY IN THE ABRAHAMIC TRADITIONS…