BRICS+ leaders are meeting in Rio de Janiero this summer. Their dedollarization drive has made huge progress over the last two years. Here’s what they’ve accomplished so far – and why the Rio Reset will stun the world…The warning signs were there (but most people missed them)In August 2023, all eyes were on Durban, South Africa when the leaders of the BRICS alliance met behind closed doors. A few weeks before, Russia’s top diplomat Sergey Lavrov made global headlines claiming the BRICS alliance was close to launching a “gold-backed currency.” Their intentions were clear: First to challenge, then to replace, the U.S. dollar.It was a bold claim – and for everyone who understood the role the dollar plays in the global financial system, it was a truly frightening moment. It would be an exaggeration to say the world held its breath – but I don’t mind telling you, I certainly held mine!
