Rise of BRICS will be devastating for America: US Congresswoman Greene

US Republican Congresswoman Marjorie Taylor Greene has sounded the alarm about the growing clout of the emerging BRICS nations, warning that the bloc’s "devastating" impact on the United States will be that it will make Americans go broke.

As the BRICS bloc gets stronger, the US economy becomes weaker because the BRICS member states, which are increasing in number, can circumvent the US sanctions regime and trade in their own currencies, Greene warned on Thursday.

Speaking to her constituents in Georgia, she said the administration of President Joe Biden had turned a blind eye to the growth of the BRICS, namely Brazil, Russia, India, China, and South Africa, in addition to Iran, Argentina, Egypt, Ethiopia, Saudi Arabia, and the United Arab Emirates, which have officially been invited to join the BRICS.

Emerging economic powers

The BRICS group, representing 40 percent of the world’s population and a quarter of the global economy, has paved the way for a multipolar world.

Greene has been critical of Biden over what she describes as his obsession with Russian President Vladimir Putin. She accuses the Democratic president of ignoring domestic issues such as the dire straits of the US economy, rising inflation and crime, and the fentanyl crisis, “putting America last,” and “destroying every single thread of democracy in the process.”

"While we are doing this nonsense, there are other countries in the world, powerful countries, organizing together because they are tired of the United States."

The BRICS nations, Greene said, are "making trade agreements with one another, serious trade agreements where they are saying: we’ll buy from you, you’ll buy from us, we don’t care about US sanctions and we’ll sell to one another, buy and sell in our own currency, not the US dollar."

"This is one of the most devastating things that can happen to all of us."

The Republicans expressed concern about the de-dollarization policy the BRICS pursue and their agreement to strengthen the BRICS bank, the New Development Bank (NDB), and their decision to replace the US dollar with local currencies in trade. “And you know what happens to all of us? We’re going to go broke.”

She claimed the demise of the dollar would negatively affect the retirement plans and personal savings of ordinary Americans.

The end of US dollar hegemony draws near

The days of US dollar hegemony appear to be numbered as multiple countries have adopted alternative currencies to the US dollar for international transactions.

In this regard, President Putin declared in mid-June that the growing popularity of the use of national currencies for cross-border exchanges signals the end of the hegemony of the US dollar.

The Russian leader, who was speaking at the St. Petersburg International Economic Forum (SPIEF), confirmed the growing pace of de-dollarization sounded the demise of the greenback.

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