Chinese Yuan money supply is double the US at $40 trillion with no end in sight. (Note the Chinese Yuan in the chart is adjusted for the exchange rate to the $)
BRIC's are a fantasy as I have mentioned before. If you have a problem with US printing you will really have a problem with China Printing Press!
Recently Russia walked away from India and broke off talks as Russia has billions of INR (Indian Rupees) it can not use.
So Putin doesn't want to be a creditor to Modi. Maybe Modi will want to lend to Putin?! NO!
Then that rules out 2 of the 4 BRICs currencies as dollar replacements!
We will now file this social media fantasy under Extraordinary popular delusions and the madness of crowds catagory.
Yes, quite a few others out there explaining that USD will not be replaced any time soon. I appreciate the notion that even if some trade exchanges are done in other currencies, they will barely make a dent in the global use of USD. On a related note, do you think demand and other factors will cause USD to rise again? Technically, I think DXY starts rising again, for a few weeks at minimum.
RealMacro
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@OptionsRising, Yes it makes my life much easier when a few others are saying the same thing to pass along my message. Not so much when they don't.
As for the dollar, I cannot say publicly bc it requires more in-depth knowledge than what I put out here. In other words, there are a set of things to look for that will tell us the next move. Not clear at the moment.
Technically, I think DXY starts rising again, for a few weeks at minimum.