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Smart Silver Stacker
Nov 12, 2022
BRICS is expanding. According to Russian foreign minister Sergey Lavrov, 12 new countries have plans to join BRICS. Most notable, this list includes the world’s largest exporter of crude oil, Saudi Arabia.
The expansion of BRICS threatens US hegemony on many fronts, but none more so than the risk posed to the petrodollar system, a fundamental underpinning of the US Dollar’s status as the world’s sole reserve currency.
At a time when US-Saudi relations are at an all time low, Saudi Arabia’s pivot toward Asia is unmistakable.
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