Sarah SullivanFounder and CEO of SuGo Capital

What is a BRIC and what do they have to do with the dollar?

Name: What is a BRIC and what do they have to do with the dollar?
Uploaded: 2023-04-14T18:13:46+00:00
Duration: 53 s
Channel: Sarah Sullivan
Description: This is a YouTube video by Sarah Sullivan (uploaded April 14, 2023) explaining BRICS (originally BRIC) and their challenge to the US dollar. The speaker…

14 Apr 2023 · 1 min

Watch on YouTube

0:53

This is a YouTube video by Sarah Sullivan (uploaded April 14, 2023) explaining BRICS (originally BRIC) and their challenge to the US dollar. The speaker states BRIC formed in 2001 and argues the US dollar functions as the global reserve currency, accounting for roughly 60% of global value. The video claims nearly all international trade is done in US dollars and that liquid natural gas and petroleum used to be traded 100% in dollars; it emphasizes BRICS as a mounting geopolitical/economic force pressuring the dollar.

Questions this video answers

2001.

60%.

Liquid natural gas and petroleum products.

Chapters

Well, in 2001, the nations of Brazil, Russia, India, China and South Africa got together and said, you know, we're being, we're being bullied by the United States, which is a fact. We bully people with our currency as the global reserve currency. Our currency accounts for 60% of all value. The US dollar accounts for 60% of all value around the world. Almost all international trading is done, currently done with the US Dollar. Now two weeks ago, I would have said all international trading, especially in liquid natural gas and petroleum products, 100% of that used to be done in the US dollar. BRICS is a mounting force that people need to pay attention to. There's people who say they're taking over. There's people who say they're nothing. I don't, I don't really have an opinion. Again, prepare is better than predict. What I can tell you is that the BRICS nations are mounting a very strong effort to put the pressure on the US Dollar.