cheers Cosmo..... I can't dismiss BRICS and wouldn't think of trying. each are sovereign nations and have the right to form their own arrangements.
the dominance of USD has resulted in a gross support of US as the 'gold standard'. yet as you rightly point to the US is on the very brink of bankruptcy should a bloc of nations decide to adopt a different unit of currency for international trade.
with India and China and the rest of the increasing size of the BRICS bloc, nearly half the global population could adopt the Chinese currency. would this cripple the US economy? I don't know but it certainly would be a earthquake in economics.
what if the BRICS impose sanctions on the US? now that would damage them badly the consequences of which could destroy the US and global trade/economics.
even more important then to avoid making enemies of any nation in the BRICS.
