Last week, China and Brazil agreed to settle payments for trade in yuan and real, bypassing the US dollar. This is the latest in a series of events pointing to the imminent end of the dollar as the world’s reserve currency.

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Saudi Arabia, Turkey, and Egypt plan to join BRICS, the economic alliance of Brazil, Russia, India, China, and South Africa. The timing is awkward for President Biden as he prepares to meet with the Saudis, but Turkey’s membership is potentially more significant.Continue Reading