The world is taking a dangerous turn, but many are still denying the risk. While American political leaders spar over culture wars and debt ceilings, a powerful coalition of emerging economies known as BRICS is steadily and strategically working to reshape the global economy in its favor. Their next major step comes this July 6–7, when leaders gather in Brazil for the 2025 BRICS Summit, aiming to advance their quiet revolution in global finance.

At the heart of BRICS’s mission is a low-key but determined campaign to weaken the dominance of the U.S. dollar. And with it, tear down the financial foundation that has underpinned America’s global power for nearly a hundred years.

Despite President Donald Trump’s clear warnings, including threats of 100% tariffs on BRICS goods if the bloc dares introduce its own currency, the group continues laying the groundwork for a parallel financial system. They aren’t launching a formal challenge overnight. Instead, BRICS leaders, particularly China and Russia, are playing the long game. Patiently building the infrastructure needed to strike when the moment is right.

A Growing Bloc with Global Ambition

The BRICS bloc now represents over 40% of the global population and 30% of the world’s GDP. It was originally made up of Brazil, Russia, India, China and South Africa. With the addition of Indonesia, Iran, Ethiopia, Egypt, and the UAE, and with dozens more nations seeking “partner country” status, BRICS is transforming into a powerful coalition of the Global South. And a counterweight to the Western-led institutions like the IMF, World Bank, and SWIFT banking system.¹

While the group lacks a formal treaty or permanent headquarters, its influence is undeniable. Their New Development Bank (NDB) has already expanded lending from $10 billion to $25 billion since 2020. Projects range from Brazilian wind farms to Indian solar parks and South African rail modernization. The investments aren’t just economic. They are political statements of independence from Western finance.²

Building a Parallel System

In June, Russia’s Kirill Dmitriev announced that internal trade among BRICS countries had crossed $1 trillion. That's a major milestone in building economic interdependence without the dollar. China and Russia have been leading the charge. They've signed bilateral agreements to settle trade in yuan and rubles, avoiding SWIFT and dollar-based banking entirely.

“If they block us, we’ll find alternatives,” Putin said, referencing Western sanctions that cut Russia off from major financial networks following its invasion of Ukraine. “Using the dollar as a weapon only accelerates the transition to new financial structures.”³

And those structures are coming together. Quietly, but deliberately. BRICS is piloting the BRICS Bridge, a cross-border payment platform built to reduce reliance on the dollar. Indian tech giant Paytm partnered with Brazilian fintech Nubank to test the system, with projections that it could enable $1 trillion in transactions by 2030.

The group has also floated the idea of a shared BRICS currency backed by gold. India, wary of giving China too much leverage, has downplayed the idea publicly. Behind the scenes, however, efforts are clearly advancing.

“The goal is not to exclude or isolate,” Putin said, “but to build a fairer economic system — one that cannot be disrupted by political whims.”⁴

Internal Tensions, External Focus

Despite its ambitions, BRICS is not without friction. India and Brazil favor a slower, consensus-driven approach. China and Russia are pushing aggressively for expansion and deeper integration. Even the upcoming July 6–7 summit in Brazil has been shaken by turmoil. President Xi Jinping and Vladimir Putin will both skip the event. Putin is avoiding travel due to an ICC warrant and Xi citing “scheduling conflicts.”

But even as their top leaders stay home, their priorities are moving forward. Russia’s delegation is expected to push for a unified BRICS payments platform and for reforms to global bodies like the IMF and UN Security Council. Demands designed to amplify the voice of what Putin calls the “world’s majority.”

Reason for Alarm

The United States is right to be concerned. The strength of the dollar has long underpinned U.S. global leadership, military power, and economic dominance. But the overuse of sanctions has backfired. Nations are tired of being subject to Washington’s financial dictates. BRICS is becoming the vehicle through which they fight back.

President Trump sees the danger clearly. He’s not wrong to warn that a formal BRICS currency could cripple U.S. exports, spike inflation, and undercut global trust in our financial system. If half the world’s population starts transacting in a new currency, or even just chooses to bypass the dollar, the shockwaves through Wall Street, the Fed, and Main Street would be catastrophic.

Western economists may dismiss BRICS as disorganized or lacking in trust. But Rome didn’t fall in a day, and neither will the dollar. What matters is that BRICS is laying the pipes, pouring the concrete, and building the infrastructure to make that fall possible when the conditions align.

Conclusion

Piece by piece, payment system by payment system, trade deal by trade deal, this bloc is preparing to challenge the dollar and create an alternative world order that favors the Global South. As the United States grapples with internal divisions and mounting debt, BRICS is forging a system that could one day flip the global financial script.

Ignore it at your own peril. The better move is to prepare now for a multipolar world by owning physical precious metals and placing them in a Gold IRA while the dollar still holds the upper hand. Contact American Hartford Gold today at 800-462-0071 to learn more.

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Notes:

1. https://www.timesnownews.com/business-economy/economy/how-the-push-for-brics-currency-is-threatening-the-dollars-existence-will-it-bring-on-a-new-financial-order-article-152164738

2. https://www.ainvest.com/news/brics-expansion-era-infrastructure-tech-emerging-markets-2506/

3. https://www.ainvest.com/news/brics-expansion-era-infrastructure-tech-emerging-markets-2506/

4. https://www.timesnownews.com/business-economy/economy/how-the-push-for-brics-currency-is-threatening-the-dollars-existence-will-it-bring-on-a-new-financial-order-article-152164738