De-Dollarization Wave Slams US Banks, Triggering $500B in Losses

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Article Summary

The BRICS alliance (Brazil, Russia, India, China, and South Africa) is intensifying its efforts to reduce reliance on the US dollar, adding pressure to the already strained US banking system. With over $500 billion in unrealized losses on investment securities and the national debt surpassing $35.7 trillion, US banks are facing a precarious situation. The collapse of 15 US banks in three years, along with rising interest payments and uninsured deposits, heightens concerns about financial instability. Finance expert Rebel Cole warns that these issues, coupled with BRICS nations dumping US treasuries and stockpiling gold, could further destabilize the banking sector and lead to severe liquidity problems if de-dollarization gains momentum.

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