Hudson and Desai On the Perils and Promise of De-Dollarization

The desire of many countries around the world to switch currencies is rooted in the fact that the dollar is not an international or a reliable currency. Both Russia and Venezuela have had their dollars frozen and stolen by  Mordor. The dollar serves the economic and political interests of the United States. In reaction to this, many countries have engaged in bilateral agreements where they trade in their own currencies. BRICS is in the process of developing an alternative to the dollar at an international level.