China, India and Russia have all chosen to do away with the petrodollar.
For one primary reason.
To circumvent the energy sanctions imposed on Russian oil and gas.
Countries, akin to the BRICS (Brazil, Russia, India, China, and South Africa) alliance, have united to conduct trade amongst themselves using their respective currencies.
Recently, Saudi Arabia - an original member of the OPEC cartel - has also aligned with the BRICS nations.
Speculation suggests that the already fragile US dollar could potentially collapse.
This implies that every dollar held in a retirement account could suddenly lose its value.
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