Finance..

 

While the BRICS alliance is strengthening its banking system, the US seems to be on a downhill. In the last three years alone, 15 US banks collapsed renewing fears of financial instability across the country. 

The BRICS bloc has pushed de-dollarization efforts especially since it expanded its numbers. Now, the pressure is mounting on the US dollar, as the country’s banks face over $500 billion in unrealized losses, according to a new report.

A finance expert at Florida Atlantic University revealed that the United States’ unrealized losses on investment securities are over $500 billion as of the end of Q2 2024. This is a slight downtrend from the first quarter of the year: a decrease to $513 billion from $516 billion.

 However, it’s still a significant loss for one of the strongest economies in the world. 

Banks are now saddled with more than half a trillion dollars on the balance sheets in their papers. The development shows that the US banks are at risk while the central banks of BRICS are massively accumulating gold to hedge against the US dollar.