Africa businessmen are in trouble as dollar in danger .
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The dollar in danger - here are 10 countries that want to abolish the currency and will not accept payments with it
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The BRICS countries pose a growing threat to the US dollar, which is the most widely used currency in international trade. President Donald Trump has vowed to impose 100% tariffs on members before his inauguration if they support an alternative or attempt to replace the dollar with another currency. This economic group has indicated that it wants to reduce its reliance on the dollar in cross-border trade, but currently does not have a strong strategy for developing a replacement currency.
Here are 10 countries that want to ditch the dollar and stop accepting payments
Although the concept has been mentioned many times, it is still unclear how it will be implemented. There are several obstacles to the feasibility of this project, as the dollar is still the world's main reserve currency and still controls the majority of trade in important commodities such as gold and oil. The BRICS countries - Russia, Brazil, India, China, South Africa, Egypt, Ethiopia, Indonesia, Iran and the United Arab Emirates - have expressed their desire to replace the US dollar.
Created in 2009, the BRICS bloc seeks to promote the interests of developing economies and reduce their dependence on the dollar in cross-border trade. Member countries have expressed interest in exploring alternatives that would give them greater control over their markets, as the US currency dominates international trade. Leaders such as Brazil's Lula da Silva and Russia's Vladimir Putin have recently reaffirmed their desire to reduce the power of the dollar. However, the dominance of the US currency in the world market makes it difficult to develop a competitive currency. Despite the BRICS' efforts, it is unlikely that an alternative currency will be accepted in the near future due to global stability and confidence in the US economy. With the rising cost of a range of imported goods, including coffee, clothing, electronics and minerals, the prospect of imposing tariffs on goods from BRICS countries has raised concerns. While it is unlikely that a 100% tax would be enacted, it could increase inflation in the US and the cost of living for consumers, as imported goods would become significantly more expensive.
Here are the dollar bills you can no longer use
Although $100 bills are the most widely used currency, paper money is certainly changing. Concerns about the future of cash are growing as more people around the world turn to digital payment methods. There has been recent talk of possibly eliminating this iconic note due to the emergence of digital currencies and changes in consumer behavior. For now, the $100 bill is here to stay, although changes are expected in the future. The Bureau of Engraving and Printing, the Federal Reserve (Fed), and the Secret Service are working with the Anti-Counterfeiting Advance Guidance Committee (ACD) to improve detection and incorporate security features.
The current goal is to preserve the monetary value and meaning of money. The $100 bill is currently the most popular denomination in the country and prominently features the image of Benjamin Franklin, a statesman and scientist considered one of America's most beloved people. Benjamin Franklin is one of the most famous figures associated with the United States. In addition to being one of the Founding Fathers and helping to write the American Declaration of Independence, he also invented the lightning rod.
The updated $100 bill is expected to be issued in 2034 or 2038, according to reports from the Federal Reserve and the Bureau of Engraving and Printing, as well as data from the ACD and the Secret Service. The value of US dollar bills has changed over time. In particular, George Washington has continued to appear on the dollar bill since its inception in 1876. Dollar bills as we know them today first appeared on the market in 1791, when Alexander Hamilton founded the Bank of America. The new design will be the fourth redesign of the $100 bill in the past century. The most recent was introduced in 2013. The choice to put Franklin on the front of the banknote represents the American dream, which is reflected in Franklin's story of overcoming hardship to become.
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