In December of 2025, Brazil passed the BRICS leadership torch to India, which wasted no time revealing its priorities for the economic alliance—to build an international payment system that rivals the SWIFT system and chip away at U.S. economy hegemony by attacking the exorbitant privilege of the U.S. Dollar. Defending the dollar should be the easiest policy ever. Instead the Trump administration has accelerated the world’s collective desire to put the U.S. in its place and end our reign of economic despotism.

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