The Ruskies have over the last few years slowly reduced their dollar holdings as has China, and India. But the Ruskies could not alone destroy the dollar.
If China, Russia, and India all dumped all their dollars at the same time they could create a dollar crisis. But they cannot do it now because the dollar is the reserve currency.
Now, once the BRICS create a currency to challenge the dollar they could probably trigger a collapse of the dollar. But they would lose big as well. Not to mention it would probably start WW3...and there are no winners in a global nuke war.
I think, that the BRIC's best play, is to lure Germany into the BRIC's. This would surely break up the EU and France would likely follow. That would be the end of America's dominance. And the world would remain intact. I think that is the smart play, and I think that is the BRIC's game plan.
Just one man's opinion....for what it's worth.
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