by Greg Hunter, USA Watchdog:

Financial writer John Rubino warned two weeks ago that whatever came out of the BRICS (Brazil, Russia, India, China and South Africa) meeting this past week would be bad for the dollar.  The dollar did not crash, but the prospects for it remaining the reserve currency of the world took a beating.  The BRICS added a half dozen countries into its group.  Two of the most troubling for the dollar are Saudia Arabia (SA) (where the petrodollar started) and United Arab Emirates (UAE) where the U.S.  has huge Navy and Airforce assets.  SA and UAB officially joining the BRICS was nothing short of a stunning rebuke of U.S. financial and military power in the Persian Gulf.  Rubino says, “So, now we’ve got the world’s biggest oil exporter and the site of a very big U.S. military presence in an anti-dollar coalition. . . .