The Arrogance of Power: Wall Street’s Delusion According to Dsouza's article, the Wall Street elite smirked at the very idea that BRICS — the alliance of Brazil, Russia, India, China, and South Africa, now swelling with new members like Iran, Egypt, and Saudi Arabia — could mount a serious challenge to the U.S. dollar. The traders pointed out that 90% of global foreign exchange involves the dollar. They scoffed at gold backing. They touted America’s gold reserves. They leaned on the past — claiming it took a world war for the pound sterling to fall and the dollar to rise. But here’s what they failed to understand: history never repeats, but it damn sure rhymes. Historical Context: The Death of…

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