Over the past few years we have all been able to observe the rapid growth of the BRICs countries as a new financial-, currency and economic bloc. The biggest problem facing these countries, however, is to implement a transaction system that eliminates the considerable mistrust among member states. There is a clear desire to move away from the dollar, not least since the Americans armed the dollar via the Swift system and positioned it against its geopolitical opponents.

However, the figures show that moving away from the dollar and US dollar-based collaterals such as short-dated US government bonds is a gradual and difficult process, as the global financial system largely functions on US dollar-based assets. Who wants to have a large amount of programmed Chinese Yuan on their balance sheet? A partial return to a gold standard is on the cards, but would be an evolutionary step backwards given the problems of concentration and manipulation of the gold market and asset expropriation. It has already failed several times and would do so again. And so we can observe the erosion process of the dollar as the world reserve currency in all serenity, there seem to be no serious interruptions on the way to the bipolar global economy.