Among the major fiat currencies in the world today, the U.S. dollar is "the best of the worst." What that means is that there are no better alternatives.

BRICS - QUESTIONABLE MOTIVES

That is especially true when one considers all of the nonsense and suppositions stemming from statements made by member nation representatives of BRICS. Both Russia and China are foremost in their efforts to talk the dollar into disrespect and disrepute. Their motives, however, have nothing to do with providing a better alternative. Their concern is self-centered and focused on elevating their own role and control internationally; both monetarily and economically.

Their efforts are supported by other sovereign nations who are also anxious to join the club for their own reasons. Those reasons come down to "What's in it for me?"

There is additional, more subtle logic behind the efforts to take down the U.S. dollar. With nothing better to offer, the more likely goal is to  "take down your enemy". By doing so, if successful, you might elevate your own status by default.

Can you trust your sworn enemy to provide a better alternative?

WHAT DOES "BEST" OF THE WORST MEAN? 

As far as the U.S. dollar goes, it shows up before you reach the dregs; i.e., "the most worthless parts of something". In the world of fiat currencies, the U.S. dollar has no equal. Earning the accolade "best of the worst" is helpful in recognizing the empty claims of BRICS and others. That doesn't mean the dollar is without fault, though.

Over the past century, the U.S. dollar has lost ninety-nine percent of its purchasing power. This is the result of inflation created by the Federal Reserve. But, then, all governments inflate and destroy their own currencies. Who can you trust?

GOLD VS U.S. DOLLAR 

There is only one acceptable alternative to the U.S. dollar (or any other fiat currency). That alternative is gold. But that is backwards. Gold was money before the U.S. dollar and all paper currencies. The dollar and all paper currencies are substitutes for gold.

A gold alternative can only work, however, if there is 100% convertibility. It used to be that way, but the U.S. government didn't keep its promise. It revoked the convertibility privilege and inflated its currency worthlessly.

That does not absolve other countries, either. At the Bretton Woods Conference following World War II, other governments willingly afforded reserve status to the U.S. dollar in lieu of gold. They did so because the link to gold was restrictive to efforts by governments to inflate their own currencies.

CAN A GOLD STANDARD WORK AGAIN? 

Of course, it can work. The problem is not the practical use of gold as money. The problem is whether governments will allow it to work. We said earlier that all governments inflate and destroy their own currencies. Inflation is the intentional action of governments and central banks which create money in perpetuity. Even when convertibility exists, the 'value' of fiat currencies are always suspect.

In addition, any practical and realistic return to the use of gold would be accompanied by financial crises and economic dislocation. Healing can be very painful.

CONCLUSION

For better or worse, everything financial and economic today, is still about the U.S. dollar. That is neither good, nor bad. It is just a matter of fact. If you are expecting a miraculous solution to  existing problems by looking for an alternative to the U.S. dollar, you aren't going to find it.

Gold is the preferred choice as money and has proven itself historically to be the "best of the best". Unfortunately, more than one hundred years of financial abuse have created big problems that need to be resolved. Yes, you must get sicker before you can get better. (also see Gold Price, Inflation, Dollar Collapse, & BRICS)

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