BRICS and the American Dollar

BRICS is an acronym for Brazil, Russia, India, China, and South Africa. Sr. Analyst Laurence Sanford talks to podcast host Joy Votrobek about these countries creating a trading bloc and, in doing so, not trading in the U.S. dollar. Instead, they have "The New Development Bank" headquartered in Shanghai, China. Finally, Saudi Arabia is considering joining BRICS. The U.S. dollar has the bedrock of the oil industry.