There are many bald assertions in the article and it comes clearly in response to the growing prominence of BRICS. So to me it reads as somewhat fearful. I don't think trading in BRICS is inherently "betting against the dollar" but it's abundantly clear that dollar hegemony is over. We are well on our way to a world of multi-currency trading. If BRICS nations do establish a new reserve currency that will change a lot. It's even been suggested that "the unit" may be a gold-backed currency. That I might see as a bet against the dollar.
I don't have any real basis for this but my "gluten free potato chips" sixth sense is tingling. Are people actually betting against USD in a large sense in favor of another government currency (I'm sure there is constant short term trading, also long term gold bets)
It's also tripping my "if you have to say it, it isn't true" alarm.
I just read somewhere that banks are currently holding a real estate bag that's 7 times more underwater than 2008. I really doubt we're heading for anything other than an even bigger inflation event than what we've already seen.
In which case, maybe USD vs any other currency is dumb (in large part because most global currencies are backed by USD in one way or another). It might be time to think about holding non currency assets though.
