There’s a growing effort to remove the U.S. dollar as the world's reserve currency.

That push is coming from a group of countries called "BRICS," made up of Brazil, Russia, India, China and South Africa. But this de-dollarization could have a huge ripple effect on the global financial system.

The president of Brighton Securities, George Conboy, spoke to our Casey Bortnick to break down how exactly the dollar become the reserve currency and how is it beneficial to Americas.

He also discusses what has prompted the fear that the U.S. dollar could lose its status as the worlds reserve currency and what would a change mean for the value of the dollar and ordinary people's finances.