Gold is hitting new all-time highs as BRICS international locations proceed to stack towards the U.S. greenback. Gold will proceed going up so long as international locations hold printing cash and operating enormous deficits.
Central banks are additionally shopping for and dumping U.S. bonds, as they don’t need to be sanctioned like Russia was sooner or later.
The financial bloc BRICS is the guts of those causes: No, not the masonry form. The financial form.
It’s an acronym for Brazil, Russia, India, China, and South Africa, and for 14 years now these international locations have united to problem the hegemony of the US with a brand new world foreign money: BRICS.
BRICS: The New World Currency
In 2014 Russia was booted out of G8 — the group of the world’s wealthiest nations — for his or her aggression in Crimea. G8 grew to become G7.
No biggie, stated Putin, he stated, and I quote, “Bon appetite.”
As a result of he knew what was coming. The New World Order, with China, India, and Brazil on the helm.
Independently, these international locations are dwarfs to the U.S., however collectively, they characterize 40% of the world’s inhabitants and, in keeping with the IMF, 50% of the world’s GDP by 2030.
Right here’s what the BRICS president Marcos Prado Troyjo needed to say a number of years about not needing the U.S. greenback: “We have implemented the mechanism of mutual settlements in rubles and rupees, and there is no need for our countries to use the dollar in mutual settlements. And today a similar mechanism of mutual settlements in rubles and yuan is being developed by China.”
BRICS: Why America Has Reaped What It Sowed
BRICS actually began placing issues into movement 14 years in the past. Have you learnt what occasion occurred 14 years in the past? Suppose actually arduous. I’ll offer you a clue: it concerned collateralized debt obligations, poisonous subprime mortgages, and a variety of quantity crunching by “quants” on Wall Road.
The monetary disaster of 2008.
The U.S. greenback is the settlement layer of the world, that means that when two nations commerce, they don’t do it in Euros or gold, they do it in U.S. {dollars}.
So when 2008 occurred, a disaster that was fully avoidable and was caused by the cupidity and stupidity of banks within the U.S., what occurred?
Everybody WORLDWIDE felt the ache. Most unnecessarily, we’d add, resulting from cupidity from American banks.
The Way forward for the US Greenback
In the meantime, in addition to Saudi Arabia, a number of international locations have all expressed curiosity in becoming a member of BRICS. And so they’re additionally pondering of creating it a gold-backed system which is able to make it tantamount to a brand new world reserve foreign money.
If we had been you, we might begin paying consideration.
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