Gold is reaching an all-time high as BRICS countries stack up against the US dollar. As long as the country continues to print money and carry out the enormous deficit, gold will continue to rise.
Central banks also buy and dump US bonds because they don't want to be approved like Russia did in the future.
Economic blockbricks are central to these reasons. No, it's not a masonry species. Economical kind.
It is an acronym for Brazil, Russia, India, China and South Africa, and for 14 years these countries have united to challenge US hegemony in the new global currency, BRICS.
BRICS: New World Currency
In 2014, Russia was kicked out of the G8, the wealthiest group of countries in the world, due to an attack in Crimea. The G8 has become the G7.
It's not a big deal, Putin said, he said, and I quoted “Bong Appetite.”
Because he knew what was coming. A new world order with China, India and Brazil.
Independently, these countries are American dwarfs, but together they make up 40% of the world's population, and by 2030, according to the IMF they make up 50% of the world's GDP. .
Here's what BRICS President Marcos Prado Troiglo had to say for several years that he no longer needed the US dollar. Village. And today, a similar mechanism of the ruble and the original mutual reconciliation is being developed by China. ”
BRICS: Why did America reap what it owned?
The Brics started moving things 14 years ago. Do you know what kind of events happened 14 years ago? Think about it really hard. I give you a clue: it included secured debt obligations by Wall Street “Quants,” toxic subprime mortgages, and many more.
The 2008 financial crisis.
The US dollar is the world's settlement class, and when two countries trade, they don't do it with euros or gold, they do it with the US dollar.
So, when 2008 happened, what happened to the entirely avoidable crisis brought about by the subisotopic and stupidity of US banks?
Everyone in the world felt pain. Most unnecessary, we might add, for Cupid from American banks.
The future of the US dollar
Meanwhile, in addition to Saudi Arabia, several countries have all expressed interest in participating in BRICS. They also think about making it a gold-backed system, making it equal to the New World reserve currency.
If we were you, we will start paying attention.
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