More News, Rumors and Opinions Thursday Afternoon 8-22-2024
BRICS might go dual currency and the US Dollar isn’t one of them
It’s a one-two punch.
U.S. Treasury Secretary Janet Yellen issued a serious warning over the swelling $34 trillion U.S. debt just as China’s President Xi Jinping returned home after signing 12 contracts with European nations to strengthen their economic ties.
Two facts are emerging:
The US dollar is becoming less and less valuable
Countries are starting to favor their own currency and strengthen their own economy
BRICS Plus have insisted that they will be using each other’s local currency but there is also the impending need to use one currency that will have a consistent value all the time across different nations. The US dollar is slowly losing its luster. Countries are realizing that supporting the USD means they are betraying their own currency and putting them at the mercy of the US.
Gold is the only feasible and probable candidate as a global currency. Central banks have been buying gold at a record pace for the last several years, with many even remaining unreported.
BRICS Plus could go dual currency. Member nations would use a combination of their local currencies and gold. The first would be for buying goods and services on a daily basis and the second as a permanent asset that has residual value.
Dual currency is not a new concept. El Salvador made history when it adopted bitcoin as its official currency alongside the U.S. dollar in 2021 with mixed success, sparking debate whether other countries would follow suit though no major countries have yet.
However, gold and a local currency make more sense given that most countries already have both. Gold also has an innate value that Bitcoin doesn’t have.
If things get any worse in the US, BRICS Plus could fast-track their plan and officially use gold.
The current gold bull market could just be the beginning. Unfortunately, we won’t know just how far the BRICS Plus Nations are into the plan until it's too late.
So, don’t wait.
Before gold goes to $5,000 as predicted by many, invest now and enjoypossible gains.
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick [Aki Iraqi bank friend who runs a bank in Michigan] Question: "Have you heard the three zeros will coexist for ten year?" Yes, we have heard about it but we did not hear the number 10. We heard that it would be over a long period of time. Duel pricing in the market would be controlled easier. Also, it would give the CBI longer time frame to collect the citizens 3 zero notes.
Militia Man They were definitely coming after Alaq. Why? Because their cash cow...is getting dried up and obviously they're getting squeezed. You not only have people in Baghdad getting squeezed you got people in Kurdistan area are going to get squeezed as well because they are on the wrong side of the trade. They have different agendas.
EXPECT GOLD TO HIT $8,000 AND SILVER TO HIT $800. AND THIS IS HOW IT WILL HAPPEN...
Greg Mannarino: 8-22-2024
Global Gold Repatriation Surge - Why More Nations Are Bringing Gold Home, Why This Is Significant
Kitco News: 8-21-2024
More countries are choosing to repatriate their gold and bring it back to their own borders for storage, Andy Schectman, President and Owner of Miles Franklin Precious Metals, tells Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News.
Schectman adds that this trend is accelerating and breaks down why this is as important as central banks choosing to step up their gold purchases in the last few years.