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BRICS expansion: 85% of global population to dump U.S. Dollar 'all at once' — Schectman (Pt 1/2)

BRICS expansion: 85% of global population to dump U.S. Dollar 'all at once' — Schectman (Pt 1/2)

Kitco News:  8-8-2023

Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Andy Schectman, President and Owner of Miles Franklin, who says a new commodity-backed BRICS currency is an inevitable outcome in the long term.

But for now, investors need to pay close attention to the relationship between Saudi Arabia and the BRICS alliance.

Schectman explains why the move to de-dollarize is already 'past the Rubicon' and discusses what to expect at the BRICS August summit taking place in Johannesburg, South Africa.

 Schectman explains why he sees 85% of the global population dumping the greenback in due time.

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He also examines the U.S. reaction and gives his outlook on gold and the U.S. dollar.

00:00 - Intro

03:40 - Saudi Arabia and BRICS

 08:30 - BRICS expansion

12:12 - Growing mutual cooperation

15:31 - New BRICS currency

 24:35 - BRICS summit in August: why you should watch Saudi Arabia

26:44 - Pricing of oil

28:44 - De-dollarization is accelerating

31:40 - U.S. reaction to de-dollarization

 36:09 - These players to attend BRICS August summit

 37:40 - U.S. dollar outlook given a global move away from the greenback

https://www.youtube.com/watch?v=DOmeHZfI0RA

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