Economist's "News and Views" for Wednesday 9-13-2023
'No Question' Expansion of BRICS is Leading to a Gold-Backed Currency: Andy Schectman
Commodity Culture: 9-13-2023
Andy Schectman has been pointing to the BRICS alliance as a real threat to the Western hegemony for some time
And although there wasn't any formal announcement of a gold-backed currency at their recent summit, Andy believes the expansion of BRICS is a clear indication that dedollarization is well underway.
00:00 Introduction
01:19 Current Tailwinds for Gold
09:35 BRICS Summit Implications
28:24 Gold and Real Interest Rates
Six Southern European countries shocked the U.S. by signing a Belt and Road cooperation with China!
DeepIn Moments: 9-13-2023
Hello and welcome to Deepin Moments:In 2023, we commemorate the 10th anniversary of the "Belt and Road Initiative." This visionary project, based on principles of consultation, joint construction, and shared benefits, aims to advance the development of the Silk Road Economic Belt and the 21st Century Maritime Silk Road.
Discover how it challenges U.S. hegemony and fosters political trust, economic ties, and cooperation worldwide. As of January 6, 2023, China has signed over 200 cooperation agreements under the Belt and Road Initiative with 151 nations and 32 international organizations.
Explore how Southern European countries, including Italy, Spain, Portugal, Greece, Cyprus, and Malta, engage boldly with China despite U.S. opposition.
These nations occupy strategic positions along the historic Silk Road, facilitating trade between China and Europe, reshaping global politics, and forging a new paradigm for the Belt and Road Initiative.
Warning: China Starts Dumping US Dollars - Financial Crisis Is Coming
The Atlantis Report: 9-13-2023
China is currently concealing an astonishing 3 trillion dollars in foreign currency within shadow reserves. While official reports from China's State Administration of Foreign Exchange confirmed this figure, experts believe the actual reserves might be around 6 trillion dollars.
This lack of transparency in China's financial practices raises significant concerns, creating new and substantial risks to the global economy.
What's even more unsettling is that over time, China's management of its currency and foreign exchange reserves has become increasingly opaque, making it difficult for the rest of the world to gauge their true intentions and strategies.
It's not just about hiding a portion of their wealth; it's about the collateral damage that the world will experience. China's role as an economic giant directly affects the rest of the world, by how they manage their economy, and their currency.
The lack of transparency also makes it extremely challenging to predict their next move, which has now become an even bigger problem.