BRICS New Digital Currency is Coming! What Happens to US Dollar Now?
Video Transcript
Subscribe To Big Money 2024 will be remembered as the turning point for the collapse of the US dollar and what the US government is doing right now is so dangerous it literally will change the entire future of our world now I know many people might think that the dollar being replaced as the global currency is just a myth I mean that’s exactly what this Business Insider article reported last month telling the world there is no big shift away from the US currency but according to JP Morgan’s head of global Commodities 1 of global oil trade used non-dollar currencies in 2023 now using foreign currencies for 20% of oil trade is a huge number considering the fact that just a few years ago the US government had an almost complete Monopoly on the oil market with the Petro dollar but the 16,000 us sanctions levied against Russia have proved completely useless and only accelerated more countries desire to shift away from the US dollar for trade now one of those countries is of course China who has seen their currency the R&B rise to the number four Global Currency according to Swift if there is one chart you remember from today’s video let it be this one which shows the share of China’s crossb payments and receipts in US dollar compared to R&B in just 13 years China went from closing 0.3% of its crossb transactions in its local currency to now over 50% that graph is unbelievable but China’s latest moves are even bigger and have sent shock waves across the financial sector as China dumped a record $53 billion worth of us treasuries and agencies in the first quarter of 2024 Richard Turan a bestselling author and fintech Insider summed it up perfectly with this simple quote dollarization will be a slow process until it isn’t which also reminds me of another famous quote from Ernest Hemingway’s 1926 novel The Sun Also Rises how did you go bankrupt two ways gradually then suddenly once you remove yourself from the US media bubble and start to pay attention to what countries around the world really want you’ll quickly see that dollarization is not a myth but something that governments around the globe are actively working towards this October the bricks Alliance will announce a new commodity back currency during its annual Summit but unlike the Euro which replaced currencies of individual countries this new bricks currency will be backed by gold and used exclusively for trade while preserving The Sovereign currency of its members everyone there’s a lot that we need to break down in today’s video but to help us all better understand this I’m bringing in a true Financial expert this is Kevin De Merit from leer Capital who’s going to help us all understand the latest moves from China bricks and what this means for the future of the US dollar and our Global markets Kevin thank you so much for joining our program today and helping us all understand these incredible events that are going on in our Global Financial Market yeah thanks for having me Cyrus really appreciate it love the last uh interview and love your program oh fantastic well uh Kevin I want to go really into the main news story that is really dominating headlines right now and I’m going to go ahead and bring up a graph here because this is something that um you know Bloomberg even reported you know China sells record sum of US debt amid signs of diversification and what we’re looking at is really a diversification away from US dollar assets and this is the key thing I want people to take away gold share in China reserves Rises to the highest since 2015 and before you mention that I just want to kind of give a visual to the people if you look at this graph you know we’re looking at treasuries in the pink you can see 2024 you know huge numbers going down and I want to talk about this Kevin because I think this is something that a lot of people are discussing hasn’t really been you know really reported in mainstream news you know I think maybe a lot of us in the US are just not paying attention to this a lot of other stories going on but what’s going on in this bond market and with what we’re seeing with the US dollar and things like that well I think there’s a few things going on with with China uh number one they would love to have their own Reserve world currency right so the bricks uh they’ve been a part of that so they’re working on that and look if you’re going to do that then why are you holding you know US Dollars you want to get rid of US Dollars and hold something else to hold something else that they have been purchasing is a heck of a lot of gold uh so what people have been hearing about is gold hitting record highs and can’t figure out why because here in the United States the demand for gold is probably about what it’s what it should be uh without some sort of economic event going on then why is the gold price so high well it’s China they’ve been selling off an enormous amount of uh treasuries and and purchasing gold um the second reason I think it’s it’s it’s a big deal is why would you want to hold US currency in the form of a treasury if you’re only picking up let’s say four or five% where we are today right but since 2020 the US dollar has lost in spending power or purchasing power terms 24% of its value you just wouldn’t want to be holding it right we wouldn’t want to hold it here and somebody else in a different country doesn’t want to hold it either so I think you have a couple of things going on we printed up so much money that the inflation rate has been high our purchasing power is going down everybody feels that so do they so they want to get rid of it for that reason and on the other hand you know they’re they’re looking forward over the next five six seven years to can we get this brics currency as a world Reserve currency some something that some other countries can trust and are going to back uh like they do the U the US dollar but they’ve sold a lot you know the first quarter of this year they sold 3 billion do and it you know it might not sound like a lot but they’re holding 800 billion and that first quarter represents six and a half percent of their Holdings so if they continue to do that we’re at 24 25% of our of their Holdings that they’re liquidating by the end of the year yeah I think that’s a thing that people don’t realize is that you know China was the largest holder of US debt several years ago and it has been a very systematic moves from China you know hasn’t it’s been very gradual it’s been very slow but you know they they were well over a trillion dollars like you said it’s now down to 800 billion and that’s that is a staggering amount you know if it’s you know equivalent to six 6% in the first quarter and we see a direct correlation with the gold as well because I think this is what’s interesting is I know you and I both follow the gold market very closely but we saw 2021 uh or sorry 2022 there was record amount of central banks around the world purchasing gold we saw the same thing in 2023 and then here we are almost in direct correlation with China dumping these 53 billion we’ve also seen central banks around the world continue this buying spree so we’ve seen them once again we’re off to a very hot start in 2024 so this trend of buying gold and really trying to hold this as as an asset it I mean it’s been going on for you know three years now with central banks I mean it’s not slowing down at all no it’s it’s speeding up and that’s why we’re at record highs and a Business Insider today came out with an article that says the US dollar has become so weaponized That central banks are snapping up politically neutral gold so there’s so many different reasons that these countries around the world are thinking about liquidating uh paper dollars mostly US currency and moving over to something you cannot print the central banks get it you know the world’s waking up to the fact that the governments are Printing and printing printing not just the United States but everybody around the world and so usually in these cases uh when you look back through the history of world currencies we’ve had six since 1840 they usually last about 95 to 100 years the US dollar has been around as a World’s Reserve currency for 103 years but there’s a very specific pattern that each one of these six World currencies has followed where it fails in the end and the United States is following that pattern almost to a te and that’s really in my opinion what investors need to pay attention to what happened in the first 50 to 70 years of a world currency and what happened in the last 30 years of it they were fairly fiscally responsible the first 60 70 years it’s the last 30 years that debt skyrocketed the politicians became drunk on you know spending um and that’s exactly where the United States is now we had what8 trillion dollar of debt in 2008 where at 34 trillion today we have a trillion dollars worth of uh interest payments now and they keep spending money on everything from the Ukraine war to uh you know paying off student loans right you know just let’s throw money everywhere and every time you do that Cyrus the value of your dollar becomes worth less right oh it’s it’s incredible I mean we’ve seen that you know in real time just since the pandemic and the rise of inflation and again there’s a direct correlation you know once this trade War get with China started and we’re you know spending money in Wars we’re going to talk about those Wars and all of this spending a little bit later on in the program as well but you know we’ve just seen that reflected in daily life in America where I think there’s an interesting thing where you know the stock market you know is you know performing relatively high but actually if you ask Americans most people have a negative perception of that saying hey the stock market’s down because they don’t actually realize what’s going on in the stock market they just go to the grocery store and they just see wow wow what is what is this inflation you know my dollar is just not what it was even two years ago right the cost of everything has just absolutely skyrocketed across the board and made things you know almost you know unaffordable for a large portion of the United States and that’s a tough one but I want to go I want to shift to another news article because this is directly what we’re talking about is this is an interesting one this was announced just a couple days ago that Thailand announces its plans to join the bricks Alliance so I think this is something that you had touched on I want to talk about this a little bit as well because we’re we’re always talking about China and Russia obviously these are you know two very big adversaries to the United States but we’re seeing other countries as well you know in addition to that 53 billion dollars that China had had dumped in these bonds Belgium which is which is also a very close ass Ally of the unit States they they’ve dumped 22 billion so it’s it’s not it’s not just China you know I don’t want it to be people to think oh it’s just China and Russia doing this these are countries around the world Belgium saying hey we are going to reduce our US dollar Holdings as well now we’ve got Thailand which has always been a very strategic Ally for the United States in Asia um certainly you know one that would would have really good relations you know with America and now they’re saying hey we want to get into this to the global South you know we want to be partnering with China Russia we want to be expanding our opport unities and dollarization is a large part of that right yes so I look for tipping points when it when it comes to investing yeah what are tipping points either negative or positive right the Tipping Point for the US dollar started happening when bricks was announced and here’s the Tipping Point if you have a few countries if you had Russia saying look we’re going to make the ruble the world’s Reserve currency not a lot of people are going to pay attention to that when you get the five countries together which represent 40% of the population of the entire world right then you have it you start to have what looks like a Tipping Point what you’re talking about is you’re now adding in more countries and it’s not just Thailand it’s 40 other countries that are taking a look at this including Saudi Arabia which we’ve had an incredible relationship with a Petro dollar with since the 1970s that is a Tipping Point when you start moving the population over 50% that would like to move to a different world Reserve currency the United States dollar is going to have incredible problems because we’ve exported inflation to those other countries right right we’ve exported the dollars that we’ve been printing to these other countries if you think about it as a stock if everybody listening thought about this as a stock let’s we’ll just use an example of Apple stock if 50% of Apple stock was held in a mutual fund somewhere and it didn’t see the light of day for 10 years then 50% of its stock is somewhere else I put an x amount of Demand on the rest of the 50% that’s out there it’s going to push it up more if I issue more stock it isn’t so bad because the other 50% is being held and not seeing the light of day people should think about that 50% in the mutual fund as these other countries these other central banks holding US currency right what happens the day that mutual fund says I don’t want to hold this anymore I’m going to start liquidating 6% 8% 12% % of the of the Apple stock that I’m holding Apple stocks going to start falling the definition of inflation is too much money chasing too few goods right the dollars that are held there are held you don’t see them they’re not available but as soon as they are when you start selling them they come back to the United States now you have too much money chasing too few goods so if you look at the history of of world currencies I know I brought this up I’m going to bring it up again so everybody can understand this Ed off with Portugal lasted about 70 80 years as a world Reserve currency then it went to Spain then it went to Belgium then it went to France then it went to Great Britain and now it’s the United States every single one of them failed for one reason the fiscal policies and the monetary policies that they had in those countries were okay for about 60 50 60 years then the last 30 years they went completely off the rails like what’s happening in the United States and in that country they spent so much and the debt was so high that other countries that were holding those currencies says no I don’t want to hold this currency anymore I’m going to liquidate that’s that was the Tipping Point it took the last part of when that debt started getting out of control like what’s happening here in the United States it only took about five or seven more years before people just said okay you’re not the world’s Reserve currency anymore we’re moving over to France or Great Britain or the United States dollar that’s what feels likes happening right now if you if you are a student of history and you looked at what happened to those six or five other world currencies and what’s happening right now that’s what’s happening so these guys liquidating and and getting the Buy in with the bricks currency to me is one of the biggest tipping points the US dollar has seen for the last hundred years I I agree with you and I think um I want to bring up this stat I thought was really interesting this is according to JP Morgan’s head of global Commodities that a fifth of global oil trade this year was settled and currencies different from the US dollar um as again we’re just seeing this even a strategic move away from the Petro dollar like you said Saudi Arabia I mean very strategic asset or or Ally I should say of the United States obviously we’ve had an incredibly lucrative relationship with the Saudis um hence why the dollar has been so strong for so long but it’s so interesting to see them you know really contemplate their options obviously they want to have a good relationship with the us but they’re not saying hey we’re we’re not closing the door to here you know we’re not going to have an exclusive relationship anymore and you know we’re going to look at other options as well and like you said there’s 40 countries on the on the door knocking on bricks we’ve actually got Russia that is the sitting president of brics as for 2024 so there there’s about 200 meetings that are going on that are scheduled that Russia has scheduled this this calendar year uh this will all culminate with the bricks Summit that will happening in October um I think Indonesia has been rumored to also be potentially going as well which is a huge country um very very big Thailand of course is a big one because it’s the first a nation in Southeast Asia but again it could be a domino could be one of of you know could open the door to many others that are going to want to come into this new alliance and again I agree with you on this Tipping Point Kevin I want to shift to this graph because I think this goes right right along with what we’re saying and this is really a fascinating graph I want people to understand because you know let’s go back to the very beginning so look in the bottom left of your screen and this graph shows the share of China is crossb payments and receipts in US dollar versus REM andb so you know not too long ago I mean 2010 REM andb is almost non-existent it’s 0.3% US dollar absolutely you know the king here 83% and what you saw as of last year March 2023 I mean look at this steady rise I mean it has been a consistent steady rise and I mean unbelievable for that to go now to 52.9% to be settled you know crossborder um you know again payments and receipts in rem andb now as opposed to the US dollar and again a strategic move all of this is happening it really seems that China has a very solid plan here and they’re just kind of meticulously going about this you know every day just moving on you know you know over time when you could start to zoom out you’re like wow went from 0.3 to now you know well over 50% I mean is that not an incredible graph that I think more investors need to understand 100% And when you match it up with where Reserve currencies have have lived over approximately a 95 to 100e uh span of each one of those Reserve currencies and then you start saying okay I need to pay attention to the to the last 30 years what is happening in those P last 30 years will give you some sort of an indication if you can hold on to your status or not none previously did and I don’t think the US dollar is going to either because that graph is 13 years old okay that it started in 2010 here we are in 2024 but the graph itself stops at the end of 2023 so here you are at 13 years and look at what a difference the crossborder payments have shifted it’s a dramatic difference from3 you can basically say it was almost zero and then then it moves up to 52 almost 53% yeah bringing that graph up on screen for everybody to look at while you’re saying that I mean it is it’s it’s incredible I mean it’s incredible to see to see that rise and and again I think it’s it’s again it’s going back to there there’s so many consistent themes that we’re seeing so many things once you start adding them all together you can see the direction that the world is going I agree with your prediction because again you know you you said a few years ago the debt national debt was eight trillion you know seemed like a somewhat manageable um you know number you know maybe there was even a a thought at the time of you know could we ever pay back that debt now that’s ballooned to 34 trillion you know we’ve got a trillion in interest payments I mean now that’s impossible I mean we know for a fact there’s zero chance of ever paying that off there’s no no chance that we’ll ever we’re only going to increase and that kind of leads me to the next thing uh I want to talk about briefly is you know these prot these these continuous Wars and the conflict that we’re seeing I mean we’re sending you know 61 billion dollars more to Ukraine we’re you know we’re we’re sending billions more to Israel like you said we’re canceling out student debt just you know spending money spending money and now I’ve seen new new stry saying hey we you know US military is not spending enough let’s let’s add a couple more you know billions of dollars in there and let’s get that up well past a trillion dollars and and spending for our military on an annual basis is this just only going to add more fuel to the fire Kevin well yeah when you when you print up dollars like that you know you’re paying off the student loans and you’re sending money to Ukraine you’re sending money to Israel you’re sending money all over the place and there’s no fiscal responsibility then what happens to your currency well it’s pretty easy from 2020 to the end of last year we lost 24% of our purchasing power and everyone seeing it from purchasing clothes or groceries you know the things that we all need are getting extremely expensive so that inflation is showing up and it’s going to continue to show up and it’s going to get a heck of a lot worse if China and those other countries continue to sell those treasuries because now not only did we print up a bunch of money here in the United States that’s causing the value of our current dollars to fall but now those dollars that they’ve been holding like the mutual fund of Apple they’re now going to come back into the United States and you’re going to have more money chasing fewer Goods the inflation stays higher that’s why Jamie Diamond says today in Fortune Magazine he says uh says Jamie Diamond says extraordinary government spending has embracing for higher inflation and unemployment that’s stag flation that’s what we had in the early 70s right and nobody’s prepared for that nobody’s prepared for that and the reason that I think he’s concerned is that these other countries could cause the inflation to be much higher than where we are today people just don’t get they’re like hey look if we run into another recession they’ll probably pull back on spending no that’s not what they do they could they spend more they go to quantitative easing it’s going to scare the heck out of these other countries they’re going to start liquidating even more inflation gets out of control that’s what he’s worried about that’s what I’m worried about oh absolutely I think so and Kevin I want to kind of shift to the next segment here where we’re really talking about you know how you know obviously we’re and and this is a channel that is really about education and really trying to you know help people out and I I know that uh you and I obviously very big in Precious medals obviously I think owning gold silver these precious metals is an excellent way to really Safeguard your interest in the future certainly long term um you know owning these precious metals is a great Safeguard against inflation I want you to talk about the last thing here is really just um you know digital currencies and I want you to talk about you know the opportunity that’s really present now with precious metals and you know I think you’ve made a great case for this episode I mean this is again why we keep talking about this topic is it’s so important for investors to understand the many options that you have but why precious metals should be a very good part of that balanced portfolio yeah well I’m glad you you brought up the education because we we put special reports together for people to understand you know what is the history of the world Reserve currencies why did each one of them fail what what does it look like from the US dollar standpoint compared to what happened in history history may not repeat exactly but it does repeat so how can we learn from that and figure out you know what to do so we have a uh Special Report uh put together talking about the digital currencies that the central banks around the world are going 100 miles an hour at a blistering Pace to try to make uh available in the next few years there’s 160 or 140 central banks around the world that are testing out uh uh digital currencies in including the United States uh so we have digital dollars the dollarization which we’ve been talking about and debt uh that’s a special report and we try to take people through each one of those scenarios because they’re intertwined together and why uh each one of them matter and then here’s some solutions to that not just precious metals but there’s other Alternatives as well and what can you do to help protect yourself from a falling dollar and possible dollarization possibly the US uh losing its World Reserve currency status um that’s where people should start sit down understand it if you can and if you can’t give us a phone call we can kind of walk through it a little bit and then go do some more research so that you can really understand it uh Google it do do whatever you need to do but you need to get educated on what’s happening out there otherwise in the next five or six years if you get another fall of 24 25% of your purchasing power and you’re not prepared for that it makes it very hard for your retirement accounts or your retirement uh period uh so we just need to help people get educated and and prepared yeah oh I think that’s a a very big thing and that’s why I love partnering with ler Capital because your primary focus is on education and I think you have a great report that I’ve read that is a gold at $3,200 an ounce you know that’s another report that you’ve been able to give out to many of our subscribers and many people have messaged me you know really telling me that they really enjoyed that report because it’s so well written and again I think that’s really the the primary goal here is is educating yourself and I think you just said the 3DS it’s um digital currency dollarization and debt right right they 3DS so we’ve got another Special Report um Kevin let’s um you know kind of come to the end of today’s interview and I just want to give you the final words and I think you also have a special offer for the people that are you know viewing today’s video and uh again I just want want everybody to really understand to use l Capital as a resource I think that’s really the key message is you know have a phone call with them if you’re interested in learning more you guys do a great job of educating I’ve I’ve certainly learned a lot more and it’s something that I’m very passionate about because I follow geopolitics every day it’s what I do for a living and I want to make sure that my assets are safe and that I’m building a good future for my family as well yeah again back to the education it that’s what we would like to do because an educated investor is just a a much better uh investor they don’t make snap decisions oh gee this is happening so I need to change my strategy it’s what’s the longterm what’s the Tipping Point that’s going to you know help my investing over the next seven years 10 years 15 years 20 years th th those are the the time frames that we look in so if you’re a day trader you want to double your money overnight you know we’re not the company for you we’re we’re trying to help educate and and get your retirement headed in the right direction and things like that using precious metals but we also educated on a lot of different investment opportunities the second thing that we love to do is make a special offer for great programs like your Cyrus I mean you know just helping uh people get educated and help them go in the right direction so what we’re going to do for your uh podcast uh is give away $250 credit for anyone who calls and asks for the Special Report uh we’ll put $250 automatically into their account that they can use for shipping Insurance uh setting up their Ira with their Ira fees whatever it is you can use that two $250 uh with your purchase it doesn’t go away so it’ll just stay in the account and whenever you get educated and possi think that precious metals are for you then you can use a 250 or they can use a 250 uh with their purchase that sounds awesome Kevin thanks you so much for again uh coming on the show and and I just love bringing in experts that we can really dissect all of these you know Global trends that are affecting the future of our world obviously we live in a global economy so many things are connected so you know this currency Wars that we’re seeing we’re seeing the dollarization uh The Dumping of US Treasury bonds all of these things are so vital for all of us even if you don’t have an interest in in geopolitics it it does affect your your dollars or your currencies wherever it is and obviously United States China Russia all of these countries are very involved in that so everybody just a final message you know give give the team at leer capital A call the 1800 number is here it’s 1800 489 6450 or you can simply go to Lear cyrus.com Kevin once again thank you so much for your insights and coming on the show and I’ll look forward to bringing you back on sometime in the future because I know we’re going to be keep discussing this and there’s always new trends to be discussing and breaking down for our viewers to understand you bet it’s always a pleasure thanks irus all right thank you [Music]US Financial News
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Comments (49)
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So pretty soon we can purchase the us dollar as Walmart's great value tissue paper
We thank God the world is now safe
Actually US started war with Iraq because Iraq was about to dump dollar. US uses dollar as a weapon against all those who don't want kiss America's @$$.
As long as U.S. is not falling economically there is no reason to have worries.! China is afraid of U.S. sanctions, just in case they would attack Taiwan.! This is not backing a currency but investing in untraceable gold.! Sanction proof currency
Very Informative Very!
WHEN U CHEAT COUNTRIES AND YOUR CITIZENS, THEY MOVE IN A DIFFERENT DIRECTION. 😂😂😂😂
You won't be able to buy sell or trade unless you take the mark and worship the best.
Alchemy can create gold for $5k oz, so upside only 2x. Who cares.
what country has the most gold today? we are being play creating a currency base in gold will make those countries with the most gold the richest.
Brics 2030
I wouldn't worry too much about it. BRICS acts on concensus, and we know India and China rarely agree on anything. Add more and more countries, and you get a powerless entity. Right UN?
This is great news for 'the rest'!
Other countries do hard labor work, exploit their resources, pollute their air, water and land..in return US gives us endless supply of printing paper😂😂
Why did he not talk about the spending related to Israeli war ?
China not dumping money, they are dumping banks in Europe
They are taking their money out of Europe and out of their grubby hands, so they don’t steal it. This is what your not seeing
Lol, they're currently desecrating a thousand soldiers a day with video game drones…. also, China is defaulting on everything… I don't think there's much too worry about.
Brick countries are hemorrhaging millions of dollars a day… and are desperate.
you don't get it. You can have BRICS pro max, but if you want to sell goods or travel in the ocean, you need to have a $$$! not euro, not yen $
I really think it is time that we start thinking about patriotism, and how we can face our adversaries who would attack our dollar when these dollars helped to build their cities. We must innovate and be loyal to where we live. If you think that we have not been in a suttle war… then you are wrong.
The saudis did now renew the oil deal, so gas went up 50 cents overnight.
I dont think that people really understand what this could mean. All of your usd backed holdings have the potential to lose dynamic value. Foreign interests have already started dumping our bonds. If your hundred dollars turns into a dollar overnight… youre fucked.
The advantages of gold miners over raw gold:
1) dividend income (over 4% from stock SGDJ), with the security of underlying gold,
2) the ability to own gold with mines offers the advantage of being able to travel in times of need without having to bring it, store it or transport it,
3) serving government clients to protect against inflation, economic and political instability.
Ancient Rome was 10x the power of Uncle Sam. For 700 years they Ruled and Taxed 50% of the known world without a single Challenge. It took Roman Despots to destroy it.
Despots have 100% taken Capitol Hill and a very long time ago.
Future is brics
So why the nypost 2023 article that the IRS spent millions for ammunition side arms and other combat gear because an armed society is a polite society.
THE U-S-D D-O-L-L-A-R VALUE IS SO C-O-R-R-U-P-T!!!!
(OH ANOTHER ECONOMIC G-A-N-G-S-T-E-R ON THIS VIDEO!!!!)
the fundamental problem is US is losing the knowledge and ability to produce products that people want to buy while China is gaining more knowledge and skills for how make a lot of various things that includes industrial goods, and knowledge for improving their products better and more competitive like electric cars, high speed trains, building technologies, knowledge for processing rare earth materials, ….(as you know, knowledge is money and power, then prestige) , naturally, people and money will attract to whoever produces value to the society (like US once was). I wouldn't be surprised China would become #1 country in the world someday, unfortunately! they have achieved number of fundamental factors to get there.
USA will receive back, all the trillions they printed and dumped to the world
I can't belive Europe and the US are breaking their own international laws and stealing russias money. Bad move
BRICS is just another euro. Ask European how did that turn out for them. Gold can not be a world reserve. So let say it is, a small country dont have as much gold so how is trade handles?
I do not believe that BRICS can ever replace the USD, maybe Euros yes but not BRICS, not Yuan. I have no plans of divesting my USD denominated investments anytime soon, not this year, not next year.
Divine Justice????? Spiritual War: Good vs EVIL????? Physical War: BRICS vs BLACKROCK????? Perhaps Both?????
So student loan debt gets mentioned but corporate subsidies do not??
The CIA will find a way to wreck it
Horse feathers! China is on a collapse trajectory.. this isnt an opinion its a statistical fact, Also its hard to take serious someone talking about the importance of gold while simultaneously being in the business of selling gold. FACT is that if the USA felt threatened enough nationalism would ensue and the world would simply collapse. USA represents more purchasing power than the following 8 nations combined.
Is buying silver worth it???
These are all problems the rich are worried about, an addiction to material things causes all this histeria. When people are already in poverty we are not really affected to much more. Cant lose money in foreign trade or stocks if you dont have any. Its funny how many people live in a totally false reality. The closer people get to nature the more independent they are. None of the last several years have affected me, i grow food for myself as good as the highest price organic market produce for almost nothing but my time. Im going to eat good and continue all my normal activities with or without extra money. It must be awful to be completely dependent on so many other people who dont have your best interest in mind. I feel sad for anyone struggling right now
That graph on China's cross-border payment and receipt currencies is likely to be similar for other countries in the global south as BRICS, BRI and other FTAs are gathering steam. Likewise, there will be a shift of reserve currencies away from USD dominance. The militarization of USD has triggered the de-dollarization and the trend will accelerate.
Wednesday, February 2, 2011:(Angelo Funeral, Presentation in Temple) Jesus said: “My people, I have warned you that your dollar currency is about to collapse because of your deficit budgets, and out of control borrowing and printing of money with no backing. Most Americans have a hard time believing that your currency could collapse. You need to understand the meaning of the dollar as the world’s ‘reserve currency’ in buying oil. Once your debts are so large, countries that you buy goods from will avoid dollars or charge you more dollars for the same goods. Once you no longer have a ‘reserve currency’ the value of the dollar will deteriorate and you will have hyperinflation as many nations have had, as in Germany in World War II. This will precipitate in riots in the street with people searching for food to survive. When you see the collapse of the dollar, martial law will result which will then see America become part of the North American Union. As you see the dollar begin its collapse, this will be the best time to leave for My refuges before the riots and martial law begin. This collapse is not far off, so have your backpacks and necessities ready to leave for My refuges. Call on My help and have no fear since I will have My angels protect you on your way to My refuges and at My refuges. Trust in Me more than your money, gold, or your possessions, since they will not save you.”
Student debt was a scam . If you can bail out the banks then I am with forgiveness of bailing out student loans. It is the wars that wont't end that I have a problem with.
One factor I noticed when it comes to currencies is that if it's accepted and agreed upon, then it has value! Thanks to Brenton Woods, the U.S. Dollar became the most accepted currency in the world. The U.S. was able to take the dollar off the gold standard and still remain the most used currency due to its link to oil and other factors. However, an organization that's originally founded as R.I.C. (Russia India China) grew as B.R.I.C. when Brazil joined and then became known as B.R.I.C.S. once South Africa joined. I suspect that if all member nations agree to accepting this new currency as an accredited currency similar to the U.S. Dollar, then the new currency will ultimately replace the dollar.
Well it's time for the BRICS- New World Order to come up with a default reserve currency or simply go back to gold as the reserve. It will be too chaotic for each country to trade in their respective currencies with the daily change in exchange rates.
Hopefully soon, and not just a 'payment system'. We need a new currency, not just a payment system as SWIFT alternative.
Dear BRICS+ members, let us remember 1 thing and act on this with speed to end dependence of the USD and the imperialist posture and illegal sanctions that are imposed by the US. 1) that the US dollar is nothing but a piece of paper with a picture and figure on it without any value or asset to back it (a fiat currency). 2) that value attached to the US dollar is created by resources, products and services that are produced in individual countries independent of the USA, for example, Oil from the OPEC. 3) that the illegal sanctions imposed by the US inhibit a countries ability to buy and sell its goods and services at the international level only. 4) that assets / reserves belonging to individual countries are maintained in US dollars, and this is a huge risk (refer to the seizure of Venezuelan Gold stolen by the UK, the 300 billion dollars of Russia stolen by the EU and US and the 7 Billion dollars belonging to the Afghanistan people stolen by the USA). When you consider the above, you would notice that it is very easy to evade sanctions, theft of foreign reserves and eliminate on dollar dependence once and for all if we all did one thing, and that is create an alternative trading currency, medium and platform amongst BRICS and other interested nations of the world (after all, the highest population, about 87% of the world lives in the Global South. The resources, products and services traded internationally do not come from the west, rather, these are are extracted, refined and produced within the Global South, and largely traded within the region, and end up int the western world. The west has little to offer except this currency that has no value attached. But instead, we get bullied, punched and tossed around as if we are dependent on the west for our survival or prosperity. 21st Century should no longer be a period which must allow this to continue any longer. We call for the BRICS+ to gather around intelligent minds of economists, Business Leaders, Social Scientists, Engineers and Political Scientists, mainly, an international task force and pursue this dream further. WE ARE TOO MATURED TO BE BULLIED BY THE USA AND ITS WESTERN CLOWNS IN THE EU.
India de – dollarization is real in 3 years they got rid of 641,354,000,000. Now they only have 646 million as reserves currency.
More and more countries are now moving away from the dollar as a currency for reserves, transactions.
Badly harming one's own cause. America continues to shoot itself in the foot. You can't bully everyone all the time, you can fool some people sometimes but not all the time.
Weaponize the dollar, cut off access to and punish certain countries. They thought they can sanction nations without consequences and people are smart enough to come up with some kind of solutions and this is one of those solutions
Now Americans will taste inflation and what "print money now, worry later" actually means.
If I were Saudis why not just use your own currency