The Biggest Monetary Shock in 52 Years is Coming
On June 29, 2023
By Awake-In-3D
The BRICS+ countries are on the verge of announcing a new currency linked to gold, which could trigger a global currency reset and mark the end of the US dollar’s reign as the exclusive global reserve currency. This move is expected to have far-reaching consequences for the international financial system, causing shockwaves that the world is unprepared for.
With gold prices being manipulated and the potential volatility of a gold-backed currency, questions arise about the stability and viability of such a system. However, the BRICS+ currency’s value will be determined by the price of gold, and China and Russia are likely to play a pivotal role in influencing the dollar price of gold to increase the value of their currency and undermine the US dollar. The implications for investors and the long-term impact on exchange rates and capital markets remain uncertain.
I am summarizing a recent article written by Jim Rickards. He is an American lawyer, economist, and investment banker with 40 years of experience working in capital markets on Wall Street.
The article discusses the upcoming announcement of a new currency by the BRICS+ countries, which could have significant implications for the global financial system and the US dollar. The new currency is likely to be linked to gold, leveraging the gold reserves of BRICS members Russia and China. This move could potentially lead to a global currency reset, with the end of the US dollar as the exclusive global reserve currency and the rise of a gold-backed monetary system.
The article argues that the dollar’s strength should be measured in gold, as gold is not a central bank currency. The author highlights the m----------n of gold prices in the paper gold market, emphasizing the need for a fixed price for gold in a gold-backed currency. The potential volatility of gold as a currency is discussed, along with the US government’s possible motivation to sabotage a rival currency bloc.
The article concludes that the value of the new BRICS+ currency will be determined by the price of gold, with China and Russia likely to influence the dollar price of gold to increase the value of their currency and undermine the US dollar.
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Key Points from the Article:
- The BRICS+ countries are set to announce the creation of a new currency linked to gold.
- Russia and China, the two largest gold producers in the world, have significant gold reserves.
- Gold prices are subject to m----------n, supported by statistical evidence and expert testimony.
- The author suggests that a gold-backed currency would require a fixed price for gold to ensure stability.
- The BRICS+ currency will be valued in units of gold by weight, with a fixed value in gold.
- The value of the new currency will fluctuate based on the dollar price of gold.
- China and Russia are expected to have significant influence over the dollar price of gold and the value of the new currency.
- The collapse of the dollar, measured in gold or the BRICS currency, could lead to inflation and a loss of purchasing power.
Original article link: https://dailyreckoning.com/the-biggest-monetary-shock-in-52-years/
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