Gregory Mannarino offers insight into the future of the financial markets, highlighting the imminent depletion of cash within the system.
APMEX reports that in 2023, Russia announced the creation of a new currency by BRICS, which was initially denied by several other nations and their representatives, leading to a speculative environment. During an interview, Sergei Glazyev, a well-known Russian economist, confirmed the development of a BRICS currency, which was nearing completion, marking the first official acknowledgment of its existence rather than just a theoretical idea. Although reports indicated that the payment system would be blockchain-based, the actual composition of the currency remained a mystery, with speculations about it being backed by gold. Glazyev hinted that the new currency would be supported by “a basket of exchange-traded commodities,” suggesting a diverse foundation for its value, possibly including gold due to the increased gold purchases by BRICS nations.
Steven Van Metre sheds light on the recent revelation made by Vanguard, emphasizing the urgency for every investor to take immediate action.
The recently unveiled budget proposal by President Biden has become a topic of discussion on RJ Talks. In his proposal, Biden is seeking a substantial $5 trillion increase in tax revenue from Congress, which includes a notable hike in the capital gains tax rate from 20% to 44.6%.
Michael Cowan discusses the prohibition of all cash withdrawals by May 20th.
In his show’s 959th episode, Peter Schiff discusses the topic of the Dovish Fed Rescues Markets.
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Gregory Mannarino
May 5, 2024
MARKETS A LOOK AHEAD: The System Is Running Out Of Cash…
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When Russia first stated in 2023 that BRICS would create a new currency, multiple other nations and their representatives denied it, creating an atmosphere of speculation. Sergei Glazyev, a prominent Russian economist, joined an interview where he made it clear a BRICS currency is in development and almost complete. This information slowly trickled out to western media and was the first known confirmation that a BRICS Currency is in development, not a theoretical concept. While the payment system is said to be blockchain based, the currency itself is still a mystery. We don’t know for sure if it will be backed by gold, but it is implied. Glazyev states that one thing this new currency will be based on is “a basket of exchange-traded commodities.” This statement, along with BRICS nations buying gold at an exceptional rate, makes us believe gold could be included in that basket.
While we know more than we knew a year ago, we still know very little about the actual currency. Again, there is no official launch date set, but speculation abounds that a common currency with final approval would be introduced to the world and named during the next BRICS Summit in Kazan, Russia between October 22-24th. We will follow any updates closely and be ready to pass the information on to you.
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Steven Van Metre
May 5, 2024
Vanguard Drops Bombshell: Every Investor Needs To Do This Now (It’s Urgent)
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RJ Talks
May 5, 2024
Biden’s 2025 budget proposal has been released and he is asking congress for $5 trillion in tax hikes, including raising the capital gains tax from 20% to 44.6%.
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Michael Cowan
May 5, 2024
All Cash Withdrawals Banned By May 20th!
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Peter Schiff
Streamed live May 5, 2024
Dovish Fed Rescues Markets – Ep 959
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