BRICS has made an announcement concerning their work to de-dollarize the world, a goal that they are getting closer and closer to by the day. This, of course, would be extremely bad for the United States, further devaluing our currency and as a result increasing the cost of living. In case you haven’t noticed, things are already astronomically expensive, so the last thing we need is for the price of basic goods and services to increase further. Should that happen, the middle-class is likely to cease to exist, leaving only elitists upper class individuals and the extremely poor. And when that occurs, there will be a lifting up of the one and a persecution of the other.
According to a report from Watcher.Guru:
The collective has not been shy about its stance against the currency. Since 2022, the group has contested Western sanctions on Russia following the invasion of Ukraine. That led to a massive initiative to promote local currencies and even develop a BRICS native payment system. Those goals took a massive step forward this week. The past several years have been hugely important for BRICS. The grouping welcomed expansion for the first time since 2001. Moreover, they have targeted increased economic cooperation. All in an effort to shift global finance, and create a multipolar world.
The bloc’s goals reached a milestone this week. Indeed, the BRICS bloc made a massive de-dollarization announcement. Specifically, Russian Foreign Minister, Sergey Lavrov announced that more than 90% of trade between Russia and China is settled in their native currencies. “Russia-Chinese trade and economic cooperation are actively developing, despite persistent attempts of the state of the collective West to put a spoke in the wheels,” Lavrov said. Moreover, he noted that almost all trade is settled outside of the US dollar. Now, the bloc is looking to expand that kind of production to its other members.
The collective now features nine nations altogether. After its 2023 Summit, Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE) have joined the bloc. The grouping has already proven successful in its de-dollarization thus far. Since 2002, US dollar reserve have fallen 14% amid BRICS rise.
The Atlantic Council’s Dollar Dominance Monitor has stated that the dollar’s global reserve share has been steadily declining. Just 10 years ago the figure was north of 72 percent. Then it dropped to 58 percent just this year. What led to such a significant decrease? The actions taken against the dollar by BRICS, coupled with major concern about the health of the US economy.
Folks, if you haven’t already considered investing in precious metals, now might be a good time to do some research. It’s not always a path right for everyone, but the bottom line is we need to be prepared for worst case scenarios, such as the collapse of our economy.
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