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De-dollarization Tipping Point
* At their 2023 summit, Brazil, Russia, India, China & South Africa agreed to expand BRICS.
* Argentina, Egypt, Ethiopia, Iran, Saudi Arabia & UAE will join BRICS in the first phase of its expansion (effective January 2024).
* Other phases will follow. Many more nations are interested in joining.
* They include 6 of the world’s top 10 oil producers, comprising 43% of global oil production. R.I.P. petrodollar!
* BRICS+ now effectively surrounds the Persian Gulf; and is consolidating control of global sea lanes.
* As Vladimir Putin stated in his address, de-dollarization is an objective and irreversible process that’s gaining momentum.
Got Bullion?
* A new gold-backed BRICS+ currency will be rolled out in the year ahead.
* That will be a process, not an event; but the announcement will be a shockwave. The infrastructure is now in place.
* The goal is to diversify their “currency risk” i.e. get out from under U.S. petrodollar hegemony and $-based economic sanctions.
* Do you get the feeling that a fiat currency crack-up — and precious metals lift-off — is finally here?
* For insight and guidance, I recommend following Alasdair Macleod and Jim Rickards.
The full webcast is linked below.
GoldSilver | Will We See A BRICS Currency? Rick Rule & Mike Maloney On Gold & Silver (31 August 2023)
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Iran’s Strait of Hormuz closure threatens global energy markets, Russia’s war funds and China’s oil supply
Why I’m Stockpiling Fertilizer Now for Food Resilience
The Strait of Hormuz Isn’t Open Until Iran Says It’s Open
A record $93 billion surge: Watchdog exposes Pentagon’s fiscal year-end spending spree
Petrodollar Apocalypse: How the greenback’s death spiral will trigger WWIII
