Thanks Jim for your unique insight - more countries are looking for a currency alternative to the USD for trade & commerce while they are happy to let the USD remain the Global Reserve Currency! These countries don't want to do the heavy lifting that comes with being the Global Reserve Currency.
So they will keep dollars as transaction currency and use that to exchange gold and then will keep Brick money (Bancor) as reserve currency among them?
He didn’t mention what happens when the rest of the world stops buying US treasuries and $8 Trillion dollars that has to end up on somebody’s balance sheet ends up on ours.we buy our debt. The dxy goes to 70 from 104ish now?! If A=B=C and A(1 BRIC)=B(1 ounce gold) and C($) goes to 70, then where in the H E double hockey sticks is gold?! And if gold 🚀 then the BRIC 🚀
I bought into the dire predictions that the dollar's fall as the world's reserve currency would occur soon and quickly. This demise of the dollar's preeminence can be viewed through two optics: that of a campaign to sell one's books and newsletter, and that of a real world scenario. It is starting to become apparent to me that I have been overly concerned.
Follow Brent Johnson. I agree with him and Jeff Snider. There is no alternative to the dollar. If the world economy collapses, there will be a massive rush to the dollar. Look at Europe, there is a mad dash for the dollar. Can't escape it. I don't care what Brics says, you sell your national treasure to China for Yuan, the absolute first thing you will do is convert that to dollars. Nobody, and I mean nobody, in the world wants to hold Chinese Yuan, Rupee, Rubble, etc. They all need dollars. For now. It will change someday, but not for a long long time.
Whatever you do, don't rush out and buy Jim's latest book "The New New Case for Gold". It's as wrong as his other book on the subject! Bitcoin fixes Jim, and his ilk.
Bitcoin doesnt fix Jim, You or anyone else because no country will use bitcoin as a national currency. Bitcoin is a crypto and no one knows who the owner or the real investor of it is. Who is Nakamoto? Where is he abd how does he look like? Central banks need to have total control over finances so tell us why and how will all the countries give up their current currencies and make bitcoin their national medium of exchange? How on earth would EU, Brics or anyone else use some poxy cryptocurrency instead of their own electronic banknotes with the expiry date that can control the society?
Brilliant information and analysis. Thanks you Jim.
Jim says more in 28 minutes than most say in a lifetime.
Excellent stuff. Good analysis. Always love Dubai
Excellent comprehension of our world
JAMES RICKARDS IS MY NR 1 MENTOR
GOD BLESS YOU JAMES RICKARDS
BRICS + OPEC = A better Financial alternative for Global South countries. This will allow member countries to boost development & domestic growth.
Thanks Jim for your unique insight - more countries are looking for a currency alternative to the USD for trade & commerce while they are happy to let the USD remain the Global Reserve Currency! These countries don't want to do the heavy lifting that comes with being the Global Reserve Currency.
So they will keep dollars as transaction currency and use that to exchange gold and then will keep Brick money (Bancor) as reserve currency among them?
He didn’t mention what happens when the rest of the world stops buying US treasuries and $8 Trillion dollars that has to end up on somebody’s balance sheet ends up on ours.we buy our debt. The dxy goes to 70 from 104ish now?! If A=B=C and A(1 BRIC)=B(1 ounce gold) and C($) goes to 70, then where in the H E double hockey sticks is gold?! And if gold 🚀 then the BRIC 🚀
You damn right!! I’m feeling what you’re putting down.
Excellent
Brilliant!!
The Smartest man in every room.
Cameraman on strike?
How will Brics countries manage to trade with non-Brics members if their currency is so strong?
wouldn't they just convert their currency to dollars?
Argentina in the BRICS??? Last I heard, that was a hard NO.
yeh the americans installed a crazy man in Argentina,so someone uses the dollar
Our present leadership is beyond stupid. Tragic.
"Dubious Dubai..."
I bought into the dire predictions that the dollar's fall as the world's reserve currency would occur soon and quickly. This demise of the dollar's preeminence can be viewed through two optics: that of a campaign to sell one's books and newsletter, and that of a real world scenario. It is starting to become apparent to me that I have been overly concerned.
Follow Brent Johnson. I agree with him and Jeff Snider. There is no alternative to the dollar. If the world economy collapses, there will be a massive rush to the dollar. Look at Europe, there is a mad dash for the dollar. Can't escape it. I don't care what Brics says, you sell your national treasure to China for Yuan, the absolute first thing you will do is convert that to dollars. Nobody, and I mean nobody, in the world wants to hold Chinese Yuan, Rupee, Rubble, etc. They all need dollars. For now. It will change someday, but not for a long long time.
Yep, and there will be no inflation. Because of the push pull mechanism.
This will be a non starter
Unfortunately this guys been wrong on money and gold for 10 years
Yep
Everyone lost 25% of their savings the last two years. You figure
Whatever you do, don't rush out and buy Jim's latest book "The New New Case for Gold". It's as wrong as his other book on the subject!
Bitcoin fixes Jim, and his ilk.
BITCOIN IS DIGITAL
GOLD IS IN YOUR HAND
YOU DON'T PAY THE RETAIL OR A DOCTOR WITH BITCOIN
Bitcoin doesnt fix Jim, You or anyone else because no country will use bitcoin as a national currency. Bitcoin is a crypto and no one knows who the owner or the real investor of it is. Who is Nakamoto? Where is he abd how does he look like? Central banks need to have total control over finances so tell us why and how will all the countries give up their current currencies and make bitcoin their national medium of exchange? How on earth would EU, Brics or anyone else use some poxy cryptocurrency instead of their own electronic banknotes with the expiry date that can control the society?