by Greg Boulden, America Outloud:
A perfect storm is brewing outside our country’s borders, and the media and fellow Americans are largely ignoring the growing threat. BRICS is the term for the united front of Brazil, Russia, India, China, and South Africa. These countries are now aligning and planning to weaken the dollar and the American economy.
There is a rapid shift in allies. Last week, Russian President Putin and China’s President Xi made a historic proposal by agreeing to an alliance to upend 100 years of world order. Putin supported moving to the Yuan as a stable currency in the future. The dollar has served as the world’s reserve currency for almost 100 years.
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BRICS is now working to add other nations such as Algeria, Argentina, Bangladesh, Belarus, Egypt, Indonesia, Iran, Mexico, Pakistan, Saudi Arabia, Sudan, Syria, Turkey, Venezuela, and Zimbabwe. Goldman Sachs had predicted that BRICS would dominate world economics by 2050. They never imagined that an alliance against the dollar would form sooner. Saudia Arabia gave in to Russian pressure this week and cut oil production to further the squeeze.
Interest rates will likely continue to grow here in America, and the Treasury yield will weaken further. Hear about this and more on today’s show.
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