BRICS say bye bye $ hello gold.... In that must-listen interview, my friend Andy Schectman told me: “When you look at countries that have expressed interest in joining BRICS, they all have substantial gold holdings. The numbers are increasing among those who want to join, there’s over 60 countries they have lined up in a queue [to join BRICS].”
The next thing I’ll be looking for will be cooperation from the Saudi’s who, because of their dominance in oil markets, can help affect the change necessary to grow this new currency.
Andy continued, telling me back in May:
“I do believe it’ll be a Sunday night. OPEC, the BRICS nations, Saudi Arabia - they come out and say on a Sunday night, we’re taking other currency for oil - and everything blows up Monday morning. It’s a tsunami of dollars,” Andy concluded. “The pieces are being put into place right now. Nobody is going to have time to react.”
“Why the hell would Central Banks be buying more gold now than ever? They’re frontrunning. They don’t care about the technicals, they’re using the Western suppression of gold prices to de-dollarize. What does that look like when the world completely sheds dollars because they no longer need them to buy oil?”
Lest we forget, simple, common sense.
I’ve argued for de-dollarization not because I’m unpatriotic or I want bad things to happen to the U.S. — just the opposite. Simply because the case becomes common sense when examining how we have abused the dollar’s reserve currency status, most recently weaponizing our currency as result of the Russia/Ukraine war.
When a gold backed currency makes its way onto the global trade stage, it’ll be taken seriously because the rest of the world will have the same common sense realization that we already have. And this is why I believe, no matter what skepticism you may hear from dollar bulls, the wheels are already in motion.