Brics meeting coming in Aug The Brics are having their meeting in aug . Starting aug 22 There is lots of speculation that Saudi's will become a full member apparently 42 countries have been invited or requested an invitation not sure if all 42 will be invited but the fact that 42 countries are interested in joining or exploring joining the new Brics alliance to avoid G7 sanctions and outright siesures of their properties should be alarming to all
The USA and Canada will most definitely lose their petro dollar status from this and the USA being the dominant reserve currency in the world could be deminshed over time to just a fraction of its reserve currency status only holding this status in the G7 and even then having to share in some cases with the Brics .With Brazil Russia India China South Africa and Saudi Arabia most likely becoming a member this represents a large portion of the worlds population plus the other 35 countries that are showing interest in joining .This is a huge shift that is happening right before our eyes in real time .This will have huge impact on the world especially if they tye their eventual new currency that will come out for trade settlements to gold or a basket of commodities. Even if one ounce of gold represented 10% of the new currency this would devalue the USA$ or if the Americans choose to prop up th $ it would send gold higher either way this could be very positive for holders of gold and gold shares
These are my thoughts and you should all do your own DD