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I dont’ know who this guy is BUT he seems to be tuned in and connected to the Global Financial System .
I believe this is a must read piece . It blows the doors off of what the BRICS Currency really is .
This is the first time i have heard it explained properly…It can get a little difficult to follow but apparently
The BRICS Bank will not be issueing a Gold backed Currency ( he explains why) and indeed will not be issuing a New Currency at all.
And the big Bummer is…and we have been lead down the garden path on this…The Brics Bank is headed by a graduate of the Young Global Leaders ( Yes…a fucking WEF protege )
This guy explains how the System really works and also explains a new concept ( to us ) called Quantitative Boosting.
This is a “Tool” used by China and soon to be utilized by more countries that ( if I am reading this right) can keep this fiat game going longer than we all will likely live .
Every Goldbug will tell you …because our clan all ferverently believe … as a foundational concept of our Cult …that the World financial system is on its last legs and any day now it will implode because of the Quadrilions of debt private and soveriegn …and derivitives ( whatever all of that really is)
Personally I have bought into this core belief for at least 30 years now…Any Day The Financial system will “Implode” of it’s own weight and Gold will be King…Still watching and waiting .
Anyhow…This Guy as I say seems more tuned in to what is really happening …and it seems the Monetary Wizards work in mysterious ways
It seems “They” have it all under control …and yes they can just print ‘More” and that WILL Boost the Economies and we WILL continue with the present Fiat Regime…because…The system produces “Money” that everyone in the world is still willing to accept
The Boom Guy has a proposal for the central banks and IMF that if they impliment will ensure Global Growth ….Multi Polar Global Growth because the Dollar Reserve will be replaced by a system that allows each country to sette in local currencies..Instantaneously
Some shocking Information in thise Piece
Example 1…Russia’s Wheat Exports are at all time Highs right now.
Example 2..Russia still sells Oil to some European Nations
Example 3…Russia’s Unemployment Level is all time low 3.2%
The biggest Bummer from this piece is that no BRICS Currency per se will be created
The Biggest BANG from this piece is that CBDCs will NOT be needed ( they may be used but not in any way exclusively) ….AND…Cash is a very important and irreplacible part of the Global Financial System. The implication is “THEY” are not able to and do not want to stop Physical Cash..In fact they need to issue more
………
PS…I have never understood the rationale for the belief most in our community have that “THEY” will Crash the system to make us all serfs and then will then control us in every way. One day we will wake up and all our money will be worthless !
First and foremost of all… Who would be hurt the most by crashing the “System ?”
Whoever owns the biggest pieces of the “Pie” thats who . It’s THEIR SYSTEM
Why would “THEY” crash their own system …? They won’t so of course they will try whatever they can to control us…and we will do whatever it takes to thwart them and maintain at least a tolerable level of freedom…it’s the eternal game
sheesh
PPS. Sometimes we need to listen to an “Outsider” …someone who is NOT reall part of our community..to know how the Global Financial System really works. It’s complex and there really are monetary Wizards who ‘RUN” the system .
I have never heard about the Brics Bank’s Mission . Guys like Luongo and Armstrong who are brilliant analysts have never explained it like this…because even they didn’t understand it all
There is an incentive for foreign nations (especially on the periphery) to dethrone the $, if domestic politics doesn’t do the job first. Which it very well may.
There probably is no PLAN to crash the system, because it would be nearly impossible for those with ideas to do so, to sidestep the financial cascade they cause. They have their surprises. But that doesn’t mean it won’t happen on its own, thanks to human nature and mean reversion. Or some external event that exposes the house of cards. Any major revival of energy costs would likely drive up inflation expectations and rates. Most EWers believe long term rates HAVE bottomed (after a 40 year bull in price) and yields will now ratchet higher (with higher lows from here) to compensate for that, absent a low cost alternative. (Tough for mobility applications given grid limitations, lithium limits, disposal costs, and more.)
And yes of course, they might TRY to grow “money” = credit = debt. But rising standards of living requires growing Capital, which is not the same thing. Politicians and bankers haven’t figured that out yet, obviously. Especially not on the Dem/Liberal/Progrssive side of the aisle.
So, “Why would they crash their own system since they own it?”. Well, why would they try to kill everyone with a fake vaccine? This destroys their own customers.
If this piece is true, it still means that inflation continues higher and everything costs more and more and salaries in general don’t keep up which means a lower standard of living forever.
Also, I don’t see any explanation in the article as to why all the BRICS participants are accumulating gold. Why has China been accumulating vast amounts of gold over the past 20 years if it has no use for it. My guess is that all fiat under this system buys less and less and gold will still retain its value in all currencies.
These three comments above are on target. I have never believed that there is some evil plan to crash the system. The system is going to crash regardless. As I posted just the other day, it doesn’t matter if the BRICS create a new currency or not. They are already implementing the seeds for the dollars collapse, ie the system, by accumulating gold and using it as backing not necessarily for a new currency, but to facilitate trade between it’s members using their own currencies via swaps backed by their gold holdings, essentially not using dollars anymore. The reason the system is going to collapse soon, as oppossed to the last thirty years of warnings, is something I have tried to explain before. The RULES have changed. BASEL III was implemented a number of years back but the deadline for implementing it was year end 2022. Gold is being put back in the role it held before Bretton Woods. It is a process not a single event. However, the final aspect is when the COMEX and LBMA run out of physical silver, because of the exchange for physical that was also a change in the last couple of years. That means the 3 Quadrillion in derivatives blow up. End of banks, end of the fiat system. Anyone at this site who has been stacking gold and or silver should survive. It won’t be pretty and no one knows how it will all play out but other than fostering interesting discussions, these gurus and experts aren’t worth wasting time worrying about all the what if’s.
Well said.
Good discussion guys
The one revelation here is that Each Country will be able to pay in their own currency as opposed to the US Dollar hegemony and thus the US Currency will be no more significant in workd trade than the Tai Bhat etc. This is what is meant by Multi Polar