Announcement of BRICS Currency To Challenge The US Dollar

**fudd** · 06.24.22, 08:18 PM

Originally Posted by NDL

It's a combined effort between Brazil, Russia, India, China, and South Africa; this is nothing to sneeze at.

Brazil's economy is the tenth largest in the world; Russia is the 11th largest; India is the world's fifth largest economy, and China arguably might be a challenge to the US in itself.

A BRICS currency could easily challenge the dollar.

I doubt it will in my lifetime. I have a shitload of gold and silver bullion so I’m good as are the kids.

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**seenbad** · 06.24.22, 08:20 PM

Originally Posted by fudd

I doubt it will in my lifetime. I have a shitload of gold and silver bullion so I’m good as are the kids.

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I doubt it WON'T by this time next year!

Something tells me though, as somebody who has so much bullion, that you might be more hopeful than confident in that assertation?

**edwardv** · 06.24.22, 08:23 PM

Originally Posted by fudd

I doubt it will in my lifetime. I have a shitload of gold and silver bullion so I’m good as are the kids.

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Do they take silver and gold at Home Depot ?

**fudd** · 06.25.22, 05:41 AM

Originally Posted by edwardv

Do they take silver and gold at Home Depot ?

No. But they take a company card.

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**fudd** · 06.25.22, 05:42 AM

Originally Posted by seenbad

I doubt it WON'T by this time next year!

Something tells me though, as somebody who has so much bullion, that you might be more hopeful than confident in that assertation?

I just don’t worry about shit like this. If it happens , it happens. If it doesn’t, it doesn’t.

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**edwardv** · 06.25.22, 06:53 AM

Originally Posted by fudd

No. But they take a company card.

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Powered by crypto? I do worry about the dollar going flip flop. But all I can do is pray. If suddenly in the middle of the night Berkshire Hathaway starts buying all the gold they can then it's going to happen. Until then it's USD.

**NDL** · 07.05.22, 11:29 AM

http://www.chinaview.cn/asiapacific/...1682493/c.html

**NDL** · 07.05.22, 11:30 AM

https://www.reuters.com/article/us-i...-idAFKBN2O81WG

**NDL** · 07.14.22, 04:38 PM

It looks like Saudi Arabia is set to join BRICS, and if the Saudi's dump the petro dollar in favor of a BRICS backed currency, the dollar will implode:

https://focuswashington.com/2022/07/...to-join-brics/

**edwardv** · 07.14.22, 05:41 PM

Don't worry Joe's over there now and he will get it all straightened out just like Michael Corleone did when he went to Vegas to buy out Moe Green.

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**NDL** · 08.03.22, 02:05 PM

"Member states of the BRICS association (Brazil, Russia, India, China and South Africa) contribute significantly to the search of collective responses to multiple present-day challenges and threats and play an important role in the formation of the positive and future-oriented global agenda..."

https://www.daily-sun.com/post/63574...hreats:-Lavrov

"Is the dominance of the US dollar as the world’s reserve currency being eroded?"

https://www.euronews.com/next/2022/0...tion-under-thr

**NDL** · 12.08.22, 10:29 PM

China boosts gold reserves for the first time in over 3 years in possible attempt to diversify away from dollar

New government data revealed that the People's Bank of China boosted its gold reserves for the first time in over three years, potentially signaling Beijing's attempt to diversify away from the US dollar.

China increased its gold holdings by 32 tons in November compared to the prior month. In total, the People's Bank of China holds 1,980 tons, the sixth-biggest central bank holding worldwide, according to Bloomberg.

During the third quarter, unknown buyers snapped up huge amounts of gold in the metals market, and only some of those purchases were made public. Onlookers had speculated that it could be China or Russia adding gold to their coffers, and now it appears some of the guesses were correct.

https://www.businessinsider.com/doll...g-pboc-2022-12

**edwardv** · 12.09.22, 04:37 AM

How much has the purchasing power of a dollar decreased?

Since 1933, the U.S. dollar has lost 92 percent of its domestic purchasing power. Even at its “moderate” 1994 inflation rate of 2.7 percent, the dollar will lose another half of its purchasing power by 2022.Nov 30, 2022

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**NDL** · 12.09.22, 07:50 AM

Originally Posted by edwardv

How much has the purchasing power of a dollar decreased?

Since 1933, the U.S. dollar has lost 92 percent of its domestic purchasing power. Even at its “moderate” 1994 inflation rate of 2.7 percent, the dollar will lose another half of its purchasing power by 2022.Nov 30, 2022

Wow.

**fudd** · 12.09.22, 07:54 AM

Originally Posted by NDL

China boosts gold reserves for the first time in over 3 years in possible attempt to diversify away from dollar

New government data revealed that the People's Bank of China boosted its gold reserves for the first time in over three years, potentially signaling Beijing's attempt to diversify away from the US dollar.

China increased its gold holdings by 32 tons in November compared to the prior month. In total, the People's Bank of China holds 1,980 tons, the sixth-biggest central bank holding worldwide, according to Bloomberg.

During the third quarter, unknown buyers snapped up huge amounts of gold in the metals market, and only some of those purchases were made public. Onlookers had speculated that it could be China or Russia adding gold to their coffers, and now it appears some of the guesses were correct.

https://www.businessinsider.com/doll...g-pboc-2022-12

Pretty sure the US still holds the most gold.

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