US Could Counter BRICS Dedollarization with Gold-Backed Strategy. Could Push Gold to $27,000
Meanwhile Elites and Central Banks are Hoarding Gold to Hedge Against Collapsing Economies.
I stand guilty before all of you for falling into the mob psychology mindset, a phenomenon where individuals conform to the actions and beliefs of a group, often leading to irrational or extreme decisions. In this case, it's the belief that 'BRICS will save us all,' and the US is doomed. I've been guilty of stating that the US goose is cooked, and we're all doomed.
Such a one-sided paradigm is unfortunately prevalent among so-called' gold analysts,' a group of financial experts who often focus on the economic implications of global power shifts. Now, as a critical thinker, I want to explain why the US is not going to just sit back and watch the BRICS roll all over Uncle Sam and dethrone the US dollar without a fight.
So (note to FBI and CIA) please remove Jon Little from your "watchlist" as you read this "fair and balanced" news report.
Let's keep the discussion educational and engaging - LOL
Time for the Sports Analogy
Sports history is filled with incredible comebacks that showcase the power of resilience and determination. Here are five examples from different sports where teams or individuals mounted miraculous comebacks:
NFL: Super Bowl LI (2017)
The New England Patriots, led by quarterback Tom Brady, staged one of the most remarkable comebacks in NFL history. Trailing the Atlanta Falcons 28-3 in the third quarter, the Patriots rallied to tie the game 28-28 in regulation and won 34-28 in overtime. This 25-point comeback is the largest in Super Bowl history and exemplifies the "never give up" attitude that defines great teams.
Baseball: 2004 ALCS
The Boston Red Sox made history by becoming the first team in MLB to win a best-of-seven series after trailing 3-0. Down 0-3 to their arch-rivals, the New York Yankees, the Red Sox won four straight games, including two at Yankee Stadium. This comeback broke the infamous "Curse of the Bambino" and propelled the Red Sox to their first World Series title in 86 years.
Hockey: 1942 Stanley Cup Finals
The Toronto Maple Leafs accomplished what seemed impossible in the 1942 Stanley Cup Finals. After falling behind 3-0 in the series to the Detroit Red Wings, the Maple Leafs won four consecutive games to claim the championship. This remains the only time in NHL history that a team has overcome a 3-0 deficit in the Stanley Cup Finals.
Golf: 1999 Ryder Cup
In what became known as the "Battle of Brookline," the United States Ryder Cup team overcame a 10-6 deficit on the final day to defeat the European team. The Americans won 8.5 out of 12 points in the Sunday singles matches, clinching victory on the 17th green when Justin Leonard sank a 45-foot putt.
Women's Soccer: 2011 FIFA Women's World Cup Quarterfinal
The United States women's national team faced elimination in their quarterfinal match against Brazil. Trailing 2-1 in extra time, Abby Wambach scored a dramatic equalizer in the 122nd minute - the latest goal in Women's World Cup history. The U.S. went on to win the penalty shootout, showcasing incredible mental fortitude and teamwork.
These comebacks demonstrate that in sports, as in life, it's never over until the final whistle blows. They inspire us with tales of perseverance, teamwork, and the indomitable human spirit.
The Sport of Kings
Money, politics, and finance have long been considered "The Sport of Kings" due to their high-stakes nature, complex strategies, and the immense power they wield over societies.
Like thoroughbred racing, these domains require skill, cunning, and often a dash of luck to succeed. The elite who navigate these realms are akin to master jockeys, steering their interests through treacherous economic and political landscapes.A prime example of a nation rebounding against all odds is post-World War II Japan. In 1945, Japan lay in ruins, its cities devastated by bombing, its economy shattered, and its global standing in tatters.
Many believed Japan would never recover from such comprehensive defeat. However, through a combination of American support, economic reforms, and sheer determination, Japan staged a remarkable comeback. By the 1980s, it had become the world's second-largest economy, a technological powerhouse, and a model of rapid industrialization, defying all expectations and reclaiming its position as a global leader.
Gold revaluation to address US debt has been proposed by several financial experts.
Jim Rickards suggests that revaluing gold to $27,000 per ounce could back the M2 money supply, providing stability to the dollar.
Luke Gromen proposes revaluing Treasury gold reserves to $20,000 per ounce, potentially reducing the debt-to-GDP ratio significantly.
Judy Shelton advocates for a return to a gold-backed monetary system to restore fiscal discipline. The concept involves marking up the value of US gold reserves, using this increased value to buy back Treasury debt, and potentially issuing gold-backed Treasuries.
Proponents argue this could help manage the national debt and stabilize the currency without causing immediate inflation
BRICS, UNIT CURRENCY, mBRIDGE
The global financial landscape is undergoing a significant transformation as BRICS nations and other emerging economies seek to reduce their reliance on the US dollar. This shift, often referred to as de-dollarization, is driven by several factors, including the weaponization of the dollar through sanctions, concerns over US debt, and a desire for greater financial autonomy.
The BRICS+ Decentralized Monetary Ecosystem
A major development in this de-dollarization effort is the potential introduction of a new decentralized monetary ecosystem by BRICS+. This system, tentatively called "Unit," aims to create an alternative to the dollar-dominated global financial system.
Key features of the proposed Unit system include:
Decentralized issuance: The currency can be issued in a decentralized manner, with recognition and regulation at the national level.
Gold backing: The intrinsic value of Unit is anchored in physical gold and BRICS+ currencies, providing stability and confidence.
Complementary to existing infrastructure: Unit is designed to work alongside current banking systems, facilitating a smoother transition.
The New Development Bank (NDB) and BRICS+ are expected to play crucial roles in implementing and promoting this new financial infrastructure.
Drivers of De-Dollarization
Several factors are pushing countries, particularly in the Global South, to seek alternatives to the US dollar:
Soaring US national debt: The Congressional Budget Office projects US debt to reach $50.7 trillion by 2034, with a debt-to-GDP ratio of 122%.
Interest costs: Maintaining the debt is becoming increasingly expensive, with interest costs expected to reach $892 billion in 2024.
Geopolitical concerns: The use of dollar dominance as a geopolitical tool, particularly through sanctions, has raised concerns among many nations.
Economic protectionism: Recent US policies, such as tariffs on Chinese electric vehicles, have eroded global faith in the dollar and US Treasury securities.
Global Shift Away from the Dollar
The move away from the US dollar is gaining momentum across the Global South:
BRICS expansion: The group is actively working on establishing a common currency for use within its expanding membership.
Loss of confidence: Many emerging economies are viewing the US less favorably in terms of economic and geopolitical leadership.
Alternative payment systems: Countries are developing and adopting non-dollar payment systems to reduce their exposure to potential US sanctions.
Challenges and Implications
The transition to a new monetary ecosystem is not without challenges:
Implementation hurdles: Coordinating a new financial system across multiple countries with diverse economic structures will be complex.
Resistance from established powers: The US and its allies may attempt to hinder the development of alternative financial systems.
Market volatility: The shift away from the dollar could lead to significant market fluctuations and economic uncertainty in the short term.
However, proponents argue that the long-term benefits of a more balanced and stable global financial system outweigh these challenges.
Technological Innovation and Industrial Development
The de-dollarization effort is not limited to financial systems. BRICS countries are also focusing on technological and industrial development to reduce their dependence on Western-dominated supply chains and technologies.
Russia, for example, has proposed ideas for technological and industrial development through its Agency for Strategic Initiatives (ASI), which will be discussed among BRICS partners.
The potential introduction of the BRICS+ decentralized monetary ecosystem represents a significant challenge to the dollar-dominated global financial order. While the full implementation and impact of this system remain to be seen, it is clear that the global financial landscape is evolving rapidly.
As emerging economies seek greater financial autonomy and protection from dollar weaponization, the coming years may witness a fundamental shift in the structure of international finance. The success of these efforts could lead to a more multipolar economic world, with profound implications for global trade, investment, and geopolitical relations.
1) BRICS+ MBridge “the Unit” currency consists of a basket of 60% sovereign currencies and 40% physical Gold.
2) BRICS+ MBridge began testing in 2022.
3) In 2023 during the BRICS+ meetings, the BRICS+ heads of state gave the go-ahead for MBRidge and “the Unit” to launch by 2025.
4) Hong Kong via the BIS (Bank of International Settlements) overseen by the PBOC (People’s Bank of China) is a major MBridge hub where the BIS is operating out of. Shanghai and Dubai are the other hubs.
5) The current USD Gold price does not provide enough liquidity for MBridge & “the Unit” to fully rollout. (When the Petro Dollar came to be in the 1970s, Oil price had to more than 3X to provide enough liquidity for the USD, as explained by Luke Gromen
6) The West via IMF is launching their own version of MBridge to compete with BRICS+.
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