The Majority of the World Witnesses That the G7 is Naked. Gold Overtakes Euro in Global International Reserves
BRICS Nations Unite Against US Dollar Dominance. Gold Price will be revalued to $20,000 or higher
THE EMPEROR HAS NO CLOTHES
Nothing is backing the US Dollar meaning The US dollar is Naked.
Summary of mBridge / Unit 40% Gold backed currency
The Global Currency Revaluation (reset) is approaching quickly. BRICS ++ are set to launch a 40% gold backed currency on Oct 24th.
The financial equivalent of a nuclear bomb
Gold Overtakes Euro in Global International Reserves
Sturdy central bank gold buying since 2009 and a rising gold price has grown the precious metal’s share of global international reserves to the detriment of fiat currencies.
By the end of 2023 gold surpassed the euro and the next fiat currency to be challenged is the US dollar.
How did we get here?
The Russian-Ukraine war marked a pivotal moment in global finance when the United States and its allies seized approximately $300 billion of Russian central bank assets in 2022.
This unprecedented move sent shockwaves through the international community, causing many nations to reassess their financial vulnerabilities. Countries began to consider the possibility that their own assets could be frozen or seized if they were to fall out of favor with the United States or its allies.This event was not an isolated incident but rather the latest in a series of US financial interventions. The United States has frequently used economic sanctions as a tool of foreign policy, often targeting countries that attempt to trade outside the US dollar system. Notable examples include:
Libya's Muammar Gaddafi, who proposed a gold-backed African currency.
Iraq's Saddam Hussein, who attempted to sell oil in euros instead of dollars.
Iran's efforts to circumvent US sanctions by trading oil in non-dollar currencies.
These historical precedents have contributed to a growing wariness among BRICS nations and other emerging economies. The pattern of US intervention against countries challenging dollar hegemony has led to well-founded concerns about financial sovereignty and the need for alternative systems.
The BRICS nations' push for a new shared currency and initiatives like mBridge can be seen as direct responses to these fears. These countries are seeking to create financial structures that are less vulnerable to US sanctions and asset freezes, reflecting a desire for greater economic independence in an increasingly multipolar world
The BRICS nations are indeed working on alternatives to the US dollar-dominated global financial system, with several initiatives in progress. Here are the key details about mBridge and the proposed BRICS currency:
mBridge
mBridge, short for Multiple CBDC Bridge, is a cross-border payment project involving the central banks of China, Hong Kong, Thailand, and the United Arab Emirates. It aims to facilitate faster, cheaper international transactions using central bank digital currencies (CBDCs).Key features of mBridge:
Uses distributed ledger technology to connect multiple CBDCs
Allows for real-time, 24/7 cross-border payments
Reduces costs and settlement times compared to traditional systems
Pilot tests have shown transactions can be completed in seconds
Proposed BRICS Currency
The BRICS nations are exploring the creation of a new shared currency, sometimes referred to as the UNIT currency. While still in early stages, key aspects include:
Potentially backed by a basket of commodities, including gold
Aimed at reducing reliance on the US dollar for trade between BRICS nations
Could be used for settling payments and as a reserve currency
May be introduced gradually, starting with use in bilateral trade
The proposed 40% gold backing is significant, as it would provide a tangible store of value unlike fiat currencies. This could make the BRICS currency more attractive as a reserve asset.
Motivations
The push for these alternatives stems from several factors:
Desire to reduce exposure to US sanctions and asset freezes
Concerns about potential exclusion from SWIFT payment system
Aim to increase economic sovereignty and reduce dollar dependence
Hedge against perceived instability of the US dollar due to high debt levels
Project Sandman - A coordinated attack on US dollar
Project Sandman, a coordinated action by BRICS nations, could potentially trigger a catastrophic decline in the US dollar's value.
If all BRICS members simultaneously dumped their US dollar reserves and switched to alternative currencies for international trade, it would flood the global market with dollars.
This sudden surge in dollar supply, coupled with a sharp decrease in demand, would lead to rapid devaluation. As these dollars flow back to US shores, it would unleash a tidal wave of inflation, far surpassing current levels. American consumers, already struggling with rising costs, would face skyrocketing prices for everyday goods and services.
The purchasing power of US citizens would plummet, savings would be eroded, and the economy could spiral into a severe recession or even depression. Such a coordinated move would effectively weaponize the dollar's global dominance against itself, potentially ending its reign as the world's reserve currency and fundamentally altering the global economic landscape
Gold steps up and does the accounting for wars, theft, corruption, misallocation and evil acts of irresponsibility.
Throughout history, gold has consistently emerged as a stable store of value during times of political and economic turmoil.
One notable example comes from the small Swiss village of Einsiedeln, which has witnessed centuries of European conflicts and currency debasements.
During the Thirty Years' War (1618-1648), as various powers fought for dominance and currencies were repeatedly devalued, the Benedictine Abbey of Einsiedeln maintained its wealth through its substantial gold holdings. While surrounding regions suffered from hyperinflation and economic collapse, the abbey's gold-backed economy remained relatively stable.
This pattern repeated during the Napoleonic Wars (1803-1815), when many European currencies lost value due to excessive money printing. Once again, Einsiedeln's reliance on gold protected its wealth. As empires rose and fell, the village's economic foundation remained solid.
The Swiss experience demonstrates how gold often serves as the ultimate "accounting system" for human folly.
Wars ravage countries, dictators rise and fall, and fiat currencies come and go, but gold retains its value. It acts as a hedge against political uncertainty, corruption, and the economic mismanagement that often accompanies conflict.
This historical precedent may explain why many nations today are increasing their gold reserves.
As geopolitical tensions rise and faith in traditional reserve currencies wavers, countries are turning to gold as a safeguard against potential economic turmoil.
The BRICS nations' consideration of a gold-backed currency reflects this age-old wisdom: when uncertainty reigns, gold provides stability