Watchman Reporting: The Real Death of the USD Will Be Domestic Not Foreign–It’s Coming

HNewsWire: Below we separate the hype from the sad reality of the USD in the face of a new “BRICS currency.” Net conclusion: The real death of the USD will be domestic not foreign. The Bell Has Been Tolling for Years When it comes to the “bell tolling for fiat,” we can all hear its loud chimes, but that bell has been tolling since 1971 (or frankly 1968), when the US leadership decoupled the world reserve currency from its golden chaperone. Like any teenager throwing a house party, the lack of a parental chaperone leads to lots of crazy events and lots of broken furniture. The same is true of post-71 politicians and central bankers suddenly freed of a gold-backed chaperone and thus suddenly loaded with drunken power to mouse-click currencies and expand deficits. And since then, all kinds of things have…

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Watchman Warning: America Is Done: It’s Biblical, Everybody Wants To Hop On The BRICS Express—End of an Age

HNewsWire: In a move expected to fuel the ongoing de-dollarization trend, the BRICS nations (Brazil, Russia, India, China, and South Africa) have announced plans to introduce a new trading currency backed by gold. The official announcement is slated to take place during the BRICS summit in South Africa in August. This development comes as central banks worldwide have been increasing their gold reserves to diversify away from the U.S. dollar—especially those belonging to the BRICS nations. In fact, the Chinese and Russian central banks have purchased no less than 130 tons of gold in Q1 and Q2 2023 alone. In 2022, global central banks added at least 400 tons to their reserves. Source: US Global Investors Analysts view the potential gold-backed currency as a significant step toward challenging the dominance of the U.S. dollar and increasing the international credibility of…

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