Jim Rickards: The “BRICS+” countries will announce the creation of a new currency at its annual leaders’ summit conference on August 22–24. This will be the biggest upheaval in international finance since 1971. It’s taking direct aim at the Dollar. Quite simply, the world is unprepared for this geopolitical shock wave.
China and Russia are likely to call the shots. My estimate is they will want a high dollar price for gold in order to make their BRICS currency more valuable. This will help to increase their own wealth and destroy confidence in the dollar.
This policy backed up by physical gold purchases could drive the dollar price of gold to $3,000 per ounce or higher very quickly. In reality, the BRICS currency and physical gold are pegged and unchanged. If gold goes to $3,000 per ounce, we are actually witnessing the collapse of the dollar.
Geen opmerkingen:
Een reactie posten