Liberty

At the BRICS summit on August 22, a new currency is to be announced which will be pegged to commodities, and gold in particular. 
Central banks around the world bought almost 230 tons of gold in the first three months of this year, which is the most buying of gold in a single quarter that has ever been seen. Precious metals price suppression 
That the price of gold is still depressed perhaps bears testament to how the price of precious metals is being suppressed by the big commercial banks on the London Bullion Metals Exchange (LBMA) and the Commodities Exchange (COMEX). 
However, as the alleged price suppression continues, large entities are able to buy gold and silver at rock-bottom prices in preparation for a world where tangible resources are much more likely to be valued than fiat currencies printed out of thin air. 
The recent dumping of the gold and silver prices after huge shorting took place might be one of the western commercial banks’ last ditch attempts to keep both gold and silver from rocketing higher, which would have the potential to tear the heart out of the dollar. The BRICS nations 
The BRICS nations is the term for the original five countries that compose this trading block: China, Russia, India, Brazil, and South Africa. Saudi Arabia is among one of 25 other countries that are formally applying for membership of BRICS. 
The BRICS nations hold and produce a significant share of the world’s resources. China and Russia are the 6th and 7th biggest gold producers in the world, and Saudi Arabia and Russia are 2 of the 3 largest energy producers. 
With China, India, Brazil, and Russia, BRICS has 4 of the 7 largest countries in the world measured by land mass, and also 4 of the 9 largest populations. 
If 50% of the world’s wheat production is also put into the mix it can be seen that the BRICS nations have a massive amount of power and should they put up a rival reserve currency to the dollar they will need to be taken extremely seriously. Creation of a new bond market 
Some analysts and detractors might say that a BRICS reserve currency cannot really get off the ground without a deep and liquid bond market to underpin it. Be that as it may, renowned economist Jim Rickards has posited that this could be done if BRICS+ created a bond market in around 20 countries at the same time. 
With the massive population that the BRICS have, retail investors could be encouraged to buy the bonds, much like what happened with the Liberty Bonds, which were used in the US for the financing of the war in 1917. 
If all this should come to pass then the financial upheaval and turmoil in the West, where currency is based on nothing, has the potential to completely change the world order. There is not much time left for retail investors to protect themselves with gold, silver, and bitcoin. 
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 
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BRICS nations summit in August will turn monetary system upside down

Crypto Daily™

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