BRICS Birth of new monetary system
What happened in last 10 years is that BRICS countries have prepared to make a new step in monetary system. The sanctions against Russia speed it up and now US dollar is facing devastated blow as a world reserve currency.
As the US weaponized the global monetary system against Russia and China and other BRCIS nation.
The BRICS nation turned against US dollar and now they have announced a new monetary system that will unfold to the end of this month. This birth of new monetary system is still unclear how it will work but by the look the dollarization of BRICS nation shows that they have complete trust in there new system.
BRICS currency is something that many investors and people are look up to. This new currency backs the value of gold.
How things look now the US dollar will lose, trust because is not more backed up by gold, instead US is printing trillions and the bubble groves. Printing money will make the system collapse slowly coz more countries will apply to join BRICS nation or use their new monetary system to trade.
Trust will be on the side of the currency who is backed by gold.
The US is trying to make some changes and help there economy in order to save and stop the inflation. US is trying to stop people use cash instead, they should use credit cards, one-step closer to digital currency.
There are many speculations about the BRICS currency and how it will be backed up by gold. However, many believe that this new currency will be referenced to the weight of gold that BRICS nation have.
One new indicator that shows emerging future problem is that nearly 90% of central reserve banks around the world pulling there gold reserve back to their countries.
As we know the price of gold will grove and by the look there is not a stop sign on a horizon.