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Reading: BRICS Will Not Kill Greenback – Struggle Will | Economics
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Michigan Post > Blog > Economics > BRICS Will Not Kill Greenback – Struggle Will | Economics
Economics

BRICS Will Not Kill Greenback – Struggle Will | Economics

By Editorial Board Published October 29, 2024 5 Min Read
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BRICS Will Not Kill Greenback – Struggle Will | Economics

QUESTION: Marty, I do know you’ll not say who you advise, however we all know you have been the one Western analyst referred to as in by China in the course of the Asian Foreign money Disaster. Individuals have additionally seen you in India at that well-known lodge that the terrorists attacked. China even issued a white paper on how their central financial institution makes use of Capital Move Evaluation, which you invented. That mentioned, my query is: The BRICS had everybody anticipating a gold-backed foreign money if that failed. You additionally mentioned in an interview that the brand new BRICS foreign money wouldn’t displace the greenback. Would you touch upon why a gold-backed BRIC be aware would fail since they appear to have taken that place from you?

QB

BRICS Note

ANSWER: The BRICS foreign money was created for geopolitical causes when the Neocons remodeled the SWIFT system into an financial weapon and even threatened China that they might do the identical to them in the event that they supported Russia. As soon as that occurred, the Neocons remodeled your entire world’s financial system right into a weapon of struggle. That’s the reason we’ve got the BRICS. It had nothing to do with killing the greenback or backing their foreign money with gold.

Wholesale Price Inflation Gold Fluctuated

Many hoped for an official announcement concerning a gold-backed foreign money, which didn’t materialize. Look—a gold-backed foreign money could be massively deflationary. The cash provide couldn’t develop with the inhabitants or in instances of want with out new discoveries. Simply because a foreign money is gold doesn’t remove inflation or deflation. All of the gold discoveries in the course of the nineteenth century in California, Alaska, and Australia induced havoc economically. Then there have been wars. The truth that gold was the foreign money didn’t stop inflation.

1715 FleetCobSet 2

Spain defaulted 7 instances. All of the gold and silver they introduced again from the New World induced huge European inflation. Those that preach {that a} gold normal is the reply know nothing about historical past.

Tiberius Aureus Genuine India Imitation

Gordian III AV Inidian Imitation

They blame “fiat currency” as if this may clear up all the issues by eliminating it. There have been booms and busts all through historical instances lengthy earlier than there was paper cash. ALL foreign money is fiat, even when it’s gold. I’ve proven that Southern India routinely imitated Roman gold cash as a result of they’d a premium over gold – fiat. Northern India and the Kushan Empire did situation their very own coinage primarily as a result of they traded extra with China. Southern India caught imitation Roman gold cash for about 250 years.  That confirms that the Roman coinage was price greater than the steel content material.

BRICS Will Not be a Gold-Backed Foreign money or a Greenback Killer

Strong EuroEuro US Clear

 

They made the identical claims in regards to the Euro. That, too, didn’t work out nicely. Why? The worth of a foreign money is the productive capability of its individuals—not its gold reserves. Japan and Germany misplaced the struggle and rose to the highest of the financial meals chain as a result of their individuals have been productive. The US has the most important CONSUMER-BASED economic system, so everybody must promote their merchandise right here. That signifies that they have to promote in {dollars}. The US can be sturdy militarily. That additionally provides to the inspiration of the foreign money.

UK Debt 1692 2012

It’s time we abandon all of those previous, silly financial theories, leftovers from the 18th and nineteenth centuries. The economic system has developed since then. The Neocons are destroying the greenback. They’re undermining the way forward for america, and once we lose one other one in all their limitless wars, the monetary capital will shift from New York to Beijing. Simply as struggle killed Britain, so will it kill the greenback and america.

TAGGED:ArmstrongBRICSdollarEconomicskillwar
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