Russia and China Create Their Own Reserve Currency
This video by Rick was recommended to me “Russia and China Create Their Own Reserve Currency” it’s an interesting video, you can watch the video too or you can see the highlights bellow the video
Highlights
- Brics countries – Brazil, Russia, India, China and South Africa
- These countries when combine make 41% of the total world population
- These countries when combine are 4.5 time larger than the US land for natural resources
- These countries combine GDP is a little bigger than the US
- US is the Current World reserve currency
- 1944 after the war, the us hold most of the gold
- From the 44 allies nations , any body that wanted to trade, needed to trade with the US dollar
- 1960-1968 US overprinted the Currency
- When paper money is overprinted, inflation goes up
- because money was being overprinted many nations were worry, so they started exchanging US $ for gold
- By 1971 too many countries were exchanging the us dollars for gold
- 1971 President Nixon Took US off the gold standard, Therefore, the us dollar is backed by nothing
- 1959, 1/4 of a trillion dollars was in circulation
- 2022, 21 trillion dollars is in circulation, that’s 76x more money than in 1960 in circulation
- If brics happens, more countries are going to join them
Some of the countries that might join them are Argentina, Iran, Saudi Arabia, Turkey, Egypt
The main point that I got, US is the Current World reserve currency, if Brics is created it will compete with the US dollars. As a result the the US dollars power will decrease. Which it make sense
If you are an investor and Brics is created, it means that you can invest in them too, so from your portfolio, a portion of the money that you would had invested in the US currency, will go to them instead.
