The US must have the most stupid and or impotent military leadership in the world. The excuse that they are only following their criminal "Commander in Chief" is bogus. People with honor don't follow traitors and criminals; they resign if they aren't willing to put their lives on the line and fulfill their duty.
Anyway, Ricards is pretty sure this is coming in August. If BRICS+ does link to gold, which they SHOULD if they think it is time to call The Emperor on his New Clothes, things should get very interesting very quickly. Maybe, if we are lucky, they will open more gradually and only lay down their ace in the hole in another year or so (giving De and me a chance to complete our game).
For myself, all I can say is I hope to be done with my current project, for this year, and hopefully launching my new escape raft before the critical date. And if it passes, without any major fallout, I will sing praise to Allah and not waste any extra time I might be given. I mostly wish my foreign language was better and I had an OOC income source.
-Fiz
http://dailyreckoning.com/the-biggest-monetary-shock-in-52-years/
The Biggest Monetary Shock in 52 Years
I recently revealed that the so-called “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.
It appears likely that the new BRICS+ currency will be linked to a weight of gold. This plays to the strengths of BRICS members Russia and China. These countries are the two largest gold producers in the world, and are ranked sixth and seventh respectively among the 100 nations with gold reserves.
One difficulty in considering the impact of the new BRICS currency on the dollar is that all dollar indexes compare currency to currency. But that’s meaningless since the dollar, euro and sterling could all suffer from a loss of confidence at the same time.
If gold goes from $2,000 to $10,000 per ounce, that is better understood as an 80% devaluation of the dollar: from 0.0005 ounces per dollar to 0.0001 ounces per dollar. That’s a collapse of confidence but you’ll miss it if you’re looking at euros or yen.
Those currencies will all be collapsing at the same time.
The Only Way to Measure the Dollar
The only objective metric for dollar strength is the dollar price of gold by weight since gold is not a central bank currency. This resolves any valuation conundrum as follows:
1. Dollar strength can only properly be measured in gold.
2. Gold is money but it is also a commodity.
3. BRICS are dollar poor but commodity rich.
4. A new BRICS+ currency will be linked to gold.
So the collapse of the dollar really means higher inflation and a much higher dollar price for gold. That means other commodity prices will rise in lockstep. A commodity boom favors BRICS generally speaking.
This dynamic could lead the BRICS+ currency to displace the dollar as a dominant payment currency more quickly than most expect because of the link to gold.
Except for direct participants, the world has mostly ignored this prospect. The result will be a shock to the international monetary system coming in a matter of weeks.
Still, the impact on investors won’t end when the new BRICS+ currency is rolled out. The market implications will roil exchange rates and capital markets for years to come. Most people still have no idea how to even approach the subject.
(continues at link)
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