BRICS Announces New Currency to Replace the Dollar

BRICS nations announced a new currency designed to replace the dollar.The creation of this new gold and commodity backed currency will be discussed at the BRICS summit this August.

BT's Kei Pritsker explains how this new currency could overturn the hegemony of the US dollar.

[HodgeChris]

Really where are investors putting their cash? Isn’t it crazy how mortgage rates continue to rise with higher imports and declining exports, but the FED is yet to lessen cost. Something will eventually break if they keep raising interest rates and quantitative tightening.

[Patriciabanks]

Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420, 000 losing value because of high inflation. Where else can we keep our money?

[Ford]

Most people simply enter the foreign exchange market without comprehending matters like this. The first stage in building money is determining your goals and risk tolerance, which you may do on your own or with the assistance of a financial counselor who works with a verified Finance agency. And also you can learn the facts about saving and investing and create a clear plan, you should be able to acquire financial security over time and enjoy the benefits of income management.

[loumcast]

Welcome to the era of multipolarity, the hegemony of one country on the world's stage is over.

[SophiaChristian-soof]

BRICS seeks to create a new currency, considering gold's historical role as a store of value and medium of exchange. However, the functionality and acceptance of a gold-backed currency in the current global financial system are uncertain. Creating a new currency requires careful consideration of economic, political, and logistical factors.

[GillerHeston]

For the first time in decades, the United States is losing its clout as a federal reserve currency. They don't have any more economies to use to control inflation, and less money is being spent on stock and oil trading than in the past. They all lend support to the idea that a new multilateral world order is in the works.. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio.

[joechow]

What I really like is the candidness, the truth and unbiased portrayal of your views!

[Winter_Jasmine]

Goodbye US$!! Hello the BRICS Nations New Currency!!

[dominiqpowell]

I LOVE THE FACT IT WILL BE BRICS+ CURRENCY WILL BE BACKED BY GOLD AND OTHER RESOURCES, BRILLIANT NEWS.

[nergispaul]

What is needed is an interbank transfer clearing mechanism outside the control of the G-10.

[DIRKDIGG]

Need to put away the USA money printer

[williamcheong]

Excellent BRICS. Music to the world's ear.

[vostrovostro]

using the dollar is like supporting terrorism by the US on defenseless countries with resources.

[thefirstog]

So naturally rich countries will finally be able to enjoy their riches and not get exploited. #BRICS+

[DarkVader-jjdt]

I really enjoyed your unbiased reporting without the hysterics, I will be watching more of your videos. Well done.

[jeffcauhape]

A calm and accurate description of the current state of affairs. I like that.

[andyhughes]

You can be sure the U.S. will disrupt this roll-out with violence.

[raskolnikov]

THE FUTURE IS BRICS. AMAZING TIMES WE ARE LIVING IN

[cpxh]

The U.S. uses its dollars as a weapon, therefore, de-dollarize makes sense.

[af]

If only Gaddafi was alive today (and had developed his nuclear program rather than trusting NATO) Libya would be prosperous and undoubtedly part of BRICS.