BRICS plan to remake the world order.

#dollar #brics #gold #currency #money #eurodollar
Next month, the BRICS summit is going to introduce a new common currency and one backed by gold. Or is it? Before it even begins, the group seems like it will have to proceed without the I and the S. Or any monetary sense.

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THE EPISODES

DISCLOSURES
Jeffrey Snider (The Promoter) is acting as a promoter for an investment advisory firm, Atlas Financial Advisors, Inc. (AFA). Jeffrey Snider is affiliated with AFA as a promoter only and is not in any way giving investment advice or recommendations on behalf of AFA. The Promoter is being compensated by a fee arrangement: The Promoter will receive compensation on a quarterly basis, based on the increase in account openings that can be reasonably attributed to the Promoter's activity. The Promoter will not be receiving a portion of any advisory fees. The Promoter has an incentive to recommend the Adviser because the Promoter is being compensated. The opinions expressed on this site and in these videos are those solely of Jeffrey Snider and Eurodollar University and do not represent those of AFA.

[achilles]

Allegation is that BRICS will implement a gold (or commodity basket) backed TRADE SETTLEMENT currency. This is not the same as the 'gold standard' as I understand it, but it is similar to Bretton Woods prior to Nixon closing the gold window. Exchange rates between the BRICS nations would still fluctuate.

Issue with the Eurodollar isn't that it lacks ease of use, the issue is that it has been abused, and the banking systems in Europe and America have now gotten entirely over-leveraged.

[ericl]

I love how YouTube tacked the Wikipedia "New World Order" tag to your video.

[briannewman]

The issue is not the trading system but the unit of account. Currently the unit of account is the US$. A gram of gold could also be a unit of account. As with the current system which has few US$s, non of which actually move, a system that uses a gold back unit of account could also use only a small amount of gold, little or non of this gold would have to move anywhere.
The system is what is important for the participants, the unit of account that is currently used is just a historical artifact, which was originally based upon gold.

[lakshmineuroscience]

Indian people always outwit the government to buy gold inspite of government shunning it

[ronaldl]

Congrats on the 1 year Euro-Dollar University. I've been learning so much from your videos. Thanks a lot for making and sharing them with us.
Keep 'm coming!

[collybeans]

Isnt the point of a gold standard that you cant inflate it into oblivion? And what prevents you from doing the legder thing anyways so you dont have to move the gold..? Especially since centralization is not a problem in this example.

On another note i know that BRICS has their own payment network finished in a few years, what then? I dont see how they are in any way reliant on the system they chose to leave in fear of having the dollar be used as a weapon against them…

[yngvesognen]

It wasn't the barbarians at the gate who brought down Rome. The high price of maintaining the empire and coin clipping did that. That will be the case now too with the eurodollar, a modern equivalent to that process.

[HelloThere-nzld]

Exactly. The token method works great as long as Countries, Governments, and people, live in they don't.

[tomekszwejser]

happy anniversary !!! great to hear from wise people! I wish your channel to grow to millions and millions and millions of viewers - real truth is reviled here!!! thanks Jeff once more!!!😃😉😊

[consciouscrypto]

Euordollar sounds like a protocol, just like Bitcoin is a protocol. Only Bitcoin has a limited supply that makes it also an asset, and it's transparent because it's a public blockchain.

[collybeans]

Who is saying the dollar will go to zero? I know the Brics arent.

[silversurfer]

Russia is currently locked out of SWIFT so they need another reserve currency to exist. Russia doesn't need approval from anyone to launch a reserve currency. Last I checked the entire world depends on raw materials from Russia. So Russia can in reality force others to use a currency of their choice

[saltydog]

Trust is dead! 😵 The world will eventually have to turn to gold! 😎

[SilverSquirrel]

Why couldn't a gold standard work? If there were audited vaults all around the world in which gold changed ownership but not location?

[matthewlewis]

Bric is not about the transition of money for product. Brics is about insuring Glabal value based on a valued commodity.

[trialwithfire]

Trust > Efficiency. Even an inefficient BRICS gold currency will work because the USD system has lost everyone's trust.

[anonymouslyominous]

Wow only one year, feels like I've been listening to you yammer on about this crap for a decade, but seriously thank you, helping me understand the world just a bit better and congratulations on one year of eurodollar University

[norsefalconer]

There was A LOT of animal based transportation infrastructure globally that worked great, until it didn't (comparably)

There was an EXTENSIVE and efficient hard-line phone system infrastructure globally, that worked great and efficiently (comparably) until it didn't.

I think Jeff's position on the Eurodollar's continued ability to be unrivaled is naive.

[leebeidelman]

Yes, this system works great. Until the day when people don’t want to accept Eurodollars as payment. Since the Eurodollar is losing real value rapidly, and subject to the risk of being stolen by adversary governments, the transition to a new system has begun.

[rlhernandez]

Congrats in the first anniversary! (I still miss Emil.)