BRICS

Matthew Piepenburg sits down with Rick Rule and Jim Rickards to discuss the future of the USD, the rising BRICS tide and the Realpolitik of any realistic gold-backed BRICS trade currency.

On July 27, figures released by the US administration showed GDP up by 2.4%, well above the 2% anticipated by analysts. The U.S. economy seemed to be resisting the sharp rise in interest rates better than expected. But the administration published a terse correction: the increase in GDP was not 2...

After months of debate about various currency and commodity baskets, a Russia- and China-led consortium has apparently settled on using gold as the basis of a planned new international currency system separate from the US dollar and euro.

From being a purely economic variable, inflation will also become a geopolitical issue through the Russia/NATO war, de-dollarization and an increasingly multipolar world. It's vital to be aware of this and to act globally, otherwise things are going to end very badly, especially for Europeans.

The close link between gold and the dollar is well known: when the greenback rises, the yellow metal falls. For several years now, however, the international context has been shaking things up.

China raised its gold reserves for a ninth straight month in July. Bullion held by the People’s Bank of China rose by 740,000 troy ounces, the central bank said on Monday.

The financial system should have been allowed to collapse 15 years ago when the problem was 1/3 of today. But governments and central bankers prefer to postpone the inevitable and thus passing the batten to their successors thereby exacerbating the problem.

In the United States, public finances continue to deteriorate. Faced with a weak currency, Japan's central bank is forced to let rates rise. The price of gold in yen broke an all-time record, amid complete media indifference.

The price of gold has rallied in recent days. Not only is the battle against inflation far from won, but the risk of a monetary policy error is also increasing.

Since the introduction of measures enabling banks not to bear bond losses on their balance sheets, the markets have not recorded the slightest correction. We have just witnessed six months of spectacular gains. It's as if the Fed had assured the markets that it would not hesitate to intervene at...