MIKECRISTO8
This is BIG!
BRICS will incorporate an ECB style central banking for its members.
Centered around gold.
Could we see BRICS countries pledging their gold reserves for this new common currency system?
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ALERT ALERT ALERT
This story from is categorically false!
Let me explain.
OPEC (including Saudi Arabia) is selling oil in RMB
There is approximately $150 trillion in off balance sheet dollars created by the Treasury department (that funds bank derivatives) to fund the oil trade of poor countries,
Where the U.S. Treasury manipulated exchange rates to drive down the cheap labor of poor countries.
The poor countries are selling their off balance sheet dollars back to the U.S. Treasury and buying back their local currency (from the U.S. Treasury dept),
The poor countries will then retire this debt which will stabilize poor countries local currency and increase wages,
The poor countries will get a much better deal to trade their local currency for RMB in the oil trade.
In normal trade relations between poor countries and the U.S. output was invoiced in dollars.
Trade is now invoiced in local currency,
Poor countries are now dumping the U.S. Treasury bonds because OPEC is not selling oil to Japan (or any other G7), that holds dollars as reserves,
Because the U.S. is in a debt trap.
Two things are happening simultaneously.
Off balance sheet dollars (oil trade) are being repatriated (bank derivatives implosion) back to the U.S. Treasury department
U.S. Treasury bonds (through normal trade) are being repatriated.
The U.S. bond market is going to blow up.
The U.S. debt trap is now in full swing.
There will be no bailouts by the Fed or IMF.
BTW, this is why Japan is blowing uphttps://dinarevaluation.blogspot.com/2024/05/rv-update-by-mikecristo-2-may_01772448842.html
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