Economist’s “News and Views” Sunday 5-5-2024


BRICS expansion with 24 New Members: All you need to know

Fastepo:  5-4-2024

Recently, it was announced that new members might soon join the BRICS coalition, though their identities have not yet been disclosed.

Our investigative efforts have identified several potential candidates. Considering the significant number of countries that could join, we have analyzed their demographic and economic strengths to estimate the potential impact on BRICS’ power.

If you believe any country has been overlooked, please let us know and include your source so we can update our information accordingly.

 In this video, we will explore each potential new member, examining their population sizes, economic strengths, and principal exports.

Please note that the order in which these countries are presented is random and does not imply any ranking or preference.

Economy Entering ‘Death Spiral’? Markets Are ‘Cornered’ | Clem Chambers

David Lin:  5-5-2024

Clem Chambers, CEO of Online Blockchain, gives his outlook for gold, Bitcoin, stock markets, and monetary policy.

0:00 – Intro

 1:00 – Market correlations

4:50 – Inflation and fiscal spend

 8:47 – Gold price outlook

15:10 – Bitcoin price outlook

18:05 – Stock market outlook

19:43 – UK market

21:53 – Tech stocks

23:50 – Capital gains tax increases

 29:33 – Economic death spiral

33:19 – Most bullish asset

Yes, a BRICS Currency Was Announced. No, It Hasn’t Launched

APMEX: 5-5-2024

Our last video about the announcement of an official BRICS currency generated a lot of questions. Today we’re clarifying some of the finer details and diving a little deeper into the topic.
You’ll also find one of the sources we’ve referenced in this description so you can read the interview transcript that has been used by many to report on this topic, including us.

When Russia first stated in 2023 that BRICS would create a new currency, multiple other nations and their representatives denied it, creating an atmosphere of speculation. Sergei Glazyev, a prominent Russian economist, joined an interview where he made it clear a BRICS currency is in development and almost complete.

This information slowly trickled out to western media and was the first known confirmation that a BRICS Currency is in development, not a theoretical concept.

 While the payment system is said to be blockchain based, the currency itself is still a mystery.

We don’t know for sure if it will be backed by gold, but it is implied. Glazyev states that one thing this new currency will be based on is “a basket of exchange-traded commodities.”

This statement, along with BRICS nations buying gold at an exceptional rate, makes us believe gold could be included in that basket.

While we know more than we knew a year ago, we still know very little about the actual currency.

Again, there is no official launch date set, but speculation abounds that a common currency with final approval would be introduced to the world and named during the next BRICS Summit in Kazan, Russia between October 22-24th.

We will follow any updates closely and be ready to pass the information on to you.