Economist’s “News and Views” Wednesday 7-10-2024


The Fuse Is Lit: Dollar Hegemony Ending | Andy Schectman

Liberty and Finance:  7-10-2024

Andy Schectman joins Dunagun Kaiser at the Rule Symposium in Boca Raton, Florida.

Schectman discusses the continued dedollarization around the world and the growing influence of the BRICS alliance.

With financial and political chaos around the world, safeguarding your wealth is more important than ever, he notes.


 0:00 Intro

2:04 Weekly market update

 6:45 BRICS+ & dedollarization

20:50 Safeguarding our wealth

De-dollarization Shocked the US: BRICS End Dollar Hegemony

Fastepo:  7-9-2024

The term “de-dollarization” refers to the process of reducing reliance on the US dollar in international trade and finance.

While the concept has been discussed for several decades, its prominence has grown in recent years due to geopolitical shifts and economic strategies by various countries.

 The exact first use of the term is difficult to pinpoint, but it has gained significant attention particularly after the 2008 financial crisis.

 In recent years, countries like China and Russia have actively pursued de-dollarization to mitigate the impact of US economic sanctions and to diversify their foreign reserves.

This trend aims to reduce reliance on a single currency and enhance economic stability by using various local currencies. By focusing on their own currencies, nations aim to minimize geopolitical risks and bolster their domestic economies.

This shift is reshaping global trade and financial systems, potentially lessening the worldwide dominance of the US dollar.

In this video, we explore the growing movement of BRICS+ countries, decreasing their reliance on the US dollar for international transactions.

We examine the motivations behind these choices and provide insights into their economic tactics. Furthermore, we highlight the de-dollarization initiatives within the BRICS+ alliance, showcasing significant steps these nations have taken to diversify the currencies used in global trade.

Vince Lanci: ‘If West Wants To Trade With BRICS, They Need More Gold’

Arcadia Economics:  7-10-2024

Vince Lanci: ‘If West Wants To Trade With BRICS, They Need More Gold’

As the BRICS nations continue to move their plans forward to a potential gold-backed trade settlement currency, you have to wonder how that will affect the west over time.

Because if an oil producer can sell their oil and receive currency with a partial gold-backing, will they still want to accept treasuries in the current environment?

So in this morning’s show, Vince Lanci talks about how if the west is going to continue to trade with the resource rich BRICS nations, they’re going to need more gold.

 To find out why, click to watch the video now!