Fox News and CNN had reports of the BRICS reserve currency being used to take over for the failing US Dollar. If or when Saudi Arabia trades Oil for Yuan, it is over for the USD. That day! According to the below, Fox News report, this will lead to mass inflation in the US. Monica Crowley calls this a “perfect storm”, which will lead to a Weimar Republic like inflationary cycle. Click here to read more.
This is terrifying! A worthless currency will destroy the American way of life, and destroy the value and buying power of the dollar. This perfect storm could take a while to play out. However, what does President of Kenya, William Ruto know that we do not? Click here to view on twitter.
BRICS with it’s original 5 countries of Brazil, Russia, India, China, and South Africa is 42% of the global population and 15% of the global GDP. However, add Isreal, Turkey, Iran, Saudi Arabia, and a total of 12 additional countries. Once the total of 17 countries are assimilated together, they will be 60% of the global population, and over 50% of global GDP. See the two maps below detailing the expansion of the BRICS nations.
Original BRICS map:
BRICS expansion map:
Whenever this rolls out, and it appears to be eminent, the US will try to roll out CBDC. However, Congress has a growing resistance mounting right now to oppose CBDC. We believe the US will eventually join BRICS. Thereby rejecting CBDC. Time will tell. Remember, this BRICS reserve currency has a basket of precious metals backing it and uses Bitcoin for international settlements on the lightening network. Will this improve Bitcoin adoption globally? Absolutely and in a parabolic manner! By 2025 Bitcoin use would be exponentially higher than today based on this adoption. There is no scientific way to project it accurately, but Metcalfe’s Law works very well. BRICS reserve currency will spark adoption and jump start Metcalfe’s Law. As node operators increase in number, this increases network adoption. Node operators have doubled over the last four years. Perhaps that would also increase, since running nodes and mining Bitcoin lead to KYC free Bitcoin. In other words, your earning Bitcoin without being tracked by the IRS. KYC free Bitcoin will trade for a premium in the future as this aforementioned Bitcoin adoption comes in, post BRICS.
Bitcoin truly is the lifeboat as this picture below shows. Many will be left behind due to resistance to adoption of Bitcoin:
Having a proof of work digital asset, made of energy, and code, that is easily transmittable, will be essential if hyperinflation does set in. This scenario is very ugly but it IS a non zero chance at this point. Case in point, the Fed’s balance sheet since banks started collapsing:
$8.73 Trillion in quantitative easing has been done since March 3rd! 2/3 of the quantitative tightening since January 2022 has been erased in two weeks. Kicked off by the SVB failure. Deutsche Bank is next and Bank of America is not far behind. Owning Bitcoin is for survival now. It is a risk off asset. It gains value proportional to how fast the dollar loses value. What we know is, if BRICS is accepted by Saudia Arabia as payment for Oil in Yuan. Then, Bitcoin in USD terms, will go straight up. It will be sudden! There is no more than 21 million Bitcoin ever to be produced. This scarcity will really become obvious after the April 2024 halvening. When the miner reward is cut in half. That increased scarcity, plus this high demand, brought on by the acceptance of BRICS reserve currency should bring Bitcoin to incredible levels by the end of 2024! Don’t buy Bitcoin for price though. Buy it for survival! We are not financial advisors and this is not financial advise. If and when BRICS reserve currency goes live, the storm it will kick off will be unbelievable! The US Dollar will lose most or all of it’s remaining buying power in very short order. There will be a RUSH to safety. Bitcoin and secondarily Gold and Silver will be the safe havens. Bitcoin adoption is exponentially higher than the precious metals. So, our bet is Bitcoin is the biggest winner here. Get in the lifeboat!