This week Paulk has dug up some vital content…introducing the BRICS proposal to supplant the dollar, but not with their own different-but-the-same version. “The Unit” would be decentralized and support smart contracts and basically threatens the entirety of Western monetary hegemony and banks as intermediaries.
by Dr. Chris Martenson
Chris Martenson’s Peak Prosperity
In this week’s episode of Finance Paul and I discuss the huge moves taking place that confirm the notion that huge, tectonic moves are taking place on the world economic and financial stage.
Spurred on by the weaponization of the dollar, possibly the dumbest and most clueless policy ever devised or implemented, the rest of the world has decided enough is enough.
They are tiptoeing away from the dollar and quietly implementing cross-border currency settlements and now have a proposal on the table for a decentralized, gold-backed settlement system.
With a proposed 40% backing by gold and further backing by other commodities (such as oil?) this new currency represents an enormous threat to the fiat-only Western central bank offering.