BRICS and Yen
HawkeEye
September 7, 2022
f you have not heard of BRICS, you eventually will and will feel its influence in markets. To be sure it is a fledgling movement with little current effect on
The BRICS Consortium is made up of friends and foe and is growing in membership and influence. BRICS stands for Brazil, Russia, India, China, and South Africa and has been around for years plotting how to dethrone the dollar as the world’s reserve currency.
Our governmental regulators and bureaucrats want us to believe this is impossible. These are the same people who thought inflation was transitory and easily controlled, so some caution is warranted when taking their advice.
But the BRICS group is growing and now has as many as forty nations waiting to join. This series will track their progress over time.
f you have not heard of BRICS, you eventually will and will feel its influence in markets. To be sure it is a fledgling movement with little current effect on
Back on September 7, 2022, we wrote about the beginnings of a movement known as BRICS (Brazil, Russia, India, China, and South Africa) in an article titled BRICS and Yen.
Back on September 7, 2022, we wrote about the beginnings of a movement known as BRICS (Brazil, Russia, India, China, and South Africa) in an article titled BRICS and Yen.
Last week, President Trump issued a needed but late warning to the BRICS nations about their attempts to undermine the dollar as the world’s reserve currency. His threat of tariffs