Robert Kiyosaki on BRICS Currency, De-Dollarization, and End of US Dollar
The author of Rich Dad Poor Dad, Robert Kiyosaki, has reiterated his warning about the end of the U.S. dollar. Kiyosaki tweeted that on Aug. 22, about 41 nations will meet in South Africa to de-dollarize the world. He expects the BRICS nations to launch a new currency called “bric,” with each unit equivalent to 1 oz. of gold.
Main Points:
- BRICS summit in South Africa on Aug. 22-24
- Over 40 nations interested in joining the economic bloc
- 69 leaders invited, including African heads of state
- No Western leaders, including Macron, invited
- Focus on de-dollarization efforts and using national currencies in trade settlements
Kiyosaki referred to the proposed BRICS currency as “bric,” a term used by financial expert Jim Rickards. Rickards believes the new currency will be linked to gold. Kiyosaki has previously warned about the end of the U.S. dollar, stating that it will happen when the BRICS nations launch a gold-backed currency.
Hot Take
The potential launch of a new BRICS currency and de-dollarization efforts could have significant implications for the global economy. If successful, it could challenge the dominance of the U.S. dollar and reshape international trade. It will be interesting to see how this development unfolds and whether other countries will follow suit in de-dollarizing their economies.
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