Below we separate the hype from the sad reality of the USD in the face of a new “BRICS currency.”
Net conclusion: The real death of the USD will be domestic not foreign. The Bell Has Been Tolling for Years When it comes to the “bell tolling for fiat,” we can all hear its loud chimes, but that bell has been tolling since 1971 (or frankly 1968), when the US leadership decoupled the world reserve currency from its golden chaperone. Like any teenager throwing a house party, the lack of a parental chaperone […]
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