China Strikes Back: “The End Of The US Dollar”

"in 2001 the term bricks was going to represent Brazil Russia India China and later South Africa who are believed to dominate the global economy by 2050."

"and might soon include the likes of Argentina Egypt Iran Indonesia Bangladesh and the United Arab Emirates which if accepted would create an entity with the GDP 30 percent larger than the United States over 50 percent of the global population and in control of 60 percent of the global gas reserves"

"a new report highlighted that brics nations are in the process of creating a new medium for payments established on a strategy that does not defend the dollar or Euro even though the details are sparse it's said that the new currency would be secured by gold and other Commodities such as rare Earth elements and the new form of currency would be presented at The Brick Summit this year"

"the dominance of the US dollar has been steadily declining for more than 20 years with most of that going to China or smaller countries that play a more limited role as a reserve currency"

"central banks have been buying up the precious metal at the fastest Pace since 1950 with China making another purchase of 30 tons back in December"

"there's also never been a reserve currency that's lasted more than 110 years and so far we're on year 103"