- BRICS is an acronym for five leading emerging economies: Brazil, Russia, India, China, and South Africa.
- The aim is to move away from the dependency on the U.S. dollar and provide an alternative global financial option.
The alliance countries have already taken measures to bypass the US-dominated global financial system.
- Brazil has already begun to accept trade settlements in Chinese yuan while India and Russia have the Rupee-Rouble mechanism for trade.
- China and Russia have been amassing a stockpile of gold over the past decade.
Rich Dad Poor Dad author Robert Kiyosaki thinks US President Joe Biden is “crushing the middle class” as US political macroeconomics politics drive de-dollarization around the world.
- Kiyosaki predicts that 70% of the world’s population will eventually be using a gold-backed Chinese yuan as their main currency.