In a world filled with economic uncertainty, the mighty US Dollar finds itself under fire. With increasing inflation and growing scrutiny of the US Federal Reserve's policies, the greenback is facing challenges on a global scale. But brace yourself, because the coming months could prove to be even more tumultuous for the dollar as a group of powerful nations sets its sights on "de-dollarizing" the global economy. And according to the renowned author of Rich Dad, Poor Dad, this move could send the price of Gold skyrocketing to the moon!
Robert Kiyosaki, in a recent tweet, revealed that a whopping 41 nations are planning to gather on August 22, 2023, in South Africa for what he calls gang warfare" against the US Dollar. The group in question? The BRICS nations are Brazil, Russia, India, China, and South Africa. Kiyosaki predicts that these countries, along with others, will join forces to launch their own currency, aptly named the "BRIC." But here's the kicker: This new currency will be backed by gold. According to Kiyosaki, one BRIC will be equivalent to one ounce of gold, potentially driving the price of this precious metal to reach an astonishing $3000. Currently, gold is trading at an average price of $1972, but who knows what the future holds?
This news comes at a time when the US Dollar is already facing its fair share of challenges. On Wednesday, the greenback took a hit as the US Federal Reserve's policy decisions and Chairman Jerome Powell's comments on the policy outlook came under intense scrutiny. The USD index, which measures the dollar against six major currencies, is set to finish the day significantly lower, hovering around the 101.00 mark.
Reports indicate that over 40 nations have already expressed interest in joining the BRICS group. Although Russian President Vladimir Putin won't be attending the upcoming BRICS summit, the group remains determined to distance itself further from the US Dollar. While a senior BRICS diplomat claims that the BRICS currency is not on the agenda for now, the group's continued move away from the greenback speaks volumes.
So buckle up, ladies and gentlemen, because the battle for the dollar is heating up. Will the BRICS nations succeed in their mission to dedollarize the global economy? And if they do, will gold emerge as the ultimate winner, soaring to unprecedented heights? Only time will tell, but one thing is for sure: the world of finance is about to witness a showdown like never before.
