Major Setback For The U.S. Dollar

The cold war is heating up. This is the war for the world’s default currency.

The U.S. is fighting many wars literally and figuratively to maintain the U.S. dollar as the world’s reserve currency. China and other eastern countries are trying to take that crown.

Last week, in a story that the western media ignored, Russia and China officially agreed to a new reserve currency based on the BRICS currencies, cutting the U.S. dollar out of the picture. BRICS stands for Brazil, Russia, India, China, and South Africa.

This new BRICS currency is based largely on commodities like gold, silver, uranium, etc., which these countries are swimming in. The U.S. dollar was taken off of the gold standard in the 1970’s and is currently based on debt. Yes the U.S. dollar is based on debt. The U.S. is $30 trillion in debt. Do you see the problem here? Watch our most recent video for further explanation of just how scarce these resources are in The United States.

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