As of late Tuesday evening, August 8, 2023, countries expressing their intent to join BRICS account for 60% of known global oil/gas reserves. At the very least, this means 60 percent of the worlds oil sales will take place in a currency OTHER THAN the U.S. Dollar, once BRICS brings their new, gold-backed currency to life, claims Harold Turner, Halturner Radio Show, North Bergen, New Jersey.
The official announcement surrounding the development of this new currency is scheduled to be made on August 22. The currency is not created yet and is not available yet.
But this change will come like a lightning bolt out of the blue for the Untied States.
As things are right now, ALL oil sales around the world, are done only in U.S. Dollars. So every country that needs oil, or which sells oil, conducts those transactions only in DOLLARS.
That means every country on the planet needs to hold physical dollars in its central bank, so that the country can buy the oil/gas it needs.
Once the new BRICS currency comes online, all those excess DOLLARS being held all over the world, will start to come back tot he United States.
Thus, the value of OUR currency will drop against all those other currencies, because nobody will want or need our DOLLARS anymore.
Now, bear in mind, the US does not manufacture much of anything anymore. We import all our stuff.
So as the value of our DOLLAR falls against foreign currencies, the cost of the things we buy will utterly skyrocket because our currency is worth less and less compared to other country’s currencies.
We will see hyper-inflation here in the USA that I suspect could rival the Weimar Republic just before it collapsed.
As of tonight, these are the countries that intend to join BRICS:
- Saudi Arabia
Once this gets done, and oil sales begin in the new BRICS currency, the United States will economically collapse and nothing can stop it.
I smell a world war coming… – Harold Turner feels.