Why BRICS Currency will Fail

Doug Casey discuss the potential impact of the BRICS currency on the international financial system. Doug and Matt explore reasons why the currency may not be successful and the need for an alternative to the US dollar. The speakers express concerns about the inflation of the US dollar and the lack of trust among the BRICS countries. They also discuss the challenges of transitioning to a gold-backed currency and the potential consequences of using gold as day-to-day money. The episode concludes with the speakers discussing their investment strategies and the benefits of their private member group https://phyle.co

The need for an alternative to the US dollar [00:00:16] Discussion on the reasons why the BRICS currency is necessary due to the inflation and potential collapse of the US dollar.

Challenges with a gold-backed currency [00:01:27] Exploration of the potential issues with a gold-backed currency, including concerns about storing and trusting the gold, and the manipulation of the currency.

Consequences of using the US dollar [00:02:44] Explanation of the negative consequences of using the US dollar, including the ability for the US government to manipulate and inflate the currency, and the potential for other countries to be affected by US actions.

Interest rates going higher [00:11:55] Discussion on the increasing interest rates on the national debt and its impact on the US dollar.

Challenges with the BRICS currency [00:12:29] Exploration of the reasons why the BRICS currency may not be successful, including the need for a gold-backed system and lack of trust among participating governments.

Gold as day-to-day money [00:14:21] Discussion on the potential consequences and challenges of using gold as a day-to-day currency, including the collapse of fractional reserve banking and the global economy.

Gold and silver investment opportunities [00:22:18] Discussion on the benefits of investing in gold and silver coins, as well as other investment options like oil stocks and uranium stocks.

Benefits of joining the private member group [00:23:19] Highlighting the advantages of joining the private member group, including access to specific investment recommendations and the opportunity to connect with like-minded individuals.

The importance of discerning reality [00:23:54] Emphasizing the value of being part of a community that helps individuals navigate through uncertain times and distinguish between what is real and what is not.