Hit the BRICS

The BRICS Nations summit has produced a strategy to devalue the US Dollar. Could run gold to over $100k/oz. crushing the buck to destroy our economy.
Your thoughts gentlemen and
https://www.kitco.com/news/article/...precious-metals-exchange-become-key-regulator
https://www.ccn.com/news/business/brics-summit-currency-talks-gold-silver-soar/

 

Log in or Sign up to hide this ad.

Baloney.

 

They and the EU have had that wet dream for years.

 

It's possible BRICS could weaponize Metals against the US financial markets. With silver Prices rising just $2 in one trading day The 5 top US banks shorting silver suffered a combined loss of over 1 Billion dollars. Just from a $2 price increase in the silver market.

https://m.jpost.com/business-and-in...udratf9atleflus5wg_aem_eroyhmrqsukvnds252rnqw

 

According to recent reports, the five US banks most prominently shorting silver currently are: JPMorgan Chase, Citigroup, Goldman Sachs, Bank of America, and Wells Fargo;

 

I am sure that the debt, and a fault on or debt not long ago combined with over printing, inflation and a stagnant economy only help these Brics nations towards their goals.

 

As more and more countries join BRICS they will control more and more of the global resources, energy, commodities etc. Once they control the majority of these global resources ...........

 

Baloney.

 

All that and more. Silver is a crucial component of military and commercial products. Not just the shiny trinkets we so enjoy.
Already in global supply deficit for 3 years, we see silver spot going straight up. Our old coins being melted at an accelerated rate to cover that deficit. The US mines only 50% of our current demand.
Not if but when the BRICS withdraw from our game, supply/demand will tell the tale.
Hold everything, sell only if forced.

 

I have read many different angles. All of them point in the same direction, and that is that Bricks is getting stronger, I certainly wouldn't Balk at a fluctuation in Prescious metals. This always happens when there is uncertainty in the world.

 

People have been calling for the death of the dollar ever since Tricky took us off the gold standard. I've been expecting it since the 80's. It just never seems to get here. I'll believe it when I see it.

IMO, blocking the Russians from SWIFT is why there is so much momentum behind BRICS now. The incentive is to get away from SWIFT and the USD before they are next on the puck list. I hear BRICS even has a prototype currency denominated in 100 Brics.

Hey, I'm fine with 150k gold. Silver will probably be 2 or 3k. I'll be wealthy even with my meager silver holdings. Unless it costs 60k for a haircut.

 

That silver ploy didn't work out for Nelson and Bunkie Hunt!

 

Yes, we need to watch the BRICS but how many folks or countries are rushing out to by Yuan, Rouble or Rupee backed bonds / securities. Nigeria just offered dollar backed bonds because their own currency is struggling.

Gold will be nowhere close to 100K - if it is, food, guns and ammo will actually be more valuable.

 

Well said if not for chips and manufacturing silver would drop like a rock ! Follow history

 

If it's food gold and guns I'm good !!!!! last two for me and wife not a slave!

 

Those five banks have combined assets of, what, ten trillion dollars? Their combined net (not gross) annual income is somewhere around $120 billion. They'll live.

 

Nobody said they wouldn't survive.
I was just making a point that these banks shorted an obscene amount of silver. What they paper traded is equal to an entire year of global silver output/supply (over a billion ounces) What they shorted doesn't exist on all the exchanges put together lol. It's how they controll the price of Metals. It's criminal and one day hopefully soon, it will end.

 

It will not end through legislation or through the judiciary. It will only end when the disclosure on their balance sheet and income statement reveal to their investors that they were wanton in their choice of investment vehicle and their extreme exposure to one incredibly high leverage commodity investment.

 

It’s not criminal. It’s how the world works. edited