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This is a powerful statement!
In Putin's virtual address the day prior, he emphasized that de-dollarization is "gaining momentum". He said the dollar's receding global centrality is an "objective and irreversible" process. The BRICS nations have now surpassed the G7 in Global GDP--31% to 30%. The pendulum of global power has shifted.
https://t.co/Ds5aEnXKQQ
Remarkable week on a global scale. BRICS' expansion to include Argentina, Ethiopia, Iran, Saudi Arabia, Egypt, and the United Arab Emirates signals a significant shift. These nations are collectively challenging the dollar's dominance. Watch the allure of gold and silver rise.
It's intriguing to consider the impact on precious metals investing. As geopolitical dynamics evolve, the allure of assets like gold and silver as safe havens rise. The China-Iran deal's influence on the precious metals market adds another layer to this unfolding narrative.
This week lived up to the hype as transformational and historic.
A new global paradigm is unfolding before us.
Argentina
Ethiopia
Iran
Saudi Arabia
Egypt
United Arab Emirates
All added to BRICS.
Other phases will follow concerning expansion.
BRICS nations are clearly aiming to challenge the dollar's dominance in oil and gas trade.
A notable development in 2021 was China's agreement to invest $400 billion into Iran over 25 years, in a deal that ensured them a steady flow of discounted Iranian oil.
More on this next week.
@MilesFranklinCo A notable sign of this potential shift can be seen in India's decision to diversify its foreign exchange reserves away from the dollar.
Whether you're a newbie or a seasoned pro, the world of #gold and #silver investments is waiting to be explored. When did you start investing in #preciousmetals ?
India's decision to diversify its reserves away from the USD shows a bigger trend – countries want to rely less on just one currency. What are your thoughts on the future of the #USDollar.
#preciousmetals#GOLD#silver