The Biggest Monetary Shock in 52 Years

June 21, 2023

by James Rickards Daily Reckoning

I recently revealed that the so-called “BRICS+” countries will announce the creation of a new currency at its annual leaders’ summit conference on August 22–24.

This will be the biggest upheaval in international finance since 1971. It’s taking direct aim at the dollar.

Quite simply, the world is unprepared for this geopolitical shock wave.

It appears likely that the new BRICS+ currency will be linked to a weight of gold. This plays to the strengths of BRICS members Russia and China. These countries are the two largest gold producers in the world, and are ranked sixth and seventh respectively among the 100 nations with gold reserves.