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Russia Accumulates Gold: BRIC Nations Sense Age of the Dollar is Toast

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As you know, Russia, India, China and some of the BRIC-like countries will continue to push hard for a gold and silver content in the new formulation of the SDR this year. The US and UK are vehemently opposed. Europe is still wallowing in confusion and is virtually leaderless, as the most recent financial crisis in Greece shows. This may not be all bad, because it highlights the weaknesses in their union, and gives them the incentive to take it to the next step. One cannot have a common currency with uncommon fiscal policies and laws. While there is some room for discretion, it is sorely tried in changing economic conditions and social attitudes. America went through a bloody Civil War for this reason. This is why a one world currency, except for international trade only and at the discretion of trading partners, is so dangerous. One cannot maintain their sovereign freedom when someone else controls the supply of their money: either you cheat or you submit. All serious economists understand this; too few of the voting public do.

1 Comments in Response to

Comment by Found Zero
Entered on:

OK so we had the PIGS which recently became the PIIGS and now we got the BRICs and R is for Russia and I for India and C for China so that leaves the B.

Don't tell me, let me guess. Botswana? Bealrus? Belgium? Brittish Columbia? They are closer to China than they are to New York I think. They can pratcially see them from their back yard! People on the Pacific coast got wicked good eye sight.

Belieze? Burkina-faso? Burma? Bhutan? Barbary Coast pirates? Could it be another red incursion into South America with Bolivia or even Brazil which could just change names and become "The Land Of The B And The Home Of The Rave"?

I give up. Somebody tell me who the B is.

How about we take somebody else's name and put a B on the front of it like Bluxembourg?

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