Push Against US Dollar

Countries around the world have embarked on an irreversible agenda to divorce from the US dollar, according to veteran investment guru Matthew Piepenburg.

In a new interview at the Deutsche Goldmesse conference with the Soar Financially YouTube channel, Piepenburg, partner at emerging markets-focused Matterhorn Asset Management, says that economic powerhouses are now clearly attempting to “break ranks” with dollar supremacy.

He says that the raising of interest rates by the U.S. Federal Reserve is pushing nations like China and Russia to adopt settlement systems that don’t rely on USD.

Besides China and Russia, which are both part of the BRICS coalition, the family office guru says that 41 other countries are now following suit, perhaps concerned with the way the US has treated Russia during its conflict with Ukraine.

“So when that dollar gets higher, because Powell is raising the rates, that becomes more onerous and painful for the rest of the world and they begin to break ranks. Asia in general, China and Russia in particular are very big rank-breaking nations. And, of course, they’re bringing 41 other countries alongside to have trade settlements outside the US dollar.

And so there’s no doubt that the weaponization of the dollar, even the petrodollar comes into this because there’s threats to the petrodollar market and the demand of the petrodollar and the strong dollar. So a strong dollar was a real gut punch for years it became even more of a gut punch when we weaponized that dollar when we took Russia off of the STR and the SWIFT and of course froze its FX reserves. Other countries raise their eyebrows in alarm and looked differently in our thinking of ways to go around and break with the dollar.”   READ MORE...

Will BRICS be Successful?

Veteran investor Jon Wolfenbarger says that the success of BRICS could have serious effects on the US dollar and the living standards of Americans.

Wolfenbarger, a former investment banker at JPMorgan and Allianz, writes in a new article for the Mises Institute that throughout history, all empires have ultimately failed, and the US likely won’t be an exception.

He says that BRICS nations, which refers to the economic coalition of Brazil, Russia, India, China and South Africa, now have the power to dethrone the US after decades of irresponsible economic policy by the American government.

Says Wolfenbarger,

“If the BRICS are successful and the US does not change its policies to focus on a stronger dollar, less spending, and peace instead of war, it is possible the dollar will slowly lose its ‘reserve currency’ status.

This would hurt US living standards and lead to less power for the US government, similar to the weakening of the UK after World War II. All empires in history have failed, and the US will not likely be an exception – if the BRICS can create a successful hard currency to compete with the dollar.”

The investor, who founded investment research service Bull And Bear Profits, says that BRICS nations still have a big hill to climb if they’re serious about competing with the greenback.

According to Wolfenbarger, the BRICS can forget about taking the USD’s hegemony if it plans on creating another fiat currency that is created out of thin air.

“The US has the largest and safest government bond market, no capital controls, and a reputation for enforcing the rule of law. By contrast, the BRICS countries are hardly known for respecting laws or having strong currencies.

Perhaps more importantly, non-US entities have $12 trillion of US dollar-denominated debt that they need to pay back with dollars, so abandoning the dollar would be incredibly difficult and costly.”

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BRICS Nations Buying Gold

A group of economically-aligned nations are purchasing massive amounts of gold as they prepare to end their reliance on the U.S. dollar.

According to a new report from U.S. Global Investors, the nations known collectively as BRICS are piling into the precious metal and will continue to be “huge buyers” of gold for the foreseeable future.


The firm’s CEO and chief investment officer, Frank Holmes, says the mass accumulation of gold led by China aligns with the theory that the world is on a long-term path to economic bifurcation.

“If you look back at the list of net buyers [of gold], you’ll notice that three are members of the BRICS (Brazil, Russia, India, China and South Africa) countries. I point this out because, as I’ve been sharing with you for a couple of weeks now, we may be seeing the emergence of a multipolar world, with a U.S.-centric world on one side and a China-centric world on the other.

For the first time ever, BRICS countries’ share of the global economy has surpassed that of the G7 nations (Canada, France, Germany, Italy, Japan, the U.K. and U.S.), on a purchasing parity basis.”

According to a report from World Gold Council, China has added 102 tons of gold to its stockpiles since the start of the year.

And gold is the key to this potential multipolar economic future, says Holmes, as it will likely be used to back the creation of a new currency that does not utilize USD.

“The BRICS need the precious metal to support their currencies and shift away from the U.S. dollar, which has served as the global foreign reserve currency for about a century.

More and more global trade is now being conducted in the Chinese yuan, and there are reports that the BRICS—which could eventually include other important emerging economies such as Saudi Arabia, Iran and more—are developing their own medium for payments.”

BRICS nations are reportedly in the early stages of designing a new currency that aims to end global dependence on the dollar.

It remains to be seen just how effective their efforts will be, with early critics like billionaire Chamath Palihapitiya stating the China will never effectively de-dollarize as long as the yuan remains pegged to the dollar.

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Fed Coin Tracks Everyone

Rich Dad Poor Dad author Robert Kiyosaki warns that George Orwell’s novel 1984 could quickly become a reality when the US goes ahead with launching a central bank digital currency (CBDC).

In a new episode of The Rich Dad Channel, Kiyosaki says that a “FedCoin,” or a Federal Reserve-issued CBDC, will allow the authorities to become omnipresent and surveil Americans’ every move to make sure they are behaving.

“The big concern with FedCoin, the CBDC, is that we lose our privacy. That they’ll track us, they’ll track every move because they’ll know everything we’re spending money on, what we spend it on, who we give it to and all these, so it becomes George Orwell’s 1984. Big Brother will watch you via our money and that’s the problem with the central bank digital currency, or the Fed Coin…

People like me panic. I said, ‘Oh my God, they’re gonna track me. I don’t want them to know how I’m spending my money. it’s none of their business.’

But now with blockchain and all this, they can track anything they want, so our privacy goes. That’s why when George Gammon says Orwellian, he’s talking about 1984. Big Brother’s going to watch you. That’s where we’re heading.”

Kiyosaki’s comments come as the Federal Reserve explores the benefits and risks of a CBDC. During a speech on Tuesday, Federal Reserve Governor Michelle Bowman says the potential digital dollar should incorporate privacy considerations into its design. She says there should be proper measures to safeguard the privacy of businesses and individuals.

Says Bowman,
“In thinking about the implications of CBDC and privacy, we must also consider the central role that money plays in our daily lives, and the risk that a CBDC would provide not only a window into, but potentially an impediment to, the freedom Americans enjoy in choosing how money and resources are used and invested.”  READ MORE...