August 22 a major NEW WORLD Currency

On Aug. 22, about 2½ months from today, the most significant development in international finance since 1971 will be unveiled.

It involves the rollout of a major new currency that could weaken the role of the dollar in global payments and ultimately displace the U.S. dollar as the leading payment currency and reserve currency.

It could happen in just a few years.

The process by which this will happen is unprecedented, and the world is unprepared for this geopolitical shock wave.

This monetary shock will be delivered by a group called the BRICS. …

There are currently eight nations that have formally applied for membership and 17 others that have expressed interest in joining. The eight formal applicants are: Algeria, Argentina, Bahrain, Egypt, Indonesia, Iran, Saudi Arabia and the United Arab Emirates.

The 17 countries that have expressed interest are: Afghanistan, Bangladesh, Belarus, Kazakhstan, Mexico, Nicaragua, Nigeria, Pakistan, Senegal, Sudan, Syria, Thailand, Tunisia, Turkey, Uruguay, Venezuela and Zimbabwe. …

The BRICS+ present a realistic effort to de-dollarize global payments and eventually global reserves.

For years, I’ve argued that the [USA] dollar would remain the world’s leading reserve currency for longer than most people think.

But … a new BRICS+ currency could greatly accelerate the demise of the [USA] dollar as the world’s leading reserve currency. …

The [new] currency will be pegged to a basket of commodities for use in trade among members. Initially, the BRICS+ commodity basket would include oil, wheat, copper and other essential goods traded globally in specified quantities.

In all likelihood, the new BRICS+ currency would not be available in the form of paper notes for use in everyday transactions. It would be a digital currency on a permissioned ledger maintained by a new BRICS+ financial institution with encrypted message traffic to record payments due or owing by participating parties.  …

Based on the impracticality of commodity baskets as uniform stores of value, it appears likely that the new BRICS+ currency will be linked to a weight of gold. …

the BRICS+ currency offers the opportunity to leapfrog the [USA] Treasury market and create a deep, liquid bond market that could challenge [USA] Treasuries on the world stage almost from thin air.

The key is to create a BRICS+ currency bond market in 20 or more countries at once, relying on retail investors in each country to buy the [NON USA] bonds. https://dailyreckoning.com/rickards-drops-bombshell/