President-elect Donald Trump has threatened to slap a 100 percent tariff on the economies of BRICS nations if they try to abandon the U.S. dollar as the chief international reserve currency, prompting speculation among economic observers.
“The idea that the BRICS countries are trying to move away from the dollar while we stand by and watch is over,” Trump wrote in a Nov. 30 Truth Social post.
BRICS—a nine-nation alliance of Brazil, China, Egypt, Ethiopia, India, Iran, Russia, South Africa, and the United Arab Emirates—has been at the forefront of the de-dollarization initiative in recent years.
The global campaign to shift away from the greenback generated significant momentum following Moscow’s invasion of Ukraine.
Officials from these countries have been employing measures to reduce their reliance on the buck.
In addition to engaging in bilateral trade settled in local currencies, there has been years-long speculation that the bloc would establish a new reserve currency to rival the dollar.
If the BRICS nations followed through on using a basket of currencies—tossing the ruble, yuan, rupee, and real into a big bowl and creating one uniform currency—it would not affect the dollar, economist Peter St Onge said.
Internal BRICS trade accounts for a little more than 1 percent of global trade, and the group’s share of worldwide reserves is approximately 5 percent.
By comparison, according to data from the International Monetary Fund (IMF), the U.S. dollar still represents approximately 60 percent of foreign exchange reserves. The next closest is the euro, accounting for fewer than one-fifth of global reserves. […]
— Read More: www.zerohedge.com
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
