Elite US economist warns: dollar system is weakening as gold BRICS rise from Geopolitical Economy Report

Geopolitical Economy Report

Ben Norton

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Elite US economist warns: dollar system is weakening as gold BRICS rise

28 minutes Posted Oct 22, 2024 at 12:56 pm.

Western media cope on de-dollarization

Renowned US economist warns de-dollarization is happening

Gold price rises despite inflation falling

BRICS seeks alternatives to US dollar dominance

Sanctions, reserves freezes, weaponization of US dollar system

Holding gold in reserves is not bringing back gold standard

Central banks buy lots of gold

West's economic war on Russia failed

US-Israel wars in Middle East (West Asia)

"Erosion" of US dollar hegemony

US government debt and Treasury market

USA now spends more on debt interest than military

China dumps US Treasury securities

Europe, Canada, Taiwan buy US Treasury bonds

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The US dollar is gradually losing its dominance, and foreign central banks are buying fewer Treasury securities, instead holding more gold in their reserves, warns Mohamed El-Erian, a mainstream American economist. Ben Norton discusses how countries are seeking financial alternatives, especially Global South nations around BRICS.

VIDEO: https://www.youtube.com/watch?v=KnMAit5MP-Y

BRICS plans ‘multi-currency system’ to challenge US dollar dominance: Understanding Russia’s proposal - https://geopoliticaleconomy.com/2024/10/19/brics-russia-multi-currency-system-us-dollar/

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