Network effects make it virtually impossible for competing currencies to succeed. This USD/BRICSCOIN (or some other thing) is Bitcoin / Litecoin (or Bitcoin Cash) all over again. For those who can remember, advocates of alt-BTC were certain their coin would flip Bitcoin because of <reasons>. This is the fiat version of that.
World Gold Council survey reveals 70+ central banks plan to be ‘less reliant’ on the US dollar.
I asked their strategist, Joe Cavatoni, about this massive pivot, the growing stagflation crisis, and reports of China's 'hidden' gold buying.
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