Andy Schectman Reports BRICS’ Gold Reserves Grow Alarmingly – Final Warning

by | May 13, 2023 | Gold IRA

Andy Schectman Reports BRICS’ Gold Reserves Grow Alarmingly – Final Warning




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BRICS, the emerging markets group composed of Brazil, Russia, India, China, and South Africa, have been quietly amassing huge gold reserves in recent years. According to Andy Schectman, CEO of precious metals dealer Miles Franklin, this trend poses a serious threat to the Western world’s financial domination.

Schectman notes that BRICS countries have been significantly increasing their gold purchases over the past decade. In 2019 alone, they bought 654 tonnes, accounting for 86% of the world’s total central bank gold purchases. Russia has been the most aggressive, increasing its gold reserves by nearly 30% since 2015.

Why the sudden interest in gold? Schectman explains that BRICS countries are hedging against a potential global economic crisis and a loss of confidence in the US dollar. With the ongoing trade war between the US and China, as well as political instability in other parts of the world, BRICS countries are seeking to reduce their dependence on the US dollar as a reserve currency. Gold, which has been a reliable store of value for centuries, is an attractive alternative.

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Schectman warns that the accumulation of massive gold reserves by BRICS countries is a sign of major geopolitical and financial shifts. He argues that it is essential for Western countries to take this trend seriously and begin diversifying their own reserves away from the US dollar. Failure to do so could result in a significant loss of power and influence for the West.

The rise of BRICS as major global players has been a growing concern for Western nations, and the amassing of gold is just one example of their assertiveness. As these emerging markets continue to accumulate wealth, they will seek to challenge Western dominance in the global financial system. The West must respond strategically and proactively to this change in the balance of power.

In conclusion, the trend of BRICS countries amassing huge gold reserves is a clear warning sign for the West. It is imperative that Western nations diversify their reserves away from the US dollar and begin to take BRICS seriously as major players in the global financial system. Failure to do so could result in a significant loss of power and influence for the West.

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