The relentless surge of inflation within the borders of the United States has initiated a profound struggle for the U.S. Dollar Index (DXY) on the global stage. In the foreseeable future, the upcoming months may present a heightened sense of challenge for the dollar, as there are indications that BRICS nations are contemplating a course of action that involves gradually removing the dollar’s influence from the global economic landscape. In considering the current situation, the esteemed author of Rich Dad Poor Dad envisions a potential outcome wherein the movement at hand could potentially result in a significant surge in the price of Gold, propelling it towards the celestial realm of the moon.
Will the U.S. Dollar Struggle to Get Ahead?
In a recent social media post, it was mentioned by Robert Kiyosaki that a considerable number of nations, approximately 41, are speculated to potentially participate in a forthcoming gathering scheduled to take place on August 22, 2023, in the region of South Africa. As suggested, the primary objective of this gathering is to form a collective alliance to challenge the dominance of the United States Dollar. In the realm of textual representation, there existed a distinct occurrence wherein the individual whose identity remains obscure undertook the act of emphasizing a particular term, namely “Gang Warfare.”
There is an expectation that a collective of nations, including but not limited to the BRICS countries (Brazil, Russia, India, China, and South Africa), may potentially collaborate to initiate the introduction of a currency commonly referred to as the “BRIC” currency. In the vast expanse of economic discourse, it has been postulated that the BRIC money, in its ethereal essence, shall find its foundation in the timeless and immutable allure of Gold. Kiyosaki has suggested that the equivalence of 1 BRIC to 1 ounce of Gold may result in a gradual increase in the value of Gold, reaching a price point of $3000. At the present moment, there exists a trading phenomenon known as Gold Spot, which is currently engaged in exchanging hands at an average price of $1972.
On a seemingly ordinary Wednesday, the U.S. Dollar found itself entangled in a web of challenges as the masses’ scrutinizing gaze fell upon the U.S. Federal Reserve’s policy decisions and Chairman Jerome Powell’s words regarding the elusive policy outlook. The USD index, a numerical representation of the dollar’s performance against a basket of six prominent currencies, appears poised to conclude the day with a notable decline, inching closer to the psychological threshold of 101.00.
About the reports circulating, a considerable number, exceeding 40, of nations have expressed interest in becoming part of the esteemed BRICS group. Following a recent update, it has been ascertained that the respected individual known as Vladamir Putin, hailing from the nation of Russia, has decided to abstain from attending the forthcoming BRICS summit. This summit, which has been meticulously scheduled to transpire from the 22nd to the 24th of August, will proceed without the presence of the individual above.