[Inside Wall Street with Nomi Prins]( âDeath of the Dollarâ Isnât Just Hype Anymore By Nomi Prins, Editor, Inside Wall Street with Nomi Prins At one point, hype over the “death of the U.S. dollar” for international trade and services was seen as niche financial chatter. Today, it seems only a matter of time – not until the dollar is gone, but until a competitive currency emerges to challenge it. If you’re a paid-up Distortion Report reader, I first put this trend on your radar in our August 23 issue. The BRICS 2023 Summit was in full swing as we went to press. In the issue, I wrote that: One primary topic for discussion at the 2023 Summit is a possible expansion of the BRICS to include additional countries. The next day, the BRICS announced six new member countries. [As I’ve been writing]( it’s all part of the BRICS’ plan to challenge Western dominance. And that could have big implications for your wealth. Recommended Link [The One Ticker Retirement Plan]( Over the Shoulder Demo Now Available [image]( Market Wizard Larry Benedict crushed the market in 2022. But he didn't do it with a “traditional” method… For a limited time, he’s sharing a free over-the-shoulder “demo” of his strategy in action. It takes less than 10 seconds… [Watch it here.](
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Competition for the West As you might know, BRICS stands for Brazil, Russia, India, China, and South Africa. The bloc will now also include Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United Arab Emirates (UAE). The BRICS expansion is set to become official in January 2024. And it’s a big deal for two reasons. First, because three of those countries are among the largest oil producers in the world. Second, it sets the stage for more dynamic economic opposition to entrenched international organizations like the G20 and the International Monetary Fund (IMF). That’s because, as those organizations struggle to remain unified geopolitically, other international entities are lining up to challenge their global economic influence. China and Russia in particular have emphasized a New World Order… One that competes against or at least counterbalances Western interests. And one major way they’re looking to level the global playing field is by reducing dependence on the U.S. dollar. That’s where this expansion of the BRICS comes into play. By adding three of the largest oil producers in the world, the group is positioning itself to take on a major sector in global trade: oil exporters. In particular, Saudi Arabia’s economy stands to gain from oil demand from the BRICS+ bloc. That’s because, as this de-dollarization shift starts to take hold… Or if other BRICS members look to the Saudis for trade alliances outside of oil… Buying oil in alternative currencies to the dollar could diffuse some of the might that the petrodollar system has enjoyed since the 1970s. Recommended Link [WARNING:
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A “New Era” If you’ve followed the BRICS’ history, this move will come as no surprise. Energy has long been a focus of the BRICS and its bank, the New Development Bank (NDB). Each BRICS country appoints one leader to form the body that runs the NDB. In my research travels, I had the opportunity to meet with leaders at the NDB. In Shanghai, I had an exclusive meeting with the first leader from Brazil, Paulo Batista. He was instrumental in creating the NDB. Batista told me early on that the NDB was working on issuing infrastructure bonds to build, develop, and support BRICS economies and energy transition projects. [Chart] Nomi meets with Brazil’s first NDB leader, Paulo Batista The move was groundbreaking because it was not backed by the U.S., Europe, or any major Western economy. It was backed by China, as I wrote in my book Collusion. It was a precursor to current conversations about a joint BRICS+ currency. And indeed, the NDB has issued bonds, including green energy bonds, since. As of July 2023, the NDB has issued an estimated $33 billion in financing, mainly within the borders of the BRICS founders, for mostly energy-related projects. And Saudi Arabia, the world’s second-largest oil producer, is in talks to become the NDB’s ninth member. Toward the end of 2022, China’s Xi Jinping called it a “new era” between his country and the Saudi Kingdom. And in March, Beijing began acting as a mediator for talks between the Saudi Arabian government and Iran. If and when Saudi Arabia becomes a member, the NDB could become a true rival of the IMF and the World Bank in the global development bank arena. That move would offer the NDB, BRICS participants, and general non-Western powers an outlet to decouple from U.S. influence. This is important to them strategically as Russia remains under Western sanctions. And it would provide an outlet for cross-border energy supply chains, and cross-border payments, to exist beyond Western influence. It could even set the groundwork for a petro-BRICS type of currency. Recommended Link [PhD Economist Makes Terrifying 2024 Prediction]( [image]( She’s on a first-name basis with officials at the Federal Reserve… The World Bank… And the IMF… But today, she’s breaking all the rules. As you’ll soon see, [her latest findings]( could be the biggest discovery since she walked away from her 15-year career on Wall Street. A blockbuster story coming to light. Deemed too 'DANGEROUS' for the U.S. Congress to hear… And ignored by CNN, FOX, CNBC, and BBC – Today, Dr. Nomi Prins – a former investment banker turned industry whistleblower – is being interviewed to expose [the shocking truth]( about the U.S. economy. She says: “We’re about to hit America’s ‘Breaking Point.’ The harsh reality is, the financial system is breaking. And breaking fast.” But according to Nomi, popular concerns from inflation… to a recession may be the least of your concerns in the weeks ahead. Because, according to her research, something far more sinister is on the horizon… [Click here to uncover the truth.](
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Just the Start of This Power Struggle To be clear, a decisive global shift away from the dollar is not going to happen overnight or even in the near term. And, if a BRICS currency does emerge, it won’t be a currency for everyday transactions. Instead, it could be used for country-to-country transactions in instances of loans or infrastructure development bonds. But this is a big step. It’s a big step towards reducing U.S. dollar influence in energy and energy-related trade. And it could reshape how the world uses the dollar for trade and private international banking – perhaps faster than many might think. The simple fact is, the BRICS are looking to expand the NDB and the coverage it has as a development bank. And the power struggle between BRICS countries against Western alliances is only beginning. By understanding the dynamics at play, you can position yourself to capitalize on this moment and the months ahead. Regards, [signature] Nomi Prins
Editor, Inside Wall Street with Nomi Prins P.S. As I said above, the BRICS are working to challenge the U.S. dollar. But they’re not the only ones… The Federal Reserve, the White House, and the financial elite are set to enact the [biggest change to our money since 1971](. I’ve found evidence that they’re colluding to virtually “ban” cash – leading to the end of the dollar as we know it. But there’s one asset that can help you become your own banker and escape the clutches of this power grab. [Click here to learn more](. --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: Inside Wall Street Feedback). MAILBAG What do you think of the BRICSâ recently announced expansion? Can the U.S. keep competing with some of the largest oil-producing nations in the world? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: Inside Wall Street Feedback). IN CASE YOU MISSED IT… [Shame on Wall Street!]( Shame on Wall Street! They’ve collected an estimated $17 billion in payouts from a unique investment Brad Thomas calls “Amazon’s secret royalty program…” But they never told you. In fact, you won’t find it listed anywhere on Amazon’s website… Because this is not endorsed by Amazon at all. Yet, by exploiting an IRS loophole (buried on page 1,794 of the U.S. tax code)… A small group of regular Americans have discovered how to collect consistent payouts from opportunities like this. “Started from a zero balance... Just hit $1,200 a month in [royalties].” – Neil P. “Increased my [royalties] to over $30,000 last year.” – Tom K. “Increased my [royalties] from about $2,000 to $60,000…” – Elaine T. If you want to participate, click the link below for details. The next payout deadline is scheduled for September 14th. [HURRY: Learn How YOU Can Collect the Next Payout by September 14th.]( *Verified review. Past performance does not guarantee future results. [image]( [Rogue Economincs]( Rogue Economics
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