bullish
Weekly Stock Bullfinder - Week of 4/3
SUMMARY
- While other market narratives are swirling including inflation trends, regional bank contagion risks, and Fed Chair Powell’s next move, not enough attention is getting paid to background maneuvering by China and Russia and other “BRIC” alliance members to attempt to slowly erode and undermine the role of the US dollar in the global financial system.
- BRICS stands for the group of five nations: Brazil, Russia, India, China, and South Africa, with poised expansion via rumored applications from Saudi Arabia, Turkey, and Egypt.
- President Nixon took the U.S. dollar off the gold standard in 1971 – the end of the era of commodity-based money and replaced it with “inside money” or Treasuries which removed the limit on the amount of currency that could be printed.
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