BRICS member nations are creating new reserve currency to challenge the dollar, Andy Schectman tells Mike Adams

09/05/2022 / By Kevin Hughes

The BRICS group made up of Brazil, Russia, India, China and South Africa are creating a new world reserve currency to challenge the dollar’s dominance.

“The biggest development of all [is that] they came out and that they are brewing up a challenge to dollar dominance by creating a new world reserve currency,” precious metals and financial expert Andy Schectman told the Health Ranger Mike Adams. “Now, they’ve come out and publicly said that.”

Russian President Vladimir Putin himself confirmed this development during the June 2022 BRICS virtual summit. “The issue of creating an international reserve currency based on a basket of currencies [from BRICS member countries] is being worked out,” he said at the time. (Related: HOW AMERICA ENDS: Putin announces new BRICS global reserve currency project to REPLACE the petrodollar.)

Schectman explained that this is a massive drive away from the U.S. dollar’s supremacy. He also expressed belief that a lot of countries will realize that they need to get on the side where commodities are traded in the world market.

According to the financial expert, the weaponization of the dollar and other decisions made by Washington, D.C. these days appear to be intentionally done to bring about a controlled demolition of the market – if not being the product of wrong choices.

He added that three BRICS member countries – India, China and Russia – are primarily engaged in trading with other nations. Meanwhile, Western nations appear to be focused on money printing, consumption and financialization – all instruments that constitute a fake gross domestic product.

Schectman explained that the dollar’s status as the world’s reserve currency was granted largely because of oil giant Saudi Arabia. The Operation of Petroleum Exporting Countries reinforced the dollar’s hegemony by selling oil around the world in the currency.

However, this infrastructure that props up the dollar’s dominance appears to be crumbling – with Riyadh itself dropping the petrodollar for the rublegas.

Real commodities are coming out of the BRICS nations

Adams, the founder of Natural News and Brighteon.com, pointed out that the real commodities are coming out of the BRICS nations. These commodities include oil, minerals, food products and fertilizer.

His guest agreed, adding that the nations comprising BRICS are all very rich in commodities. These nations are also responsible for accumulating and producing world commodities such as oil, natural gas and precious metals.

Aside from the massive drawdown of precious metals, infrastructure deals and a new world reserve currency, Russia is also proposing a new international standard for precious metal trading.

Schectman said that if Moscow gets what it wants, the new standard could break the current system and lead to a new alternative exchange system – one that does not systematically manipulate the precious metals market.

Whoever holds all the gold and silver will make the rules, he said, adding that any new rules will affect both market behavior and the dollar’s hegemony. Russia and its fellow nations in the BRICS group – the largest importers, producers and accumulators of gold and silver – are the ones that will benefit.

Head over to CurrencyReset.news for more news about the emergence of a new world reserve currency that could challenge the dollar’s dominance.

Watch the full conversation between Mike Adams and Andy Schectman about the acceleration of global de-dollarization below.

This video is from the Health Ranger Report channel on Brighteon.com.