Multiple countries have been talking about “dropping the American dollar,” so what does that really mean for America?
The U.S. dollar currently stands as the world’s reserve currency, but BRICS is looking to challenge that and increase their economic sovereignty. This is not their first attempt, however, this time BRICS is receiving enough global interest to potentially make their goal a reality.
BRICS is an acronym for the five original countries that made up the economic summit (Brazil, Russia, India, China and South Africa). The group was formed in 2006 and had their first official summit in 2009. There have been recent talks about BRICS unveiling their economic alliance currency (most likely will be called “the unit“). Last month, Russian President Vladimir Putin confirmed that Russia and its allies were discussing the creation of a new currency, but has yet to divulge any meaningful details. It is rumored that over 30 countries have expressed interest in the new currency.
The American dollar is no longer backed by gold (we will get into that in a moment). Reports have suggested the potential new BRICS currency will be 40% backed by gold and 60% backed by reserves in member currencies. Reserve banks across the globe have added large amounts of gold to their coffers in recent years, further fueling speculation of a new gold-backed currency. Gold prices have risen exponentially in 2024 and is currently trading at about $2,600 an ounce.
What if I told you that America has been bankrupt since 1933 thanks to Franklin D. Roosevelt’s House Joint Resolution 192?
It is an established fact that the United States Federal Government has been dissolved by the Emergency Banking Act, March 9, 1933 (48 Stat. 1, Public Law 89-719), declared by President Roosevelt, being bankrupt and insolvent.
H.J.R. 192 (73rd Congress session June 5, 1933) – Joint Resolution to suspend the Gold Standard and abrogate the gold clause – dissolved the Sovereign Authority of the United States.
The receivers of the United States bankruptcy are the International Bankers via the United Nations, the World Bank and the International Monetary Fund. When the United States was founded, gold and silver were so powerful that the founding fathers declared only gold or silver coins can be “money” in America. Since gold and silver coins were so heavy and inconvenient for most transactions, they were stored in banks and a “claim check” was issued as a money substitute or currency.
Be sure to take note… Currency is not money but a money substitute.
Redeemable currency must promise to pay a dollar amount equivalent in gold or silver money. Federal Reserve Notes (FRN’s or cash) make no such promises because they are NOT money! A Federal Reserve Note is actually a debt obligation to the the federal United States government since Congress has never been authorized by the Constitution to issue currency of any kind, but only lawful money (gold and silver coin).
The American dollar is not back by gold, silver or anything for that matter and they just keep printing more and more money everyday. This is the reason for inflation.
Inflation is an invisible form of taxation that irresponsible governments inflict on their citizens. ~ David Robinson (Commercial Law Applied)
I could go on and on about this topic, but I wanted to give you guys just a little information so you can start going down the rabbit hole and find out all the fraud our government is committing right up under our nose. The author and book I mentioned above is a great place to start! BRICS might be on to something, but I don’t think I really want to find out. Why trade with a country whose currency is literally backed by nothing? What are your thoughts? Let’s talk about it.
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This was a great read—full of useful information.
I appreciate the practical advice you’ve shared here.