Ron Paul Liberty Report Is BRICS Coming for the U.S. Dollar A Financial Breakdown with Phillip Patrick of Birch Gold
May 16, 2025
Phillip Patrick, an economist at Birch Gold Group, shares his insights on the shifting tides in global finance. He delves into the growing concerns about the U.S. dollar's stability and the rise of shadow banking. The discussion highlights the strategic moves of BRICS nations aimed at challenging dollar supremacy. Patrick underscores historical lessons on economic collapses and emphasizes the protective role of precious metals like gold. He also addresses the importance of diversifying investments amidst increasing geopolitical tensions and national debt.
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Shadow Banking Risks and Leverage
- Shadow banking holds $250 trillion in assets with up to 100 times leverage, posing huge financial risks.
- Global financial markets are unstable, with excessive debt and leverage leading toward a tipping point.
BRICS' Dollar-Free Financial Plans
- BRICS aims to create a dollar-free international financial system through new institutions and messaging systems.
- They seek to bypass US sanctions and reduce dollar dominance, linking systems like Enbridge and BricsPay.
Gold as De-Dollarization Tool
- No new global currency is ready to replace the dollar yet, but BRICS is using gold to de-dollarize.
- Central banks' gold buying signals a weakening dollar and potential future loss of reserve currency status.