The Inside of BRICS: Gold Currency & De-Dollarization – by Taylor Kenney
Peek Beneath the Skin of the Markets Jul 17, 2023
Hi, everyone. I’m Taylor Kenney with ITM Trading. And today we’re going back to basics on who and what BRICS is and how it affects you. In 2001, chief economist of Goldman Sachs, Jim O’Neill, coined the acronym BRICS, which stood for Brazil, Russia, India and China. He created the term to describe the countries that have the fastest growing economies who he thought would dominate the global economy by 2050. It made sense for these countries to work together. And in 2009, the leaders of these countries got together in their first ever summit, and thus a true coalition was born.
CHAPTERS:
0:00 What is BRICS
1:39 Holding Power
4:15 BRICS has Power
5:33 Saudi Arabia
7:54 What’s Next?
8:20 Gold?
