Here's a perspective on the USD as the Global Reserve Currency...

Here's a perspective on the USD as the Global Reserve Currency for all of those who think BRICS is ascendant. What indicators are needed to maintain and retain TRUST.

Notice how the BRICS contingent are all to the far right with Russia and India being poorly equipped. China's woes currently (hence the RMB issues and Gold purchases) is related to a lack of capital flow, a poor domestic economy, poor capital markets. Not exactly what is needed to transacted globally in a BRICS currency or similar.

So, there are outflows in GOLD ETFs (or Silver) in the West and inflows in the East. Why? If we take a look at Rome or Britain, the time takes for a great power to subside is multiple decades. The gold bug community thinks it will all happen overnight somehow, but the RMB has made very little inroads in terms of International Reserves.

In summary, don't believe all the doom and gloom about the USD and the inevitable and quick move to Gold as a replacement. Physically, its cumbersome to move around, secondly none has trust in RMB and certainly not in Rubles or Rupees as indicated by the 2nd chart. Its a fantasy!

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https://www.atlanticcouncil.org/programs/geoeconomics-center/dollar-dominance-monitor/