Russia Leads BRICS in Doubling Down on Gold to Dethrone the Dollar The BRICS nations (Brazil, Russia, India, China, and South Africa) are significantly increasing their gold reserves, making them the leading gold buyers of 2023, according to the World Gold Council. China has added 225 tons of gold, with the other member countries also making substantial purchases. This accumulation is part of a strategy to potentially back a new BRICS currency with gold, challenging the dominance of the US dollar. Russia, in particular, has announced plans to double its gold and foreign currency reserves from April 5 to May 7, 2024, as confirmed by Finance Minister Anton Siluanov. This move aligns with BRICS’ broader goal to shift away from using the US dollar for international transactions, a change that could have significant implications for the US economy. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts HSBC Predicts High Commodity Prices in 2024, Decline Expected in 2025 READ MORE Investors Hold Breath as CPI and Retail Sales Data Loom READ MORE The Scene of THE CRIME READ MORE "Quietest All-Time High For Gold Ever…But Get Ready" – Mike Maloney READ MORE ALERT: Does This Map Signal the Beginning of Nuclear Conflict? READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment