Lions and Tigers and BRICS, Oh My!

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It doesn’t take long for the various different snake oil salesmen, snake investment salesmen out there to get a hold of a story and try to scare people into buying their trinkets and the other bullshit that they’re trying to explain is going to save you from the end of the world. And the latest thing is the bricks. The bricks, when I think of bricks, I think of brick house. No, the bricks. You know, you know the phrase bricks came from Goldman Sachs.

came up with that term but oh no now you got all the gold coin people out

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bricks are coming for you Russia and China and now Saudi Arabia and Argentina and Ethiopia and Egypt have joined what is this some sort of half-ass Legion of doom you’re frightened of Argentina and in Ethiopia and Iran people you have to think a little bit please

You have to think first and foremost, we’ve gone over this, okay, at Nauseum here. China is an economic shit show right now. It is, and they don’t have anybody, anybody close to the top in that country that knows what to do. Okay? Honestly, they don’t have a clue. They don’t.

It’s like, if all of a sudden, you know, a turbine engine was completely taken apart and they asked me to put it back together. Oh, I don’t know. I can’t do that. I mean, yeah, I can try to do my best with Google, but I don’t think that’s gonna work out too well. They don’t know, okay? They have their ideology, which has failed, okay? And they’re true believers, those people at the top.

So it’s not gonna get better, not to mention the fact that China has capital controls. Yeah, but you see how much gold reserves are buying? It doesn’t matter. They have capital controls. People are not gonna trust transactions in a currency where there are capital controls. You know, who else has capital controls? Russia has capital.

controls, you can’t have a reserve currency. You know that right now, China’s currency is used to settle transactions, 5%. World’s second largest account, 5% of the world’s transactions are done in the long run.

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You need to have certain things in place, economic freedom, investment, putting people in jail, legal, it’s not going to happen. And again, okay, they keep signing people up. It’s almost like, you know, there’s an old saying, you’re only as strong as your weakest link. So the bricks keep adding.

countries that are economic basket cases. Argentina.

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Argentina is a serial defaulter. I mean, they just, I don’t know how many times at this point that they’ve defaulted on their debt. Their currency has fallen by 98%. The guy who just won the election there wants to dollarize, wants to use the dollar instead. The Egyptian pound has fallen by 78%. The Indian rupee by 35%.

The Ethiopian, I don’t even know what the currency was, the Burr, I forgot, down by 68%, the Brazilian Rial by 55%, the Iranian Rial has collapsed by 90%.

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that you think that they’re gonna put together some sort of a new dream team there and be the new global world currency? Oh yeah, all the, you know what? You take a look at these countries and the size, you add them all up and what their GDP is for the globe. What is their GDP per capita?

Again, take a look. You want to see how rich countries are? Oh, United States, the richest country. Not really. Okay, we’re rich, wealthy country. But if you judge it by the GDP per capita, these countries are in the toilet for crying out loud. You can’t even compare.

And you think that these other currencies are, well, these other countries are gonna wanna trade in that currency? You know, what’s interesting, you know, is the fact that, we’re not taking the currency that’s been hit the most as far as transactions are concerned as of late, not the dollar, it’s actually the Euro to some degree. And again, I go back in time when we were told that, you know, the Euro coming out was kind of.

all sorts of damage to dollar whatever have fun with your bricks and your gold coins there and make sure you listen to uh has been actors on tv hey i gotta have my gold right here have at it watchdog on wall street.com