Something is brewing behind the scenes in the global financial system. BIG changes are coming
that will challenge US dollar dominance across this earth. Countries are fleeing
USD & these countries who have decided to step away from greenbacks have a critical ally that
will make this transition that much easier. That ally is Bitcoin. What is going on & who
are the countries…well find out in about ten minutes….because it’s time for Chico Crypto!!
The US dollar has dominated for so many years is a complex subject that revolves around a certain
black gold called OIL. But the protection of US dollar hegemony is a product of the
alliances the United States has created across the globe. Protection through economics comes
from alliance groups like the G7….and protection by force comes from military groups like NATO….
Well a new group is on the block whose goal is to challenge the United States and its currency,
the US dollar. This is the BRICS alliance, which is a strategic group of leading
emerging economies consisting of Brazil, Russia, India, China and South Africa.
And would you look at this, just last month, it was reported that the BRICS
countries have overtaken the G7 in GDP based on PPPs or Purchasing Power Parities.
PPPs are the rates of currency conversion that equalize the purchasing power of different
currencies by eliminating the differences in price levels between countries. AKA this
is a measurement of the price of specific goods in different countries and is used
to compare the absolute purchasing power of the countries' currencies.
The IMF data on GDP based on Purchasing Power Parity since 1982, reveals a steady decline in
the share of the G7 in global GDP, and an equal steady rise in contributions of BRICS nations,
with the BRICS now surpassing the G7 and the outlook into the future
see’s the G7 falling even further, while BRICS just keeps on rising.
And Brics isn’t just rising against the G7, it’s growing rapidly in the number
of countries choosing to join the alliance. It used to just be called BRIC, but in 2010,
South Africa joined and turned it into BRICS.
Well since 2010, no other country has joined the alliance…but that is about
to change rapidly. Just ahead of their annual summit in June,
it has been reported that 19 new countries are interested in joining BRICS.
The bloomberg article on this states “Saudi Arabia and Iran are among the countries who’ve
formally asked to join, Other countries that have expressed interest in joining include
Argentina, the United Arab Emirates, Algeria, Egypt, Bahrain and Indonesia,
along with two nations from East Africa and one from West Africa — which weren’t identified….YET!
Now earlier this month, it was also announced that BRICS was working on creating their own currency,
and the article on this states “According to reports quoting Russian lawmaker Alexander
Babakov, the BRICS nations are in the process of creating a new medium for
payments - established on a strategy that "does not defend the dollar or euro"...
Yup, they are moving swiftly away from the dollar…but what is this new
currency going to be? A CBDC? Well in my opinion, most likely…but what will
this CBDC be backed by? What if I told you it could end it up being BITCOIN!!!
6 months ago, I knew something was brewing with the BRICS nations and
BTC when I dropped this video..these countries are going all in on Bitcoin
(New World Reserve Currency)...where I dove deep into this possibility…
Now I know many of you watching at home will say: “your crazy Chico….didn’t you know China has
banned Bitcoin??”...they aren’t going to allow this…they want their Yuan to be the currency…
HAHAHAHAHAHAH….my friends, Bitcoin is China’s ally in their fight against the
dollar…they love Bitcoin and want it to flourish far and wide across this globe.
Do you remember back in September of 2021 when China banned Bitcoin and crypto mining?? The
markets fell off a cliff and everyone and their mother believed that it was true.
I was the first and only youtuber to call it a fakeout, showing in a video that the proof
circulating was a bunch of BS. Some of the images of mining facilities being torn down,
were old mining rigs, or just plain were images being reused…it was a facade….a ruse.
People didn’t believe me until the Cambridge Center for alternative finance,
who tracks BTC mining, put out their 2021 report on BTC mining,
and despite the ban, they found out that China was #2 to the USA for BTC mining,
China never banned BTC mining, nor will they ever. China needs to have the United States believe they
do not like Bitcoin. If the US feels like China and Bitcoin are working against the US dollar,
the US would swiftly move to ban BTC as that would be an overwhelming force against dollar hegemony.
The same can be said about Russia…in June of last year it was reported that Russia was banning
crypto for payments. Well just last week it was reported that Russia was planning to mine crypto,
for cross border deals due to them being banned from traditional payment rails like
SWIFT. The Coindesk article on this stated “ The Bank of Russia is working on a bill that
will introduce an “experimental legal regime” for cryptocurrencies to be used
exclusively in export-import deals. The country’s government is also working on
a bill that will create a national agency to license and supervise cryptocurrency
platforms operating in Russia” and then Cointelegraph reported earlier this year
that the Russian Government was subsidizing a crypto mining facility within the nation…
And then throughout 2023, based on preliminary mining data,
it is being reported from Russian media outlets that Russia is the 2nd biggest
mining nation for cryptocurrencies, overtaking China, and just behind the United States…
What about the other BRICS nations?? Like Brazil and South Africa?? Well Brazil
is going deep into bitcoin. They even have a Bitcoin Beach within the nation,
called none other than “Praia Bitcoin” where vendors and businesses on this beach are all
accepting BTC for payments, using the lightning network.
Then earlier this year, the Brazilian President signed into law crypto regulations,
moving the country closer to a wider embrace of digital currencies by laying the groundwork for
the assets to be used as payments, and classifying the range of crypto assets.
From the article “Sen. Iraja Abreu, who backed the bill, told Bloomberg that the legislation
would establish a favorable environment for more regular crypto use. He said “With regulation,
cryptocurrency will become even more popular,” “Once this regulation is approved, the trend
is that it will be increasingly adopted in the supermarket, in commerce, in a car dealership.”
What about South Africa? Well just like Brazil,
the nation is seeing the value in digital assets and is moving swiftly to get
them regulated within the country so the industry can grow and flourish within it!!
Now what about the nations who are about to join BRICS? Like the UAE or Argentina? Well as we all
know, the United Arab Emirates is positioning itself to become the global crypto hub…many
people and businesses are moving to the UAE due to their soft stance on crypto assets.
Well late last year, an Argentinian province, Mendoza, is allowing their citizens to pay
their taxes in crypto asset stablecoins, like Tether and DAI…just last month,
the nation became the first LATAM country to have a regulated BITCOIN futures product launched….and
the country is being really friendly with TAXES with a new proposed bill. From the article it
says “Those individuals who voluntarily disclose their assets within the first ninety days of the
law's implementation will be subject to a tax on the capital gains of their cryptocurrency
holdings that is just 2.5%. This tax will only apply to those individuals who reveal
their assets. This tax rate would increase by a small amount once every three months
until it reached the ordinary capital gains tax rate of fifteen percent for the nation”
So my friends, just a few days ago…Brazil’s currency President Lula, reiterated the need
for the BRICS nations to move away from the dollar and create their own new currency. He
said “"Why can't we do trade based on our own currencies?" "Who was it that decided
that the dollar was the currency after the disappearance of the gold standard?"
Well the Bitcoin Standard is coming for these nations very soon..Cheers I’ll see you next time!!