Dinar Chronicles: Exclusive RV/GCR Intel for June 17, 2024 (2024)

Dinar Chronicles Exclusive RV/GCR Report– June 17, 2024

(Disclaimer: The following is an overview of the current situation relating to the Global Currency Reset based on intelligence received from several sources which may or may not be accurate or truthful.)

In the last report dated February 11, 2024, we saw anticipations of BRICS dethroning the US Dollar as the world’s reserve currency. Today, we are witnessing the early stages of this radical transition. The end of the Petrodollar agreement with Saudi Arabia has paved the way for BRICS to lead a financial currency and system infrastructure revolution. This movement signifies a major disruption to the US Dollar-dominated fiat currency system, introducing a groundbreaking gold-backed currency.

As part of this shift, Russia has halted all trading in dollars and euros on the Moscow Exchange, significantly impacting global financial markets. This dramatic move may be indicative that Russia is preparing to put the Ruble on a gold standard, further solidifying its position away from Western-dominated currencies.

China, another integral member of BRICS, launched their tokenized digital Petroyuan—another gold-backed currency which has been integrated into the mBridge platform. mBridge aims to tackle critical inefficiencies in cross-border payments, such as high costs, low speeds, and operational complexities. It also addresses lingering concerns in financial inclusion, specifically in jurisdictions where correspondent banking has seen a decline. The emergence of multi-CBDC (central bank digital currency) arrangements like mBridge has the potential to significantly restructure the current system, enabling faster, cheaper, and universally-accessible cross-border transactions with final settlement in place.

Multi-CBDC (Central Bank Digital Currency) arrangements that connect different jurisdictions within a unified technical infrastructure offer significant potential to enhance the current system. These arrangements could enable cross-border payments to be immediate, cost-effective, and universally accessible, with final settlement.

The potential benefits of the gold-backed BRICS currency and the digital Petroyuan have the capacity to reshape the global financial system, offering several advantages over the existing US Dollar-dominated structure. Here are some of the key advantages:

Amidst these changes, it is evident that the global financial system is undergoing a tectonic shift. The role of BRICS in this reformation is prominent—one that will force the US and the West to reassess their strategies and adapt to this evolving global financial landscape.

However, skepticism exists about these rapid changes and their potential implications. The impact of a world without the US dollar as the primary reserve currency would be profound, and it’s essential to consider the legal, economic, and political consequences that accompany such a transformation.

As countries like Russia, China, South Africa, Brazil, India (and more countries showing interest to join) establish these new financial infrastructures, one cannot deny that the West is at a critical junction. Complementing and cooperating with these developments would contribute to a more inclusive, dynamic, and equitable global financial system, while disregarding them could introduce uncertainty and discord.

The rise of BRICS could potentially signify the beginning of a new financial era, one that moves beyond traditional finance and capitalizes on the unprecedented potential of digital arrangements, connectivity, and modern gold-backed currencies. The global community should observe these developments to better understand the currently-forming financial environment and make informed decisions in response.

Ultimately, the transformation of the global financial system is well underway, and the balance of power in international currency markets is shifting. By remaining vigilant and open to collaboration, the US, the West, and other smaller countries can harness the benefits of this transformative period and overcome the challenges that these sweeping reforms may introduce.

In the meantime, keep an eye on the news and watch events unfold.