As the world descends into turmoil, economies around the globe are starting to crumble. Countries that have been traditionally aligned with the United States, such as China and Brazil, are beginning to band together and challenge the dollar as the global currency. This move could mean the end of American dominance in global economics, and marks a significant shift in the way the world operates.
Global economic collapse looming as BRICS nations unite against US dollar
Andy Schectman, CEO of Miles Franklin Precious Metals Investments, has predicted that the global economic collapse is imminent as the BRICS nations coalesce against the dollar. He believes that this trend will continue into 2022, and that all of these developments point to a growing rift between the United States and the rest of the world. If left unchecked, this could have serious consequences for the global economy.
Expert Predicts Economic Collapse as BRICS Unite Against Dollar
As the Federal Reserve continues to raise interest rates, big banks are predicting another three hikes by the end of the year. This would bring the interest rate up to 2.25%.
#1 – Expert Predicts Looming Economic Collapse as BRICS Nations Unite Against the Dollar
According to an expert, a looming economic collapse is likely as the BRICS nations unite against the dollar. Their goal is to create their own international currency that will be more accessible and desirable than the US dollar.
KEY FIGURE in economics criticizes Federal Reserve plans; could threaten inflation goals
Mohamed El-Erian, an economist with George Washington University, has spoken out against Federal Reserve Chairwoman Janet Yellen and the central bank’s plans to reach the 2 percent inflation target. El-Erian is a highly respected figure in the field of finance and economics, and his comments carry significant weight.
El-Erian suggests that the Fed should aim for a higher stable inflation rate of 3-4%. While he says that the current measures being taken by the Fed are “adequate,” he believes they are not enough to achieve inflationary goals.
El-Erian argues that if the Fed does not undertake additional action to stimulate the economy, an inflationary spiral could ensue. He believes that the Fed is currently handicapped by low interest rates and a weak economy, which makes it difficult to reach inflation targets. El-Erian believes that either of these conditions could change in the future and lead to higher inflation rates.
If El-Erian is correct, then the Federal Reserve faces an uphill battle in achieving its inflation target. His comments suggest that policymakers may need to take more aggressive action in order to stimulate the economy.
Why bigger Bitcoin blocks are speeding up transactions and raising fees
The increase in the number of ordinals is a key factor in the increase in the size of Bitcoin blocks. The larger blocks are, the faster transactions can be processed and the higher the fees can be.
The BRICS nations – Brazil, Russia, India, China and South Africa – are uniting against the US dollar and are predicted to form an economic bloc against the US. This alliance has the potential to challenge the global economic order, and could lead to a global economic collapse. Expert economists have criticized the Federal Reserve’s plans, and could threaten their goal of controlling inflation. As the BRICS nations build their alliance, bigger Bitcoin blocks are speeding up transactions and raising fees. This is a clear indication that the global economy is headed for trouble.