Thailand and Malaysia could be the next nations to join the BRICS coalition, an economic bloc of nations founded by Brazil, Russia, India, China, and South Africa that has expressed interest in reducing the global economic power of the U.S. dollar.
“Some of us, including people like myself, think that we need to find solutions to the unfair international financial and economic architecture, so BRICS would probably be one of the ways to balance some things.”
—former Malaysian foreign minister Saifuddin Abdullah
What would the growth of BRICS mean for the strength of our nation’s currency?
Click on the video link below for exclusive executive insights on this topic from Philip N. Diehl, 35th Director of the U.S. Mint and President of U.S. Money Reserve.
Related headlines from around the web:
- Reuters: “Thailand eyes BRICS membership at October summit, begins OECD application”
- Bloomberg: “Malaysia Says BRICS Chair Russia Backs Its Bid to Join Bloc”
- CNBC: “Gold could end up being the best investment of 2024”
Enhance your portfolio with precious metals today.
Widespread market forces like central bank demand, geopolitical tensions, and monetary policy may continue to drive gold prices higher. Gold has also historically been used as a hedge against economic uncertainty and market turbulence. Now may be the perfect time to add wealth protection to your portfolio in the form of physical gold.
Watch U.S. Money Reserve’s “Market Insider” each week for more economic insights. Nothing herein should be considered as portfolio or retirement advice as U.S. Money Reserve (“USMR”) cannot and does not offer financial advice. Clients should consult a financial advisor for specific advice. This commentary is provided by USMR for informational purposes only and is provided on an “as is” basis without any warranty of any kind, whether express or implied. Your use of the information provided in this commentary is entirely at your own risk. In no event will USMR be held liable for any indirect, special, incidental, or consequential damages arising from the use of information contained in this commentary.
