Global Financial Reset: Gold Revaluation and BRICS Summit Analysis
Key Points from Andy Schectman Interview
Predicted Financial Reset
- Andy Schectman, President of Miles Franklin Precious Metals, forecasts a major global financial reset
- Suggests gold could potentially be revalued to $150,000 per ounce
- Points to the 2024 BRICS summit as a possible catalyst for change
The ‘Unit’ – Proposed New Global Currency
- BRICS nations considering introduction of new currency called the ‘Unit’
- Currency structure:
- 40% pegged to gold value
- 60% backed by basket of BRICS national currencies
- Designed as an “apolitical currency” to address concerns about U.S. dollar politicization
Current De-dollarization Trends
- Project mBridge Development
- Multi-central bank digital currency platform
- Developed by China, Hong Kong, Thailand, and UAE
- Operating under BIS Innovation Lab
- Serves as SWIFT alternative for sanctioned nations
- Global Gold Movement
- Central banks worldwide increasing gold reserves
- Notable trend of nations repatriating gold from Bank of England and NY Fed
- Countries including Germany, Austria, Saudi Arabia, Hungary, and others bringing gold back within borders
U.S. Economic Concerns
- National debt approaching $36 trillion
- Current debt creation rate: $100,000 per second
- Approximately $1 trillion new debt every 90 days
Potential Reset Scenarios
Schectman outlines how the reset might occur:
- Gold revaluation to balance U.S. assets against liabilities
- System destabilization affecting:
- Over-leveraged banks
- Insurance companies
- Real estate market
- Bond market
- Stock market
- Introduction of gold-pegged CBDC
CBDC Implementation
- Countries representing 99% of global GDP exploring CBDCs
- Potential framework for new global financial system
- Could serve as foundation for unified monetary approach
Analysis
The proposed changes suggest a significant shift from the current dollar-based system to a new multilateral approach, with gold playing a central role in global finance. The combination of BRICS expansion, new currency proposals, and widespread CBDC development indicates systematic movement toward a reformed global financial structure.