Insights from the BRICS Meeting
When a fiat currency collapses, it usually leads to stagflation—high inflation and slow economic growth. The value of the currency drops, making GDP appear higher, but it's actually due to reduced purchasing power. In this case, a meeting in Johannesburg for BRICS and potential new members could weaken the US dollar's reserve currency status. This would make it tough for the US government to fund its deficit because foreigners won't want as many dollars.
Watch more of this short video from Looming Credit Collapse To Tank Stocks AND Bonds? | Alasdair McLeod.
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