Aug 11, 2023
Between out-of-control inflation, the Russia-Ukraine war, and the ongoing banking crisis, the market is filled with uncertainty right now. On today’s show, Daniela’s guest Peter Grandich asserts that the de-dollarization trend could reshape the global markets as BRICS countries – Brazil, Russia, India, China, and South Africa – look to establish a new gold-backed international standard currency. Peter says, "The United States is either being eliminated or limited in exposure on trade after 100-plus years of being a leader on trade. I personally think when the BRICS stuff is all said and done over the next one to three years, it'll be the most important thing for world trade since the Industrial Revolution."
He also believes that it's crucial for investors to prevent
themselves from tuning out today's
negativity in order to form a sound plan moving forward. “The only
thing that's going to keep you sane is to deal in the world of
reality... The reality is America is facing its worst ever social,
political, or economic period,” he explains. Peter concludes by
stressing that the Federal Reserve is unlikely to pivot from its
aggressive inflation-fighting strategy, meaning this market
turbulence we're experiencing today could drag on for much longer.
“The easier
way always for politicians is inflation versus deflation. Deflation
is horrible. We saw that
during the [Great] Depression. They will choose inflation over
deflation, no matter what they
may say at the moment,” he says.
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