_[Historian] I heard some interesting stuff over the last week.
[Historian] It has to do with the stuff I've been talking and posting about in the last month -- my theory that we're changing from fiat currencies to asset-backed ones.
[Historian] Well, it's no secret amongst the global finance crowd (those who invest seriously on a global basis) -- word is that 4 of the BRICS are going to switch over to using a new reserve currency (Brazil, Russia, India, China). Right now, they just negotiate their exchange with each other directly -- they do not use the USD.
Historian] It is anticipated that other countries will be able to use that reserve as well. So how long are any fiat currencies going to last after that? They'd better RV to new rates that are asset-backed.
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_ [Historian] I'm hearing that the new reserve is anticipated in the earlier part of the year rather than the later part. IMO, that timing is good for us.
[Historian] Other related news heard on mainstream TV -- the business channel showed a chart comparing developed nations to emerging nations, and how much they consume. Developed nations are rapidly dropping and emerging nations are rapidly rising. In 2012, the emerging nations will consume more than 50% globally.
[Historian] That supports the theory that they have enough economic power to shift the financial model of currencies from fiat to asset-backed. This is good for us. IMO, it provides more support to the theory that those 130+ currencies are going to asset-backed rates.
[Historian] So IMO this timeline for the new reserve for the BRICS will come in AFTER an RV. And I will bet that a lot of those emerging economies will use that new reserve.
[bluedog] Historian sounds very feasible at this point wow a year ago we would have not look at this in this way at all
[Historian] All this means that the timing of the RV is good. It cannot go much longer. And IMO they would be wiser to get it done in 2011 so they start a new financial year with all the new currency rates.