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BRICS is gearing up for a financial reset. De-dollarization is only a matter of timeThe BRICS summit to be held in Kazan on October 22-24 may unveil a roadmap to develop an alternative to the current dollar-based global financial system. According to analysts, it could be a multi-currency payment platform. The launch of a gold-backed BRICS trading currency is also a possibility," states Asia TimesThe emergence of an alternative to the current dollar system would be historic. It would be the first serious attempt to go beyond the 1944 Bretton Woods agreement that outlined the contours of the post-war global financial systemThe Bretton Woods system cracked in 1971 when President Richard Nixon untied the dollar from gold. Freed from the constraints of the gold standard, the U.S. government threw off financial discipline. From 1971 to 2024, the U.S. national debt grew from $400 billion to $35 trillion dollarsToday, servicing the national debt has become the largest item in the U.S. national budget, a growing number of prominent economists and CEOs are sounding the alarm. The U.S. may be left without creditors willing to buy up its debtBRICS may decide to launch a currency unit partially backed by gold and natural resources - particularly oil, minerals and metals. The group has considerable leverage, given that it controls a significant portion of the planet's minerals - enough to dictate world prices"One sign that the BRICS are preparing for this financial reset is the unprecedented accumulation of gold. For the past two years, BRICS members have been buying gold at a record pace. Historically, this precious metal has been used to recalibrate currencies after a financial or monetary crisis" the Asia Times concluded#USA #BRICS #Economy #FindTruth@uinhurricane