During his appearance in "Brighteon Conversations" with the Health Ranger Mike Adams, Schectman said a series of events has created a domino effect that led to the financial demise of the West.
"You got gold being reclassified Tier One and you have 190 countries worldwide saying they want a new system – paying fuel with other currencies besides the dollar. Central banks are gobbling up gold and repatriating it. The BRICS [Brazil, Russia, India, China and South Africa] nations are all coalescing. And you have a digital yuan that has already done 10 billion in transactions," he said.
Schectman further said that the BRICS nations are the largest accumulators of gold, producing and buying the precious metal without selling. "And it's now Tier One, which means physical or allocated gold remains as a zero-risk Tier One asset," he said.
All those things are geared to collapse the dollar reserve. And when the inevitable happens, Schectman said, the Great Reset will begin.
"There's your [World Economic Forum founder] Klaus Schwab saying you'll own nothing and be happy. Because everything that is of any value in this country, the four pillars of wealth – dollars, stocks, bonds, real estate – will collapse in one swift moment." he said.
It is bound to happen because of the weaponization of the dollar as the world reserve currency. "America cannot tell the world who can and can't use it by pushing Russia right into the open arms of China and its CIP [cross interbank payment] system," Schectman explained.
He went on to say that 90 percent of the world has had to own dollars to buy oil. "Now, you have all of the world dumping dollars. And if you think inflation is bad, wait until all those dollars come flooding home creating massive hyperinflation," he said.
Subsequently, stocks, bonds, and real estate will all plummet at the same time. This is because the Organization of the Petroleum Exporting Countries (OPEC) will take other currencies. "Naturally, the Fed will blame the BRICS nations, but the dollar will evaporate just like that," he pointed out.
According to Schectman, Saudi Arabia is now negotiating with China to sell its oil and the de-dollarization is happening on a massive scale.
In a separate interview with Charlotte McLeod on Investing News Network, Schectman said he sees the U.S. dollar and equities as risky places to be in. In contrast, he said physical gold and silver offer security and should see substantial price rises in the future.
He explained: "I think it's very, very important for the powers that be to mitigate the rise of gold and silver, even as all the other commodities are racing ahead. If gold and silver are flying in the face of a record 40-year inflation, it sends a message that the dollar really is probably in as big trouble as a lot of us expect – but certainly, they don't want that to be mainstream news."
BRICS setting up a new global reserve currency
Last week, President Vladimir Putin announced that the BRICS countries are setting up a new global reserve currency. (Related: Putin says BRICS countries are establishing a new global reserve currency to replace the U.S. dollar.)
"The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out," Putin said during the world's leading emerging market economies business forum.
The Russian president further said the member states are developing reliable alternative mechanisms for international payments.
India's former ambassador to Russia, DB Venkatesh Varma, said national currencies are likely to play a greater role in trade.
"BRICS is taking a very important initiative in looking at alternatives because the need for alternatives is very real. The dollar has been dominant for a very long time. But particularly since February of this year, there is a greater realization that over-dependence on a single currency – dollar as the global reserve currency – is a factor of increasing risk," Varma said.
Visit DollarDemise.com for more news about the imminent collapse of the dollar reserve.
Watch the full segment of "Brighteon Conversations" with the Health Ranger Mike Adams and guest Andy Schectman below.
This video is from the Health Ranger Report channel on Brighteon.com.
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