BRICS: Flight Into Gold Began With The GFC
It is interesting to see how the BRICS countries sought their escape into gold at the beginning of the Great Financial Crisis (GFC) which quickly turned into a massive sovereign debt crisis. It is obvious that the political leaders in this room no longer expected the G7 countries and the Western economies to be able to free themselves from their debt spiral. Incidentally, it was also assumed that the West would show itself to be capable of using the established against the renegade. If you look at the massive sanctions regime of the USA, you can say: they weren't entirely wrong!
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