A succinct review:
Over a trifling three-month period in 2021, Brazil's gold reserves experienced an almost 100% surge.
Currently, Brazil holds a staggering 130 metric tons of the precious metal.
In March of 2022, Brazil's central bank unveiled a significant shift in its foreign reserve strategy.
The bank revealed that it augmented its foreign reserves in Chinese yuan by a factor of four, while concurrently curtailing its stash of U.S. dollars and euros throughout 2021.
Towards the latter half of 2022, news sources broke the story that China was going to acquire corn from Brazil to diminish reliance on the United States, the world's foremost exporter of corn.
In January, China emerged as the primary importer of corn from Brazil, even though Brazil is only the third largest corn producer globally.
Earlier this year, Brazil's president hinted at the possibility of fabricating a shared currency for both BRICS and MERCOSUR, that could be utilised in reciprocal settlements.
The world discovered that Brazil and Argentina are in talks regarding the establishment of a common currency. The move is regarded as part of their collaborative drive to mitigate dependence on the U.S. dollar.
These two nations represent the largest economies in South America.
Fast forward to the past 24 hours:
Brazil and China have struck a deal to scrap the U.S. dollar in favour of their own currencies in trade transactions.
The agreement will enable direct trade and financial dealings between China and Brazil, where both countries can transact in their respective currencies, yuan and reais, without the need for prior currency conversion to U.S. dollars. All this foreshadows and will likely segway into a 'gold backed digital currency' between the BRICS nations to rival the waining western fiat currencies very soon...
The pattern is now prevalent and conspicuous.
It will undoubtedly be a wild ride so hold on tight to your Silver & Gold!