It wasn't a grammar mistake, it was an intentional click baiting, making it seem as though something happened when it hadn't.
It is entirely possible that BRICS countries work together to return to a gold-backed currency which would have major consequences for the dollar.
For starters, BRICS are 5 nations. That leaves 95+ countries unaccounted for.
Most who cheer about BRICS potentially using gold-back currency think it means their populations will all have access to it. Spoiler alert, they won't. It's proposed as being merely for country-to-country trades.
The hypothesis of "Operation Sandman" appears to be there are a large group of countries who want nothing more than to punish the US for being the worldwide reserve currency, so they coordinate the collapsing of the US dollar.
Now, imagine for a moment you're one of these countries participating in this scheme. Let's say you're a small country, you have a loan from the IMF that totals the equivalent of 100 billion USD in the form of SDR. USD comprises 40% of the SDR, which means you're making continual interest payments on 40 billion USD.
That means, as a country, you NEED to come up with USD to make interest payments, because you NEED to come up with SDR and 40% of SDR is USD.
That demand will make USD always retain its value. Even if BRICS says "Hey, we're going to pay you in this new gold-backed currency, is that OK?", you as a country would take that gold-back currency and convert it to SDR so you can pay off your debt, ensuring demand for USD will always exist.
But even the notion that countries want to destroy the US currency is ridiculous. China continually devalues its own currency to make it better for them to export goods. Trump complained about China devaluing their currency on-purpose many times.
Why would China all of the sudden decide its going to make its currency super strong to punish the US? If, tomorrow, the USD was cut in half, would China be happy to receive only half of the money from the US they used to get? Would they initiate that on purpose?
This "Operation Sandman" is being pushed by small, low-traffic personal blogs who are attempting to scare people into buying gold. There are no credible sources for this information.
What would make someone credible? For starters, explain how they have access to know what 100+ countries are coordinating. Who coined "Operation Sandman", certainly if 100+ countries have agreed on this terminology and plan, there should be some leader of one of these countries boasting about it. That doesn't exist.
It wasn't a grammar mistake, it was an intentional click baiting, making it seem as though something happened when it hadn't.
For starters, BRICS are 5 nations. That leaves 95+ countries unaccounted for.
Most who cheer about BRICS potentially using gold-back currency think it means their populations will all have access to it. Spoiler alert, they won't. It's proposed as being merely for country-to-country trades.
The hypothesis of "Operation Sandman" appears to be there are a large group of countries who want nothing more than to punish the US for being the worldwide reserve currency, so they coordinate the collapsing of the US dollar.
Now, imagine for a moment you're one of these countries participating in this scheme. Let's say you're a small country, you have a loan from the IMF that totals the equivalent of 100 billion USD in the form of SDR. USD comprises 40% of the SDR, which means you're making continual interest payments on 40 billion USD.
That means, as a country, you NEED to come up with USD to make interest payments, because you NEED to come up with SDR and 40% of SDR is USD.
That demand will make USD always retain its value. Even if BRICS says "Hey, we're going to pay you in this new gold-backed currency, is that OK?", you as a country would take that gold-back currency and convert it to SDR so you can pay off your debt, ensuring demand for USD will always exist.
But even the notion that countries want to destroy the US currency is ridiculous. China continually devalues its own currency to make it better for them to export goods. Trump complained about China devaluing their currency on-purpose many times.
Why would China all of the sudden decide its going to make its currency super strong to punish the US? If, tomorrow, the USD was cut in half, would China be happy to receive only half of the money from the US they used to get? Would they initiate that on purpose?
This "Operation Sandman" is being pushed by small, low-traffic personal blogs who are attempting to scare people into buying gold. There are no credible sources for this information.
What would make someone credible? For starters, explain how they have access to know what 100+ countries are coordinating. Who coined "Operation Sandman", certainly if 100+ countries have agreed on this terminology and plan, there should be some leader of one of these countries boasting about it. That doesn't exist.
Did you read the articles that have previously appeared on GAW?