BRICS Currency Summit 2024: Is BRICS a Threat to the US Dollar?

While you may have been focused on local market trends, something massive is brewing internationally. The BRICS currency summit 2024 wasn’t just another boring diplomatic meeting - it's potentially the beginning of a financial revolution that could shake up your investment portfolio.

BRICS (which stands for Brazil, Russia, India, China, and South Africa) is gearing up to drop a major bombshell on the global economy—a new currency. 

These nations are serious, and they’ve got a plan that could seriously mess with the US dollar’s dominance. But how big of a deal is this? Is BRICS a threat to the US dollar?

Let’s find out. I’m going to walk you through what’s going on, why it matters, and how it could impact not just the global economy, but your wallet. I’ll even hit you with some solid strategies on how you can protect your wealth.

Is BRICS Starting a New Currency?

Here’s some mind-blowing numbers that'll make you sit up straight: BRICS nations now control a whopping 37.4% of the global economy, while the G7's share has shrunk to just 29.3%. We're talking about a combined economic output of over $60 trillion! If you're wondering "Is BRICS a threat to the US dollar?" - well, the numbers are speaking pretty loudly.

And is BRICS starting a new currency? You bet they are. This isn't just speculation anymore; it's happening right under our noses, and as a real estate investor, you need to understand what this means for your future deals.

What BRICS Currency Revolution Means for You

Remember how 88% of global transactions currently involve the US dollar? Well, that might be about to change dramatically. At Russia's BRICS summit, they're not just talking about a new currency - they're building an entirely new financial system called the BRICS Bridge. 

Think of it as their version of PayPal, but way bigger and completely independent of US control.

This would make financial transactions between BRICS nations faster, more secure, and free from US sanctions. In other words, BRICS is gunning for total financial independence.

BRICS nations, along with Egypt, control over 20% of the world's Central Bank gold reserves. Russia alone is sitting on 2,335 metric tons of gold! Why does this matter to you? Because if they back their new currency with gold, we could see some serious changes in property values.

Jim Rickards, a financial expert I follow closely, predicts that if the BRICS currency unit equals one ounce of gold and gold hits $33,000 an ounce (yes, you read that right), we could see a massive shift in global wealth dynamics.

How Would a New BRICS Currency Affect the US Dollar?

If BRICS decides to peg their currency to gold, it could shake the US dollar to its core. Why? Because the dollar has been untethered from gold since the 1970s, leaving it vulnerable to inflation and loss of value.

Let me break this down for you in real estate terms:

• If the dollar weakens, foreign investors might start snatching up US properties like they're going out of style

• Your existing properties could see significant value increases in terms of the new BRICS currency

• Rental income might need to be reconsidered in terms of international currency exposure.

What to Own if the Dollar Collapses

Now, this begs the question—what if the US dollar collapses? I know this is a pretty heavy topic, but it’s something worth considering. If this new BRICS currency gains traction, the dollar could take a serious hit. 

For American households, that could mean higher prices on everything, from groceries to gas. So, how do you protect yourself? What should you own if the dollar collapses?

Here's my action plan for protecting your wealth:

1. Diversify your currency exposure

   • Start looking at assets denominated in BRICS nations' currencies

   • Consider international real estate opportunities

   • Keep an eye on emerging market ETFs like the iShares MSCI BRIC ETF

2. Get into gold and commodities

   • Consider physical gold and silver investments

   • Look at precious metal ETFs

   • Research real estate in gold-mining regions

3. Strategic real estate moves

   • Focus on properties attractive to international buyers

   • Consider markets with a strong foreign investment history

   • Look at commercial properties with international tenant potential

What Does This Mean for Real Estate Investors?

Here's something exciting that most investors are missing: This currency shift could actually create massive opportunities in US real estate. How? Well, if BRICS nations start using their new currency, their wealthy citizens might view US properties as bargains, potentially driving up prices in key markets.

Think about it - if you're holding US real estate when this happens, you could benefit from:

• Increased property values due to foreign investment

• Higher rental demands from international tenants

• Potential currency appreciation if you diversify into BRICS markets

I'll be straight with you - this isn't just about protecting your wealth; it's about positioning yourself to thrive in a changing financial landscape. The BRICS currency summit showdown isn't some distant event that doesn't affect you - it's a signal to adapt your investment strategy now.

Here's what I'm doing with my own portfolio, and what you might want to consider:

• Diversifying into markets attractive to international buyers

• Building relationships with foreign investor groups

• Studying markets in BRICS nations for potential opportunities

• Keeping a portion of my portfolio in precious metals as a hedge

If you’re looking to buy or sell property, you’re going to need every advantage you can get. That’s where tools like Seller Sniper come in. With unlimited access to 280 million contacts, you can streamline your marketing and budget smarter to maximize your returns. 

And if you want to take it one step further, Hire My Call Porter can help you manage all those leads without being glued to the phone. They offer professionally trained, U.S.-based live call answering, so you can focus on making deals, not managing your phone.

Make Smart Moves in the Real Estate Market

The BRICS Summit 2024 could mark the beginning of a new era in global finance. While some investors might panic about these changes, I see opportunity. By staying informed and positioning your portfolio correctly, you could turn this global shift into your biggest advantage.

Remember, in times of economic transformation, real estate has historically been one of the most resilient investments. The key is understanding how global changes affect local markets and being prepared to act accordingly.

Want to stay ahead of these changes and ensure your real estate portfolio is positioned for success? Let's connect and discuss how these global shifts might affect your specific investment strategy.