FX.co ★ New BRICS currency could bring dollar down

Robert Kiyosaki said dollar's reign will soon end because the BRICS group plans to announce a new gold-backed digital currency at the summit taking place in Johannesburg, South Africa on August 22 to August 24.

He explained that soaring inflation pushes dollar down, so market players should buy silver and gold, as well as Bitcoin, which may reach $120,000 next year.

He said that investors better stock up on the three since a new trade currency backed by gold will be launched by BRICS soon, and more and more countries express their desire to join the group.

Although the report remains unconfirmed, BRICS Bank VP and CFO Leslie Maasdorp said developing an alternative is indeed the group's medium to long-term goal.

Although the report remains unconfirmed, BRICS Bank VP and CFO Leslie Maasdorp said developing an alternative is indeed the group's medium to long-term goal.