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BRICS set to Introduce New Currency in 2024: Implications for Global Economic Dynamic

India, a member of the BRICS group, is exploring the potential of introducing a new currency that could serve as an alternative to the US dollar. The country has tasked a group of financial experts with examining the feasibility of this new currency. This initiative is part of a broader discussion among BRICS nations about reducing their dependence on the US dollar in international trade.

The significance of this development for Americans lies in its potential impact on the global economic landscape and the status of the US dollar as the world's primary reserve currency. If BRICS countries, which include some of the world's largest emerging economies, successfully introduce and adopt a new currency for trade, it could lead to a shift in global trade dynamics and potentially weaken the dominance of the US dollar.

This could have implications for the United States in terms of its influence in international financial markets, its ability to impose economic sanctions, and the overall stability of its currency. As such, it's important for Americans to stay informed about these developments and their potential consequences for the US economy and its global standing. Read More. 

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Federal Reserve’s Bubble Fuels “Great Retirement” Surge as Baby Boomers Revel in 1999-Era Exuberance

The "Great Retirement Boom" has seen a significant increase in early retirements among Americans, driven by rising tech stock prices and home values. Bloomberg reports that there are approximately 2.7 million more retirees in the US than previously predicted, according to a model by economist Miguel Faria-e-Castro of the Federal Reserve Bank of St. Louis.

Many retirees are investing in tech stocks as a response to inflation, with about half of them buying stocks instead of traditional inflation hedges. The expectation of interest rate cuts by the Federal Reserve has further fueled the bubble in artificial intelligence stocks, reminiscent of the Dot Com bubble or the 1930s economic scenario.

The surge in stock prices has led some retirees to feel secure in their financial situation, reducing the need to return to work. However, if the Federal Reserve ends its zero interest rate policy and quantitative easing, the resulting market corrections could force many retirees back into the workforce. Read Now.