The popular personal finance book Rich Dad Poor Dad’s author claims that multiple countries are working together to create a new currency that can rival the US dollar.

Robert Kiyosaki has tweeted to his 2.4 million followers that BRICS is leading the way to establish a new currency that will be secured by gold.

Challenging the US dollar’s supremacy

The best-selling author has also suggested that France, a long-time ally of the US, and 36 other countries could potentially team up with BRICS to challenge the dollar’s supremacy in international trade and foreign reserves.

According to his tweet, around 41 nations could collaborate in South Africa on August 22, 2023, and launch “bric,” their currency, where one bric will be equivalent to one ounce of gold worth $3,000, which could imply a significant threat to the US dollar.

Kiyosaki mentioned the upcoming 15th BRICS Summit in South Africa, which is scheduled to take place from August 22nd to 24th.

News reports had previously speculated that the economic alliance of nations would introduce a new currency to rival the US dollar.

Although Russian representatives have hinted at the possibility of a new currency being discussed at the summit, African Ambassador Anil Sooklal has denied these claims.

According to Sooklal, launching a new currency is not on the agenda for the BRICS Summit, and there has been no discussion of such a proposal.

BRICS leader addresses US dollar

According to Anil Sooklal, an African ambassador and BRICS official, the US dollar’s prosperous period has come to an end. In a media briefing,

Sooklal shared that the BRICS nations, consisting of Brazil, Russia, India, China, and South Africa, are shifting away from using the world’s primary reserve currency.

He clarified that the group aims to strengthen economic partnerships among its members by conducting transactions in their respective national currencies. “Our focus is on promoting local currency trading and settlement,” he explained.

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