The U.S. government will never stop printing

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🚨🇨🇳🇷🇺🇧🇷🇮🇳🇿🇦 REPORT: #BRICS launched a new currency called 'the Unit,' which is backed 40% by gold and 60% BRICS national currencies, equally weighted between the Brazilian real, Chinese yuan, Indian rupee, Russian ruble, and South African rand.

The world’s leading emerging markets are searching for a way to ditch the dollar, and the BRICS ‘Unit’ is the first working prototype for a gold-referenced trade currency.

While not yet official policy, its existence is a direct step toward dedollarization and a significant bullish signal for long-term gold demand. The value of the Unit is designed to fluctuate daily in line with movements in the component currencies against #gold.

By December 4, market fluctuations had adjusted the value of the reserve basket to 98.23 grams of #gold, effectively bringing the Unit’s value to 0.9823 grams of gold per Unit.

Source: Economic Strategies of the Russian Academy of Sciences

⚡️ Key Economic Events This Week:

Tuesday - October Retail Sales data, November Jobs Report

Thursday - November CPI Inflation data, December Philly Fed Manufacturing Index

Friday - October PCE Inflation data, November Existing Home Sales data, MI Inflation Expectations data, MI Consumer Sentiment data

Plus 5 Fed speaker events throughout the week

Which direction will the market head this week?