looks like OKeefe didn't have to tranny himself up for this one.
shocking, by the looks and mannerisms of the economist.
in all seriousness, OKeefe should be awarded the highest civilian war honor, when this is all over.
doing God's work.
fed go boom.
here's how it will play out:
1) BRICS introduces a blockchain based, commodity (gold?) backed cryptocurrency. BRICS will essentially have a centralized system for one purpose - to house the gold for redemptions of the cryptocurrency, and possibly to run the backbone nodes.
2) BRICS countries will swap their USD and Treasuries on an agreed schedule for the new crypto at an agreed gold/crypto exchange rate.
3) Rest of the world starts to swap their USD for the new crypto currencty at the same conversion rate (thus setting price of gold for some time to come)
4) People worldwide and institutions start using it to trade in commerce.
5) [one or more stages of war, pestilence, confiscations, lockouts, etc.]
5) Fed becomes irrelevant.