Well, this would be something I actually did not expect to happen, if true.
Some many people within the economics world thought that the gold standard was dead for good and gone forever and yet BRICS may be onto something here.
However, I am still skeptical on the capacity of BRICS to globally affect the hegemony of the American Dollar around the world and all the markets, even though a gold backed currency in this decade could be a game changing move, there is still a point of failure which could be the biggest obstacle for a gold backed currency: trust.
Not all of us will believe that BRICS's new currency is fully backed and there would be no easy way to know it, they could try to make the currency 100% redeemable for gold, that would solve the trust problem partially but all this would become a very tempting scenario for counterfeits.
Topic: The Gold Standard Is Back: BRICS To Intro Gold-Backed Reserve Currency - page 2. (Read 230 times)
July 11, 2023, 07:08:47 PM
July 11, 2023, 11:44:11 AM
Here comes a world gold-backed currency. Will they let US people and Nato-nation people buy it on an individual basis? Will it become popular enough that gold selling companies will start trading gold for various international currencies through it? Will there actually be a method for redeeming it for real gold?
The Gold Standard Is Back: BRICS To Intro Gold-Backed Reserve Currency
https://www.zerohedge.com/markets/gold-standard-back-brics-intro-gold-backed-reserve-currency
Remember back when the Russia/Ukraine war had just started, and I predicted that Russia and China would launch their own gold backed currency?
At the time, this idea sounded completely foreign, and I was ridiculed for bringing it up. Today, it just become reality. 41+ countries look like they could be returning to a gold standard.
...
The Gold Standard Is Back: BRICS To Intro Gold-Backed Reserve Currency
https://www.zerohedge.com/markets/gold-standard-back-brics-intro-gold-backed-reserve-currency
Remember back when the Russia/Ukraine war had just started, and I predicted that Russia and China would launch their own gold backed currency?
At the time, this idea sounded completely foreign, and I was ridiculed for bringing it up. Today, it just become reality. 41+ countries look like they could be returning to a gold standard.
...
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