Topic: The Gold Standard Is Back: BRICS To Intro Gold-Backed Reserve Currency (Read 230 times)

People like the Internet because it gives them freedom from "traditional values and goodness" if that's what they want. But why not a form of Internet where traditional values and goodness prevail?

There might be people - you might be one of them - who enjoy when people come into your house and rape you and destroy your family values. There are loads of people who don't like that kind of idea.

There is strength in traditional values and goodness. Why? Because God explains it through Moses in Exodus and Deuteronomy in the Bible. God is very patient. But after a while He allows promiscuity and evil living to catch up with the people. Read the whole Old Testament to see how Ancient Israel was torn down when they didn't follow God's ways -over and over and over - and how they were built up when they did - over and over and over.

Closer to home, maybe your own country has these same kinds of things in their history. The USA certainly has. The USA was built on godly concepts. Freedom of religion was part of the foundation of the making of the USA. And the religion that they were talking about was the various denominations of Bible Christianity.

Now that the US is supporting a free-to-promote-evil Internet, and now that abortions and many other evils are abounding, look at America fall. It's falling farther every day.

Russia and BRICS simply want strength... to be built up and made strong. Traditional values and goodness are the things that will do this... especially if they are Bible goodness things. This new Internet will thrive, but watch the current one destroy many people who use it, and even itself.

That sounds quite strange and dystopian, in my opinion. Do they even know why people like internet and why it is popular among all the people on this planet? It is because on the internet there is supposed to be a place for any kind of content, as long as it is legal and does not go against the integrity of other people, what they are proposing is basically an authoritarian version of the internet, where they as a centralized power can decide what can stay online and what is supposed to be removed because it does not comply with what they call "traditional values". The definition of traditional values can change considerably depending whom you ask about it, by the way.

For example, if some husband decided to offer cooking lessons online, is he supposed to be censored because traditionally men do not cook?
Would a men wearing a pink shirt be censored because wearing it?

Get this idea. BRICS isn't only going for new banking and financial stuff. It's as I said in a different post, BRICS is going for all kinds of new ideas. Think of advertising to the rest of the world through a new Internet from BRICS!


BRICS should create their own internet – MP

---

https://www.rt.com/business/587047-brics-russia-alternative-internet/
Russian lawmaker Dmitry Gusev says such a network would help preserve traditional values

Russia should develop an alternative internet in collaboration with the other BRICS nations, the first deputy chairman of the State Duma Control Committee, Dmitry Gusev, has proposed.

According to a document seen by RIA Novosti, the official submitted a request to work on creating “a single inclusive BRICS+ cyberspace” to Maksut Shadaev, the head of Russia's Ministry of Digital Development, Communications and Mass Media.

The proposal to develop “an internet where traditional values and goodness prevail” could be implemented “using technical, organizational and civilizational capabilities common to the entire association.”
...

---

Not as much momentum as you can imagine or as much as there is on the news.
The idea of a BRICS currency is mostly sound and no substance for now, too many news and yet the whole idea for this currency has stayed as that: an idea.

The BRICS has not even declared their formal intentions to start printing their currency or the organization and schedule among their current members, at this point we could even expect the currency not to become a reality this year or even in the next year.

Just because you do not like your current administration in the USA, it does not mean your currency will get replaced internationally over night. There is competent people in the department of Treasury.

Now we are finding out why BRICS wants to separate itself from the USDollar. It has to do with the US starting the Ukraine war with Russia.


Putin says it is Russia’s mission to create a “new world” free from American hegemony

---

https://www.naturalnews.com/2023-10-06-putin-russia-mission-create-new-world.html
Russian President Vladimir Putin said it is his country's mission to create a "new world."

Putin made this statement on Thursday, Oct. 5, during the annual summit of the Russian think tank the Valdai Discussion Club in the Black Sea resort town of Sochi. "We are, in fact, faced with the task of building a new world," he said.

He further claimed that the United States and the rest of the Western world have spurned Moscow's "goodwill" and efforts to build a "new and fairer world order" after the collapse of the Soviet Union in 1991, including by rebuffing the newly established Russian Federation's proposal to join the North Atlantic Treaty Organization, which he said has raised the risk of global war. (Related: Putin accuses U.K. of training Ukrainian saboteurs to disrupt Russian nuclear plants.)

"Our readiness for constructive interaction was misunderstood by some as submission, as an agreement that the new order will be built by those who proclaimed themselves the winners of the Cold War," said Putin. "All these years we have repeatedly warned that this approach not only leads to a dead end but is fraught with the growing threat of military conflict."

"But no one was going to listen to us, no one wanted to hear us," he added. "The arrogance of our so-called partners in the West was simply off the charts."

Putin claims Russia did not start the conflict in Ukraine

In his speech during the Valdai Discussion Club, Putin also pointed out that the Russian special military operation in Ukraine is all about finishing the conflict that the U.S. started back in 2014 at the beginning of the Washington-supported Ukrainian Maidan Revolution.

"We did not start the so-called war in Ukraine. On the contrary, we are trying to finish it," he said. Putin added that the nearly decade-long conflict in Ukraine was started by the U.S. because it wanted to be a "hegemon" over Eastern Europe and because the country saw itself as the only arbiter of truth on the planet.
...

---

I don’t think anyone expected BRICS to move as suddenly and quickly as they have been in order to take advantage of America’s insane leadership at the moment. I think when we get a new ‘America First’ administration in the White House things will change, but for now it is scary how much momentum the BRICS currency is gaining.

The currency they may want to introduce could not be completely gold backed, it could be even non-backed because in the end of the day the final objective it would not be to provide the people of BRICS with a reliable currency, but to dethrone the USA dollar off its status of global medium of transmission of value.

If they talk about gold backing it could be in order to increase the attention people and institutions on their incoming currency, because otherwise there would not be nothing important/different about BRICS bills. China and Russia (which are the head of the group) are probably planning to include as many countries a possible in order to pre-establish the zone of influence of that currency ans slowly introduce it in detriment of the USD. Argentina is a very good example of what they try to do, when a population does not longer trust their own currency, they seek for alternatives, Russia and China want BRICS to be that alternative, before a future president pulls the trigger on dollarization.

BRICS looks like it real agenda is how to destabilize the US economy and they have two big competitors of US which is Russia and china. To achieve such they need to make the dollar less important by introducing some currency that will serve a global purpose yet no one will lay claim to. I thought that was one propaganda that led to the war in Libya and eventual death of Muammar Gaddafi because of same gold baked currency introduction in Africa.

It's a small step from gold-backed to printing more money than they have in gold.

--Knight Hider

We could also see it from.a different point of view. BRICS could try to implement this experiment of a currency by investing on gold extraction and refining, so they can have enough liquidity in the future to supply to their currency and the markets interested.

Though, I won't deny China seems to have a problem with gold bar counterfeits, so it would be.more productive  if those are stored in Argentina or in Brazil, where there are not such unsavory precedents of Tungsten bars colored gold.

What is gold for? About 3 things:
1. Beautiful art works made of gold;
2. Money;
3. Industry, mostly electronics.

If you are using your gold for 1 and 3, there is no reason to trust BRICS or anybody but yourself and/or your company with your gold.

If you are using gold as a hedge for money, or as money, how will you use it as money?:
1. Find a country that accepts gold coin;
2. Find a country that accepts gold-backed currencies;
3. Find a company that will trade your gold for some currency.

Don't trust BRICS until they prove themselves trustworthy by those who take risks with BRICS... risks that you don't want to take. But, that's the same with any country or company. After all, once you trade your gold for the US Dollar, you are locking yourself into a guaranteed loss through inflation.

This comes down to one thing: do you trust BRICS with your gold? I don't.

--Knight Hider

More evidence that BRICS and foreign currencies are starting to seriously upend the USD.


Goodbye to the Bull Market for US Treasury Bonds

---

https://www.bloomberg.com/opinion/articles/2023-08-22/goodbye-to-the-bull-market-for-us-treasury-bonds?utm_source=website&utm_medium=share&utm_campaign=linkedin#xj4y7vzkg
Who knew that the subject of US Treasury bond yields could inspire such passion? When, in late June, I argued that they were likely to move considerably higher than the then-prevailing 3.75%, I attracted some vehement pushback. In a publication titled "Don't Be a Dud," analysts at Morgan Stanley insisted that the 10-year bond would experience a summer price rally, and that the yield would ultimately settle into a longer-term range of 2% to 3%.
...

---

I'm wondering if this will be open to the people of the US and Nato.


The BRICS Currency Project Picks Up Speed

---

https://www.zerohedge.com/geopolitical/brics-currency-project-picks-speed
Most recently, on June 2, 2023, the foreign ministers of the BRICS—as well as representatives from more than twelve countries—met in Cape Town, South Africa (interestingly at the "Cape of Good Hope"). Among other things, it was emphasized that they wanted to create an international trading currency. Undoubtedly, this is an undertaking that could have consequences of epic proportions.

After all, the BRICS countries represent about 3.2 billion people, approximately 40 percent of the world's population, with a combined economic output nearly the size of the economy of the United States of America. And there are also many other countries (such as Saudi Arabia, United Arab Emirates, Egypt, Iran, Algeria, Argentina, and Kazakhstan) that might want to join the BRICS club.

The goal of the BRICS countries is to reduce their economic and political dependence on the US dollar, challenging "US dollar imperialism."

To this end, they want to create a new international currency for commercial and financial transactions, replacing the US dollar as the means of transaction unit.

The reason is obvious.

The US administration has on many occasions used the greenback as a "geopolitical weapon" and engaged in a kind of "financial warfare": Washington sanctions enemy countries by denying them access to the US dollar capital market, but above all, it shuts them off from the international US dollar-centric payment system.

The freezing of Russia's currency reserves (the equivalent of almost six hundred billion US dollars is currently at stake) has set off alarm bells in many non-Western countries. It has reminded a number of them that holding US dollars comes with a political risk. This, in turn, has prompted many to restructure their international foreign reserves: holding fewer US dollars, switching to other (smaller) currencies, but above all, buying more gold.

...

How do you get BRICS gold? Those demanding BRICS gold must either get a BRICS gold loan from the BRICS Bank or purchase gold in the market and deposit it with the BRICS Bank or a designated custodian, and the gold deposit is then credited to his account in the form of BRICS gold.
...

---

If turns out this is true, a decentralized currency would make a lot of sense amongst BRICS because it creates a trustless system. They wouldn't be overly reliant on each others currencies for bilateral transactions. USD was always going to be dumped as the world reserve currency. Inflation set aside, their foreign policy over the last two decades make them an unreliable partner unworthy of holding any currency from. Biden's only made it worst over the last two years.

Consider that "everyone" has a phone. Even the poor people who don't have a place to live still have a phone, somehow. Combining the algorithms that Monero uses for privacy, with the phone SMS, along with the blockchain, could produce an easy-to-use, private, yet verifiable cash ownership method. Everybody uses the phone right now to get crypto and to trade with it. Just a few more steps and gold backed currency along with security and privacy would be available.

This process is too ambiguous and will make the currency less attractive to less technologically advanced nations. If the BRICS alliance gold-backed currency wants to compete favorably with the dollar it should be simple to identify and use. The online/electronic version of the money can serve as an alternative to the physical currency.

This news is based on speculation because no member of the BRICS nations has verified this move. We have had so heard so much about this alliance's intention to de-dollarize the world but all threats have not been backed with action. The BRICS summit in South Africa in August will be the litmus test of all this speculation. Having an alternative to the dollar will be good both politically and economically because the dollar has been misused by so many political actors. It will not be out of place to state that it has been weaponized.

My county solely depends on dollars for almost everything and when the currency is scarce the negative effect on the economy is usually bad. It is good to have some competition between these powerful nations because it will benefit developing nations. But I still doubt the BRICS currency's ability to tackle global inequality. The best currency for the world now should be a decentralized one.

I think this is a welcome development. The monopoly of the west is just so unbearing.  They practically control everyone and everything through their monetary policies and infrastructure.  One question I have to ask is: what will be the stand of World Bank in this regards? Do BRICS nation have the support of good number of government of the world for this to hold water? Well, let's see how this pans out.

They're doing everything they can to stop crypto. Another futile attempt.

^^^ I don't have all the answers, but...

Make the new currency to have a number on it that is connected to a blockchain to see where it was used last, and if it is truly available. This might include some form of identification for the person holding the currency. If you don't scan the number, and look it up on the blockchain, and check out the attached ID number (whatever), it's your own fault for accepting counterfeit currency.

Remember that Bitcoin had a successful physical coin going until the government made enough threats against the coin-maker until he shut it down. The US threats won't bother BRICS people.

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.

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.
...

---