Did you hear about the new BRICS gold-backed currency? I can’t tell you how many times I get this question. We’ve been hearing about this for years. Yet once again we find ourselves at the end of a BRICS conference and still nothing. On the contrary, we rather laughably have the story about Vladimir Putin unveiling the new “BRICS Banknote.” One slight problem though: it’s not real.
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#BRICS #gold #silver
source
22.01 Russia having Rupees is no problem
A third party can buy the Rupees, anyone that does trade with India
BRICS is about the control and power that will come from an alignance of countries that actually get off their arse and manufacture. The west are lazy. Don’t worry about currency as such, you can trade with goods. America is getting taught a big lesson, along with their alliances.
Hate to sound like a gold bug but gold is doing one of its catch up bull runs that typically last for a decade and when it does that it sometimes eve outperforms the SP500, what’s interesting is that it’s ripping higher even while the DXY is going up which is unusual as they are often considered inversely correlated. It might steal some global liquidity from bitcoin and mess up the normal cycles approach. I wouldn’t be surprised to see gold outperform a lot of assets in the short term, but the long term for btc looks very bright… I have managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin. in the space of a few months… I'm especially grateful to Francine Duguay's, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Happy Saturday
Aren't we lucky we are no longer censored on Twitter/X, unlike YouTube that censors channel creators and even target viewers for censorship
Bitcoin will be a joke in 10 years
It's the regular nothingburger. For now.
Spot on with nuclear fusion! I remember JET in the UK. It was almost a lifetime ago.😢
24.48
Mych surely it is Japan not China that holds American bonds?
25.44
Making countries team up against American reserve, is not prudent or rational
They are clever people, if you think they can't work out a new system, I frankly surprised
Standingon your laurels is a posture thst does not bode well in most cases
US debt buden's incteasing rate means they will have their beggng bowl out sooner or later
Giving Japan a 'facilty' to buy US bonds smacks of 'round-tripping to me'
But who am I? Nobody special 😅
I just looked at all the R currencies of the BRICS. The US dollar has been in a ten year bull market ahainst all of them. Meaning that gold is in an even stronger bull market against them. Chance of Gold Standard there is more or less zero. Perhaps a settling of annual trade balances in gold? Might be possible but needs to be more or less flat trade balance between them all for that. Might they ask for gold payment of trade supluses with the west?
The gold is for security as the fiat currencies all fail. Gold is the ultimate, persistent, way to hold some wealth without any duration, credit or liquidity risk. It does not depend on technology or energy and does not decay. No one has to monitor it or worry about cash flows, stale inventory, margin calls or management of it to maintain value. It does not require trust in a 3rd party. It's only requirement is that you hold it somewhere very secure.
BRICS because the alternative is the bullshit dollar.
It's not a gold backed replacement it's just the end of the US dollar and america as we knew it.
If you look on the Chinese and Russian central bank websites they're looking to go digital.
So much hype by commentators like Lionel, M64, Market S – all three have gold sponsorships, they have a reward to guide people to buy – even as most people say 5-20 years to see if Brics gets away from the USD 😞
Honestly I'm going to have to call BS on your BS. Have you done your research on what the greatest source of all things has to say about this brics thing? Have you been in touch with Anonymous Source Familiar With The Matter? Get back to me when you've done your research. Do better!!
Utica is pronounced you-tick-uh, Jack, not Oodicuh
These BRICS countries will keep their currencies. They may use a bridge currency when exchanging money, probably via blockchains like XRP or something like that. It is just a union to get out of the dollar system.
What a moron
American politicians don’t want to give up power either. Rigged elections, and dirty tricks to get to that.
You don't understand BRICS strategy. They are about to switch commodities trading platforms to the East shutting down COMEX and LBMA. What do you think that causes?
I believe the Brics countries will peg their local currencies to gold, which is priced by the USD. They can let USD do the pricing job without actually using USD.
In the past two years BRICS has gone from 5 to 9 countries to 22 countries surpassing 50% of the world population.
There are reported to be another 30 countries looking to join, so BRICS is not going anywhere.
They will have the majority of tangible assets and natural resources, and a workforce who are happy to produce goods rather than just shuffle papers around like in the west.
The dollar has been the world reserve currency for 80 years so it will take a number of years to break that stranglehold but they're getting there fast.
The idea is not to have a gold backed currency but rather for each country to have a minimum of 40% of their total reserves in gold?
Whether people like it or not is irrelevant, it's happening. The old empire is dying and a new one is emerging, assisted by the crazy monetary policies of the US.
Bitcoin? Unsubscribed
Man, Jack is killing it right outta the gate!
Bricshit
you don't need higher gold price…you just need more gold…if gold goes to $15,000 an ounce your going to see major mining investments…going to take time but not crazy.
Which will happen first, a new world trading system or total world collapse? I am thinking collapse, then all countries will need to figure something out. Until then, just inflate, inflate, inflate. 😢😢😢😢
Isn’t Super Micro just a Bitcoin trading company now? Do they have any other business left?
Nothing Boeing is reliable in the air or space… let's give 'em a raise.
Algorithms tow the government line.
No one wants a gold standard, why would they want a Bitcoin standard? Keep scheming.
The fact that students are doing bad things with knives and having to pass through security systems to enter schools tells of larger problems in society. It also programs them to accept invasive monitoring and restrictions from an authority.
#683🤙🤑🍉😊😊
And yet the dollar still going up
NASDAQ biggest bubble in history
There goes me thinking raw onions were somehow antiseptic
Lol this parrots the anti China will crash disaster economy like the Chanos, Hendry, chang etc
This comes from an uninformed clown! The BRICS plans don’t matter? They don’t need to make their own currency in order to out do USD, they simply need to bypass it, and trade amongst themselves, “which they are now”. And you said BRICS has nothing to do with gold going up? Are you brain dead or purposely trying to mislead people? BRICS is quietly buying up all precious metals, at a large, but yet modest pace, as to not alert the rest of the world until they have acquired what they need for currency backing, all the while not pushing prices too far up, but prices will absolutely continue to go up from here! I could literally write a 40 page report on how wrong you are, and completely naive to geopolitical events and environments. Your a clown.
RIGHT ON THE MONEY! too much debt for the central banks to lose all their power all at once. Gold and silver the power of the people against tyranny.
I’ll take “What is the Euro” for $200 Alex 🧐
I wouldnt be too worried about China trying to print their way out of a RE crisis. they are a totalitarian government that can simply make you disapear if you complain about your real estate loss.
The hubris of this guy is the same as his evil leaders 😂😅
It’s not about only BRICS currency, they will have their own central bank system similar to Swift.