Gold/Silver Run
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Well it isn't even sure they will pondering the BTICS over gold!
source:When Will the BRICS Currency Be Released? Plans and Potential Impact
It may be to early to speculate in this direction!
source:When Will the BRICS Currency Be Released? Plans and Potential Impact
It may be to early to speculate in this direction!
They can't back it by gold...
They can price it to the price of gold, opposed to the price of the $.
They can price it to the price of gold, opposed to the price of the $.
Last time a country tied to back their currency up in gold , Libya, to remove the entire African region from the US dollar, it ended in the destruction of the entire region as well as the end of Gaddafi.
I am guessing, introducing the BRICS+ currency backed by some sort of gold reserves , will certainly not be easy and will cause a similar political unrest in several regions thanks to our democratic friends.
https://millenium-state.com/blog/2019/05/03/the-dinar-gold-the-real-reason-for-gaddafis-murder/
https://africacheck.org/fact-checks...i-plan-introduce-african-currency-backed-gold
I am guessing, introducing the BRICS+ currency backed by some sort of gold reserves , will certainly not be easy and will cause a similar political unrest in several regions thanks to our democratic friends.
https://millenium-state.com/blog/2019/05/03/the-dinar-gold-the-real-reason-for-gaddafis-murder/
https://africacheck.org/fact-checks...i-plan-introduce-african-currency-backed-gold
Whenever that will be 🙄
Even if it will happen at some point in the very distant future, who would want to trust such a currency, considering the current and potential future members of this "organization".
Btw., Not even it's own founding members are united when it comes to "de-dollarization" -> De-dollarization still a long way off, Indian minister says after BRICS talk of︀ a common currency
Even if it will happen at some point in the very distant future, who would want to trust such a currency, considering the current and potential future members of this "organization".
Btw., Not even it's own founding members are united when it comes to "de-dollarization" -> De-dollarization still a long way off, Indian minister says after BRICS talk of︀ a common currency
Indian would take the BRICS curreny any time but they are receiving now a lot of love from USA so they would be stupid to declare them as enemy.They are riding the train in︀ the middle of both groups to get benefits from both sides.
Best choice they could︁ make.
BRICS currency is only a tool to bring the new final multipolar currency system︂ closer.
The question i only have is if USA is supporting this step which seems︃ very likely else they would preper themself a new currency linked to gold and not︄ offer the fednow garbage.They are fully aware that this will suck out wealth of normal︅ people and lead many countries to leave the USD.So in my eyes they do it︆ with full intention to create a multipolar monetary system however they are positioning themself for︇ the best possible start after the final transformation.
In my eyes they clearly cowork on︈ the new monetary system which also showed that china was considering libra as the blockchain︉ for their digital yuan.
Best choice they could︁ make.
BRICS currency is only a tool to bring the new final multipolar currency system︂ closer.
The question i only have is if USA is supporting this step which seems︃ very likely else they would preper themself a new currency linked to gold and not︄ offer the fednow garbage.They are fully aware that this will suck out wealth of normal︅ people and lead many countries to leave the USD.So in my eyes they do it︆ with full intention to create a multipolar monetary system however they are positioning themself for︇ the best possible start after the final transformation.
In my eyes they clearly cowork on︈ the new monetary system which also showed that china was considering libra as the blockchain︉ for their digital yuan.
It is highly unlikely that there could be a so-called BRICS currency that would be trusted and used by many people or banks. The reason is simple: dictators don't trust anyone, including other dictators, so to agree upon something so important as a common currency can take ages. Even EU countries in the recent years returned home their gold reserves, so you can forget about gold backed currency. Anyway a currency that claims to be backed by gold but doesn't mint physical gold coins like sovereigns is a scam.
You don't understand the mechanics behind it.
BRICS currency does not︀ need to actually be really backed with physical gold.
What it will cause is that︁ the exports from BRICS countries which has a yearly excess rate of arround 9 trillion︂ USD per year can't be taxed by USD inflation anymore.
Since BRICS currency will be︃ officaly counted in gold it means that the western countries who have USD build in︄ their currency (Reserves) will have to pay their import in gold which means at a︅ 9 trillion USD excess export of all BRICS nation the US gold reserve would dry︆ out within 3 years.
So what we will be forced is A) Reduce massivly imports︇ from BRICS nation if you don't have their currency and secondly increase the price of︈ gold massivly to reduce the amount of gold needed to pay the excess trade balance︉ of the BRICS nations which have the BRICS currency.
Also once its implemented many nations︊ will swap their USD Reserves into Yuan or BRICS currency weakening the USD and changing︋ the world monetary system from an unipolar to a tripolar.
In the end it will︌ cause a super cycle for commodities
BRICS currency does not︀ need to actually be really backed with physical gold.
What it will cause is that︁ the exports from BRICS countries which has a yearly excess rate of arround 9 trillion︂ USD per year can't be taxed by USD inflation anymore.
Since BRICS currency will be︃ officaly counted in gold it means that the western countries who have USD build in︄ their currency (Reserves) will have to pay their import in gold which means at a︅ 9 trillion USD excess export of all BRICS nation the US gold reserve would dry︆ out within 3 years.
So what we will be forced is A) Reduce massivly imports︇ from BRICS nation if you don't have their currency and secondly increase the price of︈ gold massivly to reduce the amount of gold needed to pay the excess trade balance︉ of the BRICS nations which have the BRICS currency.
Also once its implemented many nations︊ will swap their USD Reserves into Yuan or BRICS currency weakening the USD and changing︋ the world monetary system from an unipolar to a tripolar.
In the end it will︌ cause a super cycle for commodities
You really don't understand the mechanics.
It's not about if the west accepts it or not.It's the west which needs resources which BRICS have.
Take an example like germany.ZERO own resources but a high effective industry which needs massive amounts of raw materials to keep its industry going.
If they don't buy raw materials they can't︀ produce .Easy as that.
So they will be forced to play by the rules of︁ BRICS.
Of course they won't give all their gold out so thats why you can︂ expect the two points i already mentioned above.
There is a reason why many big︃ resource intensive companies moved/moving out of europe .
Its the same with crypto which i︄ try to explain for a long time.It's not the people who will decide which crypto︅ will succeed in the end but the companies who control the resources people need for︆ living.
It's not about if the west accepts it or not.It's the west which needs resources which BRICS have.
Take an example like germany.ZERO own resources but a high effective industry which needs massive amounts of raw materials to keep its industry going.
If they don't buy raw materials they can't︀ produce .Easy as that.
So they will be forced to play by the rules of︁ BRICS.
Of course they won't give all their gold out so thats why you can︂ expect the two points i already mentioned above.
There is a reason why many big︃ resource intensive companies moved/moving out of europe .
Its the same with crypto which i︄ try to explain for a long time.It's not the people who will decide which crypto︅ will succeed in the end but the companies who control the resources people need for︆ living.
What do you make of this @369
https://finance.yahoo.com/news/dollar-being-dethroned-india-just-201500390.html
https://finance.yahoo.com/news/dollar-being-dethroned-india-just-201500390.html
Yep, the outlook looks uncertain 🙄 Even if it materializes in the distant future, putting faith in such a currency with existing and potential members is still a matter of concern. suspect.
Sorry i wasn't online earlier.
BRICS are creating a market.Currently Russia has tons of rupees they got for selling their oil to india which they can't spent all on curcuma 😀 so there needs to be some countries added with diffrent products and needs so every currency can have in the end a considered even balance
BRICS are creating a market.Currently Russia has tons of rupees they got for selling their oil to india which they can't spent all on curcuma 😀 so there needs to be some countries added with diffrent products and needs so every currency can have in the end a considered even balance
But the article doesn't tell you that who they purchased it from exchanged the Rupees back to USD via a Forward Rate Agreement that they agreed at the same time as the Rupee for Oil agreement. Too much one-sided propaganda around BRICS.
You can't establish a fully working market with no USD involved in a single day.
BRICS active market is growing and they are already excepting non USD currencies officaly.
Which means at one point when the total market is big enough and balance sheet of their currencies won't have big abundance of another countries currency they will simply remove the USD completly.
Of course the process to this point doesn't take a day︀ or even a single year but its moving fast forward.
Please also remember how USA︁ acted when Iraq wanted to get EUR instead of USD for their Oil.
It's a︂ major change on USD which can't be stopped anymore.
BRICS active market is growing and they are already excepting non USD currencies officaly.
Which means at one point when the total market is big enough and balance sheet of their currencies won't have big abundance of another countries currency they will simply remove the USD completly.
Of course the process to this point doesn't take a day︀ or even a single year but its moving fast forward.
Please also remember how USA︁ acted when Iraq wanted to get EUR instead of USD for their Oil.
It's a︂ major change on USD which can't be stopped anymore.
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