BRICS To Announce New Gold Standard in August?

#money #currency #dollar #gold #commodities

Today we will briefly look at the Petrodollar system and how I have been warning that China would challenge it on this channel.

I will also reference a recent article by Jim Rickards in which he says the BRICS nations and the other countries looking to join will be announcing a new currency at their summit in August.

My conclusion is that the BRICS, under the leadership of China and Russia, could launch a new system but not a new BRICS single currency.

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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.

[james.atkins]

BRICS wants to build a new currency. It is also worth noting that gold has historically been used as a store of value and a means of exchange, and some countries still hold significant amounts of gold in their reserves. However, it is unclear how a new currency backed by gold would function in the current global financial system and whether it would gain widespread acceptance. Ultimately, any decision to create a new currency would be subject to numerous economic, political, and logistical considerations.

[benjaminmale]

I sure hope they keep bashing the metals Loaded up on a tube of Britannia's & a gold sovereign yesterday 🥇😁🥈

[clownworld]

.What can a CBDC do that standard fiat cannot?
1. Customized for individuals
2. Can be frozen or seized
3. Holding can be limited
4. Tax can be automatically taken
5. Fines can be automatically taken
6. Purchases can be controlled
7. Expiry dates can be applied
8. Limits on spending can be set
9. Location limits can be applied
10. Time limits can be set

[AwakenedOne-qu]

A gold based currency would destroy the dollar. The BRICS countries have been accumulating gold at a breakneck speed. So if you want to destroy America, a gold backed currency would do it.

[imbonkers]

No matter what currency they come up with, even cbdc it’s a I owe you nothing currency, if you can’t swap it for gold 🙈

[agwillie]

The BRICS will not announce a new gold standard in August. They’ll want to quietly accumulate as much precious metal as long as they can and keep it under wraps. Hope I’m wrong btw but I’ve been watching the PM markets for decades now and these things never materialize in a predictable way.

[highbrass]

The problem with a gold backed currency is well, governments are full of crap.

[michaelsalazar]

Thanks for all the news sir. Good morning!

[Bevsmith]

ACU countries are leaving the SWIFT system and moving to SEPAM to avoid future sanctions as a first step.

The BRICS gold back/ basket of currencies and commodities will follow.

[kevinw]

Something is definitely in play. All I know is World Banks buy gold for one reason, self-preservation. The same reason I do!

[jimumble]

Thanks, Mr. Mario. Listening to you makes me feel smart

[habyalexandru]

Get money out of the banks Buy gold and silver

[innerdinosaur]

Good morning Mario good morning Everyone and a big hiyah for Rudy 🦖✌️

[edhagel]

Where is all this Gold coming from. That these countries are Buying

[davebellamy]

Wouldn't it be great if YouTube offered content creators the option to block automatically all comments containing certain keywords, like the names of these crypto scams?

[janiceolds]

'Tower of Basel', a book you mentioned some time ago, is incredibly insightful. Great read

[jonathanlee]

👍Yes, I agree. Creating a completely new multinational currency is too complicated and thorny a perilous task. It would be more straightforward to move closer to an interchangeable gold monetary system -- such as convertibility/accounts on the Shanghai, Moscow and Dubai gold exchanges.👍

[shawncorreia]

If these central banks in the Eastern world are buying all this gold, who is selling their gold? Or is mining able to keep up with the higher demand for gold?

[bubba]

Don't interrupt your adversary while he is destroying himself

[peterbrunsgaard]

Good morning Mario, Rudy, and everyone! ☕️☀️