BRICS gold backed currency

[zectech]

When is china going to get the socialist leaning nations in Latin America to nationalize their silver/copper/metal mines to be run by Chinese managers, the profits go to the people of those nations and the silver ends in Chinese exchanges. It is a coup of the century. China turns into the LME of Silver, and China can set the price as high as it wants to cornering the market of silver to the happy delight of Latin American poor people.

Yet, China is scared to anger Washington.

CGTN did a video on China gathering silver via trade for hundreds of years. I have that video. China can regain its status as the place silver pours into. Back your currency with silver and gold. Crush America and the UK.

 

[nahtanbob]

the profits go to the people of those nations and the silver ends in Chinese exchanges

<cough> <cough>
you really believe in the above
do you ?

 

[zectech]

What China has not figured out is that when you run low on silver globally, the value goes up.

In the middle ages and age of discovery, when you ran out of silver, you ran out of money.

Not so today. If the globe goes back to a global economy based on silver as money, the demand for the commodity (gold and silver) to back money would raise the value of that metal backing money exponentially with low global supplies. There were low global supplies at the end of the Ming Dynasty, though running low on silver globally was only catastrophic then. Globally running low on silver would now result in those silver holders being billionaires over night. The value of silver would keep raising until enough supply met demand. So there would be no need for government debt, your asset values would keep rising yearly with low silver supplies. So long as you tax in silver, having less global silver is ok. As silver values double due to low supply, having half the amount of silver in taxes would be equal revenues in taxes from the previous year.

So if China corners the market of silver in getting nationalization of Latin American mining with silver sent to China, and Latin America becoming rich, then once again China corners the Silver globally and returns to being the "largest silver vault". You replaced the Anglos as rulers of the financial industry with global support of a gold and silver monetary system.

 

[MH.Yang]

Western financial masturbation, and gold suppression is one example, has make nations much poorer while enable US to leech on the world. If gold real value is revealed, it could be 20x the current price level.

SA will be rich overnight,

Many of these mining nations are 3rd world, and they should be entitled their due wealth.

A side note. SA gold mineral reserve is heavily under estimated while China is over estimated.

SA gold mine are extremely rich in gold content while China mine has very low gold content. If SA use China accounting method, SA gold resource could easily 20x of China.


View attachment 940083

It is widely believed by major Western financial institutions that China's gold reserves have been deliberately concealed and underestimated by the Chinese government.

Based on SGE's import and export records, they calculate that the true figure of China's gold reserves is between 13,200 tons and 31,000 tons.

China Owns A Lot More Gold Than It’s Letting On | GoldBroker.com

In a world awash with money-printing, a currency backed by gold would have great credibility. And China – with designs on the yuan becoming the world’s reserve currency – has a lot more gold than anyone else. But how much?

goldbroker.com

China almost certainly owns more gold than the US – here’s why that matters

China almost certainly owns a lot more gold than anyone else – including the USA. But how much? And why does it need so much gold? Dominic Frisby explains.

moneyweek.com

https://www.sharpspixley.com/articles/lawrie-williams-does-china-hold-more-gold-than-the-usa_5032.htm

 

[MH.Yang]

What China has not figured out is that when you run low on silver globally, the value goes up.

In the middle ages and age of discovery, when you ran out of silver, you ran out of money.

Not so today. If the globe goes back to a global economy based on silver as money, the demand for the commodity to back money, gold and silver, would raise the value of that metal backing money exponentially with low global supplies as was true at the end of the Ming Dynasty.

So if China corners the market of silver in getting nationalization of Latin American mining with silver sent to China, and Latin America becoming rich, then once again China corners the Silver globally and returns to being the "largest silver vault". You replaced the Anglos as rulers of the financial industry with global support of a gold and silver monetary system.

China and South Africa have enough gold to support the gold standard, plus foreign exchange reserves and energy. The BRICS do not need to introduce silver into their currencies.

I'm more worried about corruption and inefficiency in the BRICS financial institutions than I am about gold and foreign exchange reserves. In all honesty, none of the other BRICS banks are trustworthy, except for the Bank of China.

I think the BRICS countries need to set up a full-time regulator to oversee the currency issuing banks of each country. And we need an agreement and a system to overhaul the corruption in the financial system.

 

[MH.Yang]

Very soon China and Russia will kick India out of both SCO and BRICS.

India is a slave of the West.

One day we will kick India out of the SCO, but we will not let India leave the BRICS.

Indians are also victims of the current system of global economic distribution, doing more work than Westerners but receiving only a small salary. India is equally a challenger when it comes to global economic distribution.

If Indians do not want to be squeezed by the old system forever, if they really want to become a developed country, they will certainly serve the BRICS organization in good faith.

 

[Skull and Bones]

Perspective, Imagination, Amnesia!

You said $12 Trillion... why not $5.00, $50.00 or $150 Trillion?
Quantity can go against Quantity but thin air keeps inflating... either there or nothing there!

On the flipside a quantifiable can ACTUALLY weigh against any other quantifiable object!

Chew on it.

 

[ProudThamizhan]

https://twitter.com/x/status/1676720110353137664

do people still watch RT?

One day we will kick India out of the SCO, but we will not let India leave the BRICS.

Indians are also victims of the current system of global economic distribution, doing more work than Westerners but receiving only a small salary. India is equally a challenger when it comes to global economic distribution.

If Indians do not want to be squeezed by the old system forever, if they really want to become a developed country, they will certainly serve the BRICS organization in good faith.

who is "we"? whoever it is should go get treated for naploeon syndrome.

 

[jhungary]

It is widely believed by major Western financial institutions that China's gold reserves have been deliberately concealed and underestimated by the Chinese government.

Based on SGE's import and export records, they calculate that the true figure of China's gold reserves is between 13,200 tons and 31,000 tons.

China Owns A Lot More Gold Than It’s Letting On | GoldBroker.com

In a world awash with money-printing, a currency backed by gold would have great credibility. And China – with designs on the yuan becoming the world’s reserve currency – has a lot more gold than anyone else. But how much?

goldbroker.com

China almost certainly owns more gold than the US – here’s why that matters

China almost certainly owns a lot more gold than anyone else – including the USA. But how much? And why does it need so much gold? Dominic Frisby explains.

moneyweek.com

https://www.sharpspixley.com/articles/lawrie-williams-does-china-hold-more-gold-than-the-usa_5032.htm

View attachment 940154View attachment 940155

View attachment 940157

Even if we are to believe the article, 25000 ton is between government and private ownership. Now ask your mother, would she be willing g to hand back the gold necklace or earring or your phone to the government?

Secondly 25000 tons of gold cannot support a gold standard when the world gold reserve is between 270,000 tons to 300,000 tons. Again, there exist a scenario that a private individual can have more than 25000 tons gold, Australia alone have 10,000 tons of gold (1000 ton mined + 9000 ton deposite) if china go back to gold standard your economy shrink from Being 10.5 times the economy of Australia (19 trillion vs 1.5 trillion ) to 2.5 times.....

But please, don't let my word fool you, I really want China to go back to gold standard, why not eat a bullet to the head to avoid being bully by the evil US lol

 

[MH.Yang]

Even if we are to believe the article, 25000 ton is between government and private ownership. Now ask your mother, would she be willing g to hand back the gold necklace or earring or your phone to the government?

Secondly 25000 tons of gold cannot support a gold standard when the world gold reserve is between 270,000 tons to 300,000 tons. Again, there exist a scenario that a private individual can have more than 25000 tons gold, Australia alone have 10,000 tons of gold (1000 ton mined + 9000 ton deposite) if china go back to gold standard your economy shrink from Being 10.5 times the economy of Australia (19 trillion vs 1.5 trillion ) to 2.5 times.....

But please, don't let my word fool you, I really want China to go back to gold standard, why not eat a bullet to the head to avoid being bully by the evil US lol

You should consider the gold reserves of other BRICS countries. China and South Africa rank first and second in global gold production. India and Russia also have very large gold reserves. If the BRICS countries issue a new global currency using gold and foreign exchange as collateral, it will have no less influence than the euro.

 

[jhungary]

You should consider the gold reserves of other BRICS countries. China and South Africa rank first and second in global gold production. India and Russia also have very large gold reserves. If the BRICS countries issue a new global currency using gold and foreign exchange as collateral, it will have no less influence than the euro.

You should then consider gold reserve and gold mined in all Western Countries, it's not about production it's always about how much gold you can produce, Because production stop when you are out of reserve.

Gold mine reserves by country worldwide 2023 | Statista

Australia has the largest gold mine reserves worldwide, with the country's reserves having amounted to an estimated 12,000 metric tons in 2023.

www.statista.com

And then look at how much world reserve bank hold on to gold

Gold Reserves - Countries - List

This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Gold Reserves. This page provides values for Gold Reserves reported in several countries. The table has current values for Gold Reserves, previous releases, historical highs...

tradingeconomics.com

US + Canada + Australia alone hold more deposit reserve than BRICS combine, not to mention other western countries gold deposits. And then there are WAY, WAY more gold being hold in the US Central bank alone than BRICS combine. Which mean in term of deposit and reserve, BRICS don't have control over gold. And then that is before the 90k tons private ownership kicks in.

And as I said before you can't offer gold reserve backed currency with forex as collateral, because either you will have them separated and work as a separate entity, so China would have RMB and BRICS currency as official currency and you cannot exchange between them or you have that currency backed by gold also backed by RMB, then these two entity can be exchanged, but seeing you only get around 60 billion worth of gold and about 3 trillions of forex and 18 trillion GDP, that gold value does not add much into this equation.

Not to mention if Zuck, Bezo and Musk somehow work together, they can buy 30,000 ton of gold and basically fuk with your gold backed currency, because 30,000 ton of gold is only 1.4 trillion dollars.

But hey, go for it, I fully support China revert back to gold standard.

 

[Song Hong]

BRICS currencies also a wishlist not just for sovereign government but 3rd world elites. Many people do not know there is one more dirty trick of white man confiscation -- banking institution bankruptcy.

It was speculated that white man deliberately engineer SV bank bankrun to collapse it because there are large amount of Chinese deposit.

15 years ago, white man deliberately crash Lehman because it manage funds for Arabs.

So ALL white man currency never mind Euro and USD is not safe. You are just a target for confiscation.

 

[Song Hong]

You cannot compare SA mines with Australia mines or Chinese mines. SA deliberate hide her value.

SA biggest -- Mponeng is 9 g/t while Australia biggest -- cadia mine is 0.4 g/t.

Many China mines are 0.2 g/t grade.

Using China account method, SA could have 20x China mineral resource.

If going some sort of gold backing, Brazil SA and Russia will be the currency minter.

 

[MH.Yang]

You should then consider gold reserve and gold mined in all Western Countries, it's not about production it's always about how much gold you can produce, Because production stop when you are out of reserve.

Gold mine reserves by country worldwide 2023 | Statista

Australia has the largest gold mine reserves worldwide, with the country's reserves having amounted to an estimated 12,000 metric tons in 2023.

www.statista.com

View attachment 940163

And then look at how much world reserve bank hold on to gold

Gold Reserves - Countries - List

This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Gold Reserves. This page provides values for Gold Reserves reported in several countries. The table has current values for Gold Reserves, previous releases, historical highs...

tradingeconomics.com

View attachment 940164

US + Canada + Australia alone hold more deposit reserve than BRICS combine, not to mention other western countries gold deposits. And then there are WAY, WAY more gold being hold in the US Central bank alone than BRICS combine. Which mean in term of deposit and reserve, BRICS don't have control over gold. And then that is before the 90k tons private ownership kicks in.

And as I said before you can't offer gold reserve backed currency with forex as collateral, because either you will have them separated and work as a separate entity, so China would have RMB and BRICS currency as official currency and you cannot exchange between them or you have that currency backed by gold also backed by RMB, then these two entity can be exchanged, but seeing you only get around 60 billion worth of gold and about 3 trillions of forex and 18 trillion GDP, that gold value does not add much into this equation.

Not to mention if Zuck, Bezo and Musk somehow work together, they can buy 30,000 ton of gold and basically fuk with your gold backed currency, because 30,000 ton of gold is only 1.4 trillion dollars.

But hey, go for it, I fully support China revert back to gold standard.

I'm afraid you forget that China is a surplus country. We're not running out of gold, it's only growing. Just like the US after WWII, which accumulated more and more gold through the gold standard and surpluses.

 

[Song Hong]

I always say. right now FED is doing minting and mining.

This is tyranny.

Rather transfer the minting rights to SA and Russia and Brazil.

Russia has plenty of high grade mines in Siberia.

I got a suspicion China has lots of high grade mines in Tibet. China make it a secret and not wanting to mine it.