BRICS gold backed currency

[the_messenger]

The total value of gold reserve is too small, however, if the new currency only used as a medium to trade of a block of countries it may works

 

[Song Hong]

The total value of gold reserve is too small, however, if the new currency only used as a medium to trade of a block of countries it may works

Once it back currency -- its true value will be revealed, at least 20x current value.

It will be able to back whole world currency.

COMEX future is using trading 500x the physical market value just to suppress gold.

 

[jhungary]

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.

And you forgot gold is a tangible item. There is a point where you will run out of gold when ALL 270,000 tons GOLD WERE USED UP. You cannot make gold out of no where

And this is the exact reason why gold standard is dropped in the first place. And now half of the world gold ownership is private and that is the second issue here, but hey, again as I said, I have no problem China going back to gold standard.

 

[That Guy]

A gold backed currency won't work in the modern economic setting. BRICS nations could potentially lose trillions.

 

[Abdul Rehman Majeed]

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.

Indians are slaves.

Slaves don't fight for independence.

 

[OldenWisdom...قول بزرگ]

And you forgot gold is a tangible item. There is a point where you will run out of gold when ALL 270,000 tons GOLD WERE USED UP. You cannot make gold out of no where

And this is the exact reason why gold standard is dropped in the first place. And now half of the world gold ownership is private and that is the second issue here, but hey, again as I said, I have no problem China going back to gold standard.

Fallacies and fairytales j!

Dollar is backed by faith, and power... kinetic and institutional of United States!
The faith part is obliterated by actual intrinsic value of precious metals. No amount of paper can fill the void once global economy is translated and mapped in gold or other precious metal.
Another fallacy, endless paper was needed because gold wasn't enough, NO! Endless paper was printed on the back of gold standard, perpetuated by the U.S. when it simply wasn't there... in other words Nixon switched faith in U.S, to force and might to back it up... having China/east Asian economies take endless inflation for goods and services, having opec transact only in U.S dollar!
Another one... bitcoin!
Ever imagined how limited mining and a ceiling allows it's valuation to balloon in front of paper currencies?
Exactly! The true global impact of gold standard will balloon it's valuation according to it's scale...
let that sink in!

Lastly, institutional and military might is being challenged in the earnest.
Remember economic value is, at the end of the day, for people! Global south has both people and resources... lastly, they're organizing!

Now for that skeleton seeking a pyre for his moksha!
@Skull and Bones
I didn't know for how long you'd been lurking to ambush a post of mine... you had your day! Now wallow in the filth you came from...

 

[tower9]

India will blow up brics from the inside it is the west’s Trojan horse

 

[zectech]

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.

So long as the silver is extracted by multinational anglo controlled corporations and sent to exchanges in London and US, the manipulation of the price of silver to suppress it to make the dollar appear strong is going to continue, since the anglos control the exchanges and control the price manipulation at those exchanges. Read my above posts on how to get the silver to be traded in China on a Chinese exchange.

The US controls geopolitics via dollar diplomacy, petrodollar, financial dominance resulting in economic, military and societal dominance. Washington and London are fully aware that gold and silver would break the dollar dominance and put their full effort at suppression of the price of silver and gold.

Therefore you have to cut out the anglo middletrader, go to the Latin American mines, have their socialist leaning governments nationalize them, and send the silver straight to China with the mines managed by Chinese. This could easily result in the downfall of the American Empire, if China plays the cards right.

Here is a mainstream article exposing a tiny tip of the iceberg of manipulation.

https://www.thestreet.com/opinion/silvers-history-of-suppression-10787499

The globe was ready to jump on gold and silver from 2008-2012, this was when China was bankrolling the survival of Anglo "governments" and global financial control, using Chinese and Arab backing of Anglo banking and finance and bankrolling US debt to save the dollar during the peak weakness and vulnerability of the Anglo-American "governments", vulnerability to gold and silver.

Gold was ready to go over 10K then and Chinese and Arabs gave stability to the US markets, Anglos used this to manipulate the prices. Silver was ready to go over 1000 then. The only reason for the existence of the US "government" is the dollar dominance or planned bitcoin dominance (the new central bank) via the suppression of the price of gold and silver.

From controlling money, the Anglos control finance, from there industry and commerce. From there military strength, from there war and occupation. Destroy cia bitcoins, destroy the dollar, and Anglos run for the hills. The Libertarians were routing the Anglos from 2006-2012. Total rout, it took years to rebuild the financial institutions. And it took Chinese betrayal of anti-Anglo resistance in Chinese bankrolling the Anglo criminals. And the Saudis saved failing banks.

Why did the banks fail, because they were used for the most important issue - Anglos risked the solvency of their banks on bets to suppress the price of silver and gold. To explain how important it is to make gold and silver money to defeat the anglos. The Anglos sacrificed the banking system to keep down gold and silver. Historic money, historic value - gold and silver. The threat to the dollar. The main threat to the Anglo. The cia had to invent a new replacement of the dollar - bitcoin, from the 2008 crisis. Because the anglo banking/finance system almost was lost and replaced with gold and silver.

Gold And Silver Shorts Were The Real Demise For Bear Stearns

Michael Campbell's MoneyTalks Podcast. Financial commentary of stocks, equities, real estate, and commodities such as gold, silver, and other precious metals.

mikesmoneytalks.ca

Why the Collapse of Bear Stearns Changed the Silver Market Forever

JPMorgan unwittingly set the stage, 10 years on, for a historic silver price rally.

goldsilver.com

Many many articles on this. While China was focused on getting rich with the Anglos, saving the Anglos from defeat, trying to give the anglos 1000 years of rule over the globe... libertarians were destroying the criminal rigged financial racket of Anglo banking and finance. In 2008, Anglos were defeated, it took outside help to support it, to rebuild it. It took the Chinese bankrolling the Anglo recovery. It took Saudi seemingly endless oil wealth to rescue Anglos. China not going to gold and silver 15 years ago saved anglos. China is responsible for the designated bitcoin replacement of the dollar, the new central bank. From a "Japanese dude" with a name that translates literally to Central Intelligence. Do you know the difficulty to get Anglo libertarians to seek to destroy the very system that benefits them. The Anglo empire struck back, MAGA and the Sarah Palin tea party mopped the anglos to be typical racist and brain dead again. The more gold and silver is manipulated to lose money to precious metal interested investors, the less China has in supporters that went to cia bitcoin with near guarantee returns of 1000X your original bet or more. The game is rigged by Anglos when the dollar collapses, money flows not to gold and silver, the money flows to bitcoin to be the new replacement of the federal reserve. China is way late in this. And China and BRICS are tainted in supporting cia stooge Putin. The deepstate of anglos lose their minds when gold goes up 5 times or more, they are in severe panic mode. Yet when bitcoin goes from pennies per bitcoin to tens of thousands per bitcoin, you get the SEC promoting bitcoin the only approved crypto commodity. Again Washington picking their own as "Washington approved winners" and ignoring the rest. Racket, rigged, cheated, gamed system.

Yes as you said, as demand increases, the "market cap" or total value of gold would rise into the tens and hundreds of trillion of current dollars. By making gold and silver as the only money would make demand rise and value to increase, much like how bitcoin was once worth pennies and now is 30.000. Something similar would happen to silver and gold. Owning a high amount of silver and gold would make you a millionaire or more. Bitcoin is the "replacement agenda" of anglos to replace gold and silver, name the party that wants to suppress gold and silver - Anglos. And you find the cia are behind bitcoins. Jews are the patsies, partners in crime. Anglos are the real culprits.

The Chinese have too much Marx communism on their brain. There is no Asian race, Nor is there a European race. There are many races in Asia. There are many races in Europe. Anglos are not white, anglos are from north of Beijing. They broke off from their Native America brothers in Siberia. Native Americans went East. The ancestors of Anglos went West. They once look like East Asians, then with leaving a trail of raping and looting, because the Chinese kicked out the barbarians from East Asia, the anglos got European features over thousands of years of rape. You can tell because you can look at the original mtDNA that East Asians (including Anglos) had. The barbarian tribes no long have the East Asian women they brought with them to East Asia. The barbarians kept picking up new women from the local population where the men disappeared to sword and slaughter and the women were acquired by rape. I can easily point these mtDNA out that East Asians brought to East Asia from the Middle East or further on into Asia. Anglo ancestors gave birth to the Huns and Xiongnu. Anglo ancestors left China tens of thousands of years ago as barbarians, gave birth to the barbarian tribes such as Huns and Xiongnu and were the most murderous of all time -

Story of most murderous people of all time revealed in ancient DNA

Starting 5000 years ago, the Yamnaya embarked on a violent conquest of Europe. Now genetic analysis tells their tale for the first time

www.newscientist.com

Anglos are not white, anglos are not European, they are a branch race of turkic celto-slavs, a branch from China. That you guys most likely kicked out of East Asia and thus unloaded on us. You did not defeat them, they are still among us, you kicked them out of your territory back when they were proto-Turks. So this white man this white man that, of leftist communism is nonsense. The enemy is the anglo. The Anglos support hating whites in general for anglo crimes. If you were as criminal as Anglos wouldn't you like to blame modi for your crimes, Asians are to blame in general for your crimes. That is the nonsense white man crap. There are 4 or more races in Europe. The white men are the Caucasians from the Middle East and Caucasus. So this Chinese fake belief, "whites that oppose anglos are 5th columnists against their own race" is a slander and lie. The anglos have othered Europeans since Henry VIII. Since the anglos founded their own religion to serve only anglos - Anglicanism. And go figure the ruler of this Anglo-American empire that the mi6 and cia serve is the leader of that false church - the "king or queen" of england.

These are the 5th columnists - the Irish celts and scottish celts. So promoting Catholicism to Irish is driving a wedge into anglo dominance. Promoting pro-EU in Scotland is driving a wedge into anglo dominance.

These refuse to be ruled over by their celtic brothers in London.

"White European man" against anglo Trump and anglo MAGA and anglo cia and anglo mi6 are not 5th columnists. The Chinese rapefugees that turned into Anglos and oppose the British "Crown" are the fifth columnists against their own race. So please no of this white man crap. Are Chinese white man.? If not, anglos are not white man.

White Europeans are Middle Easterners. White man are those from the Middle East. The China man in Europe are the Anglos, they had East Asian features and skin color 40000 years ago.

Genetic testing reveals that Europe is a melting pot, made of immigrants

Genetic tests of ancient settlers' remains show that Europe is a melting pot of bloodlines from Africa, the Middle East, and today's Russia.

web.archive.org

The Caucasians were from the Middle East. The Nordic hunter Gathers were the first main race in Europe and were from the early humans in the Middle East. The Steppe barbarians from Russia were from Siberia and China. And the North African immigrants were from Africa. 4 races. Then there are 2-3+ minor races. Same as Asia, Asia has 4-5+ races. 3-5+ minor races. Asian man Saddam Hussein invaded Kuwait, revenge against Asian man, by bombing Asian man in China or India. Punish the Asian race for the crimes of Saddam Hussein. This is where mentally retarded woke communist anti-white propaganda is. If you have "Asian skin", you are privileged, end Asian or in this case white privilege. You know where communist end white privilege is targeted against - not Jews, not Anglos, it is targeted at Europeans the Anglos want to eliminate. Name the Anglo-American and you have hit the target. Name the white European man and you are far away from the target as possible.

Don't believe me, tell me the race of Tianyuan man.

Tianyuan man - Wikipedia

en.wikipedia.org

The Tianyuan man was either one of the ancestors of Anglos or a relative of the ancestors of Anglos. Living in China 40.000 years ago. Tell me the race. Anglos are from Siberia, from north of Beijing. Barbarian lands. Barbarians that were likely kicked out by ancestors of Chinese and dumped onto the rest of the globe. Chinese did not solve the problem, only made the problem worse by dumping the barbarians on us.

Why are anglos so evil, barbarians are gonna barbar. Barbarians are evil, have no morals. Have to submit to a civilized good and moral society, if they break free as Henry VIII did, they go barbarian again. You can't fix stupid, you can't fix barbarian. So end your Chinese war on Pope Francis too. China is making too many enemies for this gold money to be a sounding success. Anglos are the enemy, and are using covert war against Europe to influence Europe. Putin is the same as wagner, a cia asset, used to weaken enemies of London and Washington, to keep rivals and foes weak.

Take a guess Modi's ancestry - from the same barbarian tribe Anglos originated from in Siberia.

Do you believe in the "Chinese are Genghis Khan 'mon. Chinese look like Genghis Khan, therefore are Mongols too." DNA shows otherwise, Genghis Khan was of a completely different race than Han Chinese. Han Chinese are from the Middle East distantly race related to people like Thomas Jefferson having a common paternal ancestor over 40000 years ago, about 50000 years ago Han Chinese and Thomas Jefferson had the same male ancestor, the ancient Mongols already existed for tens of thousands of years as probably barbarians then. The race of the Mongols are the most ancient barbarian race of man, responsible for the genocide of Neanderthals based on Korean computer modelling. And probably responsible for the disappearance of the Denisovans too based on barbarity of killing off the Neanderthals. I was speaking with a mod at a DNA forum and this moderator said the ancient Mongols had the superior weapons that would have been able to be used to wipe out a continent of Neanderthals and Denisovans. And then this same race did the Mongol invasion years later, and many genocides. Don't ever expect Anglos to not behave as genocidal barbarians. And they are not white man, they are from north of Beijing, the barbarian regions.

So please enough of this white man stuff. Name the real usual suspect - Anglos.

 

[jhungary]

Fallacies and fairytales j!

Dollar is backed by faith, and power... kinetic and institutional of United States!
The faith part is obliterated by actual intrinsic value of precious metals. No amount of paper can fill the void once global economy is translated and mapped in gold or other precious metal.
Another fallacy, endless paper was needed because gold wasn't enough, NO! Endless paper was printed on the back of gold standard, perpetuated by the U.S. when it simply wasn't there... in other words Nixon switched faith in U.S to force and might to back it up... having China/east Asian economies take endless inflation for goods and services, having opec transact only in U.S dollar!
Another one... bitcoin!
Ever imagined how limited mining and a ceiling allows it's valuation to balloon in front of paper currencies?
Exactly! The true global impact of gold standard will balloon it's valuation according to it's scale...
let that sink in!

Lastly, institutional and military might is being challenged in the earnest.
Remember economic value is, at the end of the day, for people! Global south has both people and resources... lastly, they're organizing!

Now for that skeleton seeking a pyre for his moksha!
@Skull and Bones
I didn't know for how long you'd been lurking to ambush a post of mine... you had your day! Now wallow in the filth you came from...

Dude, you are saying I should use something that I have a lot and use it as currency so I can be free from other rule and I dictate the game. Jeez, why can't people think of that earlier? Then everyone can be king of the world, am I right?

Except the world dont play THIS game THIS way. The problem for your argument is a very simple question. Trade is a 2 way street, and that's all fine and dandy for you to use something you have abundant as currency to trade but what's in it for me?

This is the same question you are asking "why the world need to use US dollar to trade?" When it obviously benefited the US. That's the same question, you are just phasing it to your own advantage.

Normally , I would write a bunch of words about economy and try to explain to you why gold standard is a bad idea and we had moved on from it since 1940. But this time I will just leave you this "How does it work for a gold standard to country that have no gold or just a little amount of gold in the system, and how you would be able to persuade them to join said system that they don't have any backing at all?"

And that's a lot of countries we are talking about only 7 out of 198 countries have 4 digits tons (ie 1000+) of gold in their reserve, so you are to basically talk 99% of this world to get in a currency system that they literally have no control of, which is the same for them to keep using USD.


GOOD LUCK TRYING TO DO THAT.

 

[my2cents]

Banks lend more money than deposit it has. Let alone if necessay, China can use its huge foreign exchange reserves

Lets make every country who wants to join BRICS deposit 1 billion dollars in a fund that will be used for insurance and for lending. . Big countries will deposit more.

Algeria applies to join BRICS, would contribute $1.5 billion to group bank

Algeria has applied to join the BRICS group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion, Ennahar TV quoted Algerian President Abdelmadjid Tebboune as saying.

www.reuters.com

 

[OldenWisdom...قول بزرگ]

Dude, you are saying I should use something that I have a lot and use it as currency so I can be free from other rule and I dictate the game. Jeez, why can't people think of that earlier? Then everyone can be king of the world, am I right?

Word salad... for your own consumption dude!

Trade is a 2 way street,

that it is!

and that's all fine and dandy for you to use something you have abundant as currency to trade but what's in it for me?

two way street ... you said it, right?
Eat your gold away! What is money except a medium to transact in... stored value delivered for goods and services. Either You'll have something that I want or a stored value in lieu of...

This is the same question you are asking "why the world need to use US dollar to trade?" When it obviously benefited the US. That's the same question, you are just phasing it to your own advantage.

Packing peanuts!

Normally , I would write a bunch of words about economy and try to explain to you why gold standard is a bad idea and we had moved on from it since 1940.

Bunch of words it is!
Since U.S. didn’t leave gold standard by choice...

Read, Nixon Shock!

But this time I will just leave you this "How does it work for a gold standard to country that have no gold or just a little amount of gold in the system, and how you would be able to persuade them to join said system that they don't have any backing at all?"

Read above... I know the length and breadth of your argument. Here's an idea get some new out of your hiney!

And that's a lot of countries we are talking about only 7 out of 198 countries have 4 digits tons (ie 1000+) of gold in their reserve, so you are to basically talk 99% of this world to get in a currency system that they literally have no control of, which is the same for them to keep using honey!

Instead, it was U.S that distorted the market and prices gold amongst other precious metals in an ever inflationary instrument. It is this instrument that thus far has mapped and measured the output of goods and services and therefore controls/manipulates pricing/valuation of markets.

GOOD LUCK TRYING TO DO THAT.

Boohoo, The dingo ate my baby.
j man... deceptive by choice!

A true kamikaze! didn't hit the abort when you should have...

 

[my2cents]

If Yuan become world reserve currency, China will need to run deficit. Another side effect is China will need to de-industrialized.

I guess China do not want that.

India has same reservations with BRICS currency that it will not be in India's interest.

 

[jhungary]

Word salad... for your own consumption dude!


that it is!


two way street ... you said it, right?
Eat your gold away! What is money except a medium to transact in... stored value delivered for goods and services. Either You'll have something that I want or a stored value in lieu of...


Packing peanuts!


Bunch of words it is!
Since U.S. didn’t leave gold standard by choice...

Read, Nixon Shock!


Read above... I know the length and breadth of your argument. Here's an idea get some new out of your hiney!


Instead, it was U.S that distorted the market and prices gold amongst other precious metals in an ever inflationary instrument. It is this instrument that thus far has mapped and measured the output of goods and services and therefore controls/manipulates pricing/valuation of markets.



Boohoo, The dingo ate my baby.
j man... deceptive by choice!

A true kamikaze! didn't hit the abort when you should have...

Wow, how can stuff that long does not even have a point like at all, this is like something out of a crazy dude that start drawing under the bridge would say. And you start your last post fallacy and fantasy.

On the other hand, I will leave you just one question.

What is gold standard anyway? Who give gold the value it have today when gold is just one of the element in our periodic table same as silver, aluminium, mercury and every other element?

You dont have to answer that as I don't expect people like you, and especially you to be able to, and I will leave this discussion here.

As I said I have no problem anyone want to go back to gold, just please send me your money before you do. I accept paypal or direct transfer, money cheque is also okay. Thanks

Oh and by the way US Dropped the gold system back in 1932 when FDR refused Central Bank to tell gold to accounts, when they did that you stop being link to gold system because you cannot convert certificate or money back into gold, Nixon just demolished the entire Bretton Wood system.

 

[MeFishToo]

This gold backed currency is a fairytail being recycled by RT once a year. Its just an attempt to disrupt the dominating dollar.

 

[jhungary]

This gold backed currency is a fairytail being recycled by RT once a year. Its just an attempt to disrupt the dominating dollar.

Lol most people don't know this, but gold standard is created by accident by Sir Issac Newton (yes the same guy who gave us gravity) that ended the silver system people had been using in the last 4000 years.

Newton did that by overvalued the value of gold 15 (or 21 times in some publication) times and basically push silver dime into extinction. That's how a 200 years old gold system killed the 4000 years old silver system.

As for why he did that, thats depends on what book you read, it range from new world requirements more silver than gold to minting new gold coin put a lot of mula in Newton's pocket (he got a fee for every coin minted as the director of Royal Mint).

But anyway, had these people say we should revert back to silver system so as to curb inflation and rid the US from dictate monetary policy, that may have some sense, gold standard weren't really that well received from its creation and ran into serious trouble just 200 or so years into it's use is not really a good idea....