RE: BRICS5 Jul 2024 18:49
BRILLGOLD - I found your words were reminiscent of a song by George Russel; New York, New York a city so nice they had to name it twice. Admittedly, although remembering the lyrics, I couldn't recall the artist. A quick Google helped.
Interesting view you have on the subject of BRICS.
40% gold and the rest in Eastern currency.
The idea that BRICS will be "gold backed" when it comes to trading is, like the George Russel song - reminiscent of our, and others' solid guarantee... goes back a hell of a long time.
There are only a couple of the original BRICS members who hold substantial amounts of physical gold.
There is something like 40 or 50 other countries who have expressed their interest in joining BRICS, yet they have next to nothing when it comes to having ownership of physical gold. Their interest, I think, lies in being able to trade outside of the dollar controlled system? Does BRICS have legs? Depends on what the new "Americans" see as an alternative to gold I suppose... oil, gas, rare earth etc etc. Just my view.