RE: The Problem With Endlessly Thinking Gold Will11 Jul 2023 10:56
More on the gold backed currency news -
"De-Dollarization Just Got Real, Part 2: BRICS To Introduce Gold-Backed Currency In August
There’s an old saying about predictions: It’s okay to forecast an event or a date, but not both. But lately, Jim Rickards has been predicting both the introduction by the BRICS coalition of gold-backed currency and the date, August 22. Here’s a short video where he lays it out.
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Rubino goes on to give some good points to consider, one being "We’ll have to see what exactly “gold-backed” means. Will the currency be convertible into gold at government offices or via bank accounts? Will participants settle trade imbalances by shipping physical gold from vault to vault?"
He ends "To sum up, many things have to go right for the BRICS currency to launch successfully and gain traction, and a smooth introduction is probably the least likely scenario. But there’s a decent chance that it’s good for gold. In any event, it’s nice to have both an event and a date to look forward to."
https://rubino.substack.com/p/de-dollarization-just-got-real-part