In an unprecedented move that threatens to redefine the dynamics of international trade and economic stability, the BRICS nations reportedly plan to launch a new trading currency, backed by gold, at their upcoming summit in August in Johannesburg, South Africa, according to Russia’s Foreign Ministry.
The decision, reported by RT News, marks a bold move away from the US dollar, the world’s current global reserve currency.
According to RT, the Russian Government HAS CONFIRMED Brazil, Russia, India, China and South Africa, known as the “BRICS” nations, will introduce a new trading currency backed by Gold.
The official announcement is expected during the upcoming BRICS Summit in South Africa, this August.
If this takes place, it will likely mark the end of “fiat” currencies like the US Dollar, which is backed by nothing.
How fast nations around the world switch to using this new gold-backed currency for their foreign trade, is anyone’s guess.
The more countries that choose to use this new currency, the more foreign-held US Dollars will come rushing back to the USA from those countries, which no longer need to hold US Dollars for their foreign trade. As those Dollars come back to the USA, it will cause inflation to spike in ways never-before seen here in America.
The US manufactures almost nothing here anymore. Almost everything we buy and sell in the USA is made overseas. As US dollars come flooding back from overseas, the value of the US dollar will plummet versus other currencies, which means it will take many more US Dollars to buy goods from foreign countries.
Hence, sudden and dramatic inflation here at home.
It is worth pointing out that the US has, on more than one occasion, gone to actual WAR to stop this exact thing from taking place in the past. Two recent examples would be Libya and Iraq.
In Libya, Mohamar Qadaffi wanted to create a gold-back Pan-African currency. Within a month of his announcement, there were riots and uprisings in Libya that ultimately resulted in Qadaffi being mobbed and brutally killed in the streets.
Iraq made a similar effort under Saddam Hussein. He announced that Iraq would begin selling oil in currencies OTHER THAN the US Dollar, which sent the US to Iraq War 2, toppling Hussein from power. Ultimately, Hussein was found hiding in a hole in the ground, was arrested, tried, and HUNG BY HIS NECK until dead.
The US takes it ___ V E R Y ____ serious when anyone around the world tries to do anything that would unseat the US dollar as the world’s defacto Reserve Currency.
The US is already itching to go to war with Russia over the Ukraine conflict. With today’s announcement about a Gold-Backed BRICS trading currency, it seems logical that the US “gloves” will come off.
If Russia and the BRICS Nations do what they have announced, it would mean the total collapse of US world dominance. There are many people inside the US Government that would rather burn the entire world to the ground, rather than lose control of it. Put simply, they will stop at NOTHING to maintain their financial control power; and will actively, viciously, brutally, destroy anyone and anything threatening their power.
The BRICS group, an association of five major emerging national economies comprising Brazil, Russia, India, China, and South Africa, has captured the world’s attention with this plan. Over forty-one countries have expressed interest in joining the BRICS initiative and adopting the new currency, highlighting the growing discontent with the US dollar’s global dominance, thanks to Joe Biden.
According to Russia’s Foreign Ministry, if African nations also show enthusiasm for this gold-backed currency, BRICS membership expansion could be a key discussion point at the upcoming Russia-Africa summit this year.
Russia’s embassy in Kenya posted the following statement on Twitter:
“The BRICS countries are planning to introduce a new trading currency, which will be backed by gold. More and more counties recently express desire to join BRICS,” the embassy wrote.
The BRICS countries are planning to introduce a new trading currency, which will be backed by gold.
More and more counties recently express desire to join BRICS.
The BRICS countries are planning to introduce a new trading currency, which will be backed by gold.
— Russian Embassy in Kenya/Посольство России в Кении (@russembkenya) July 3, 2023
More and more counties recently express desire to join BRICS.https://t.co/lMKTd4FlnT
This move towards de-dollarization symbolizes a potential end to the US dollar’s reign as the global reserve currency. The impacts of this shift will undoubtedly unfold in the coming months, hinting at the end of an era of US dominance and the beginning of a new era of economic stability and prosperity for BRICS nations.
Russia confirms that they are launching a BRICS currency backed by #gold.
It will be on the agenda at the BRICS South Africa meeting in August. Many other countries have applied to join BRICS.
De-dollarization is accelerating.
Russia confirms that they are launching a BRICS currency backed by #gold.
— Wall Street Silver (@WallStreetSilv) July 8, 2023
It will be on the agenda at the BRICS South Africa meeting in August. Many other countries have applied to join BRICS.
De-dollarization is accelerating.
🔊 pic.twitter.com/TM8A9d5Wie