BRICS

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jonnyy40
Posts: 5
Joined: Fri Jan 14, 2022 10:32 am
Location: SW England

BRICS

Post by jonnyy40 »

This seems to be setting up as a viable alternative to America and the western countries in its influence.I'll be very interested to know if they propose gold as backing for any trade settlement currency among themselves. The UK money supply,M0 is roughly a £trillion so if gold were to be used to back that its price would be roughly £100k/ounce as we only have 310 tonnes.
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jonnyy40
Posts: 5
Joined: Fri Jan 14, 2022 10:32 am
Location: SW England

Re: BRICS

Post by jonnyy40 »

I didn't know Putin had nayed a trade settlement currency being on the agenda but this is interesting imo
https://www.youtube.com/watch?v=YqmZ4xeDTy4
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