The BRICS nations can still trade with one another, via their own messaging system. Most likely settle in ether Ruble or some other form of currency.
It will be interesting to see Oil denominated in Gold, but the problem is going to be settlement. You can’t just move hundred tones of Gold just like that… it’s a logistical nightmare. So there will always be some form of medium of exchange, hopefully backed by a hard asset.
If it’s Gold, then the key issue will and always will be verification.
I remember it being announced years ago they were trading amongst each other without USD. Found this tidbit now, note the impetus years ago under BO due related to Ukraine and sanctions.
When did Russia begin to abandon the greenback?
The share of trade operations between Russia and China using the U.S. dollar fell to 46 percent in the first quarter of 2020, while holding at 90 only five years ago. The de-dollarization initiative in Russia began in 2014, during sanctions amid a diplomatic breakdown over Crimea.
I thought they setup some sort of gold exchange or a place in China or Singapore where countries could store gold to perform settlements. I remember reading about something like that a few years ago. Kind of like they had in NY before the Khazarians took over and stole all the gold.
The Shanghai Gold Exchange and they settle using Renmibi?
You'll get no argument from me. But if China is going to play gold reserve for international settlement and they try and fraud people it will be war. It already is war...
They wouldn't be dragging Putin out and jabbing a stick up his ass like the did Gaddafi for tryin to make them pay in gold instead of America's worthless currency.
He could cripple the entire planet, pretty much over night if he did it.
That's why they demand that rubles be used to settle payments in their ports now, rubles are on a gold standard, this is great for stackers and federal reserve note dislikers.
That is entirely possible. I wish there was a way to verify such a thing but our gov/media will never allow that info here. Maybe something out of Russia but they are going to cut more and more off until we hear nothing from them.
Where is all of the gold?
"who is accumulating gold reserves" would be a good search
India and Russia were importing huge amounts of gold and silver the last couple of years.
Only taking gold was Saddam's and Kaddafi's mistake. The banks don't like that at all.
So you know it's the right idea.
Saddam and Kaddafi didn't have 7000 nukes.
oh, great thought, I like it
Or maybe crypto. Good front though to fake "taking a stand".
Probably because of the endless coof "printing" deflated the "dollar" - funny money
The BRICS nations can still trade with one another, via their own messaging system. Most likely settle in ether Ruble or some other form of currency.
It will be interesting to see Oil denominated in Gold, but the problem is going to be settlement. You can’t just move hundred tones of Gold just like that… it’s a logistical nightmare. So there will always be some form of medium of exchange, hopefully backed by a hard asset.
If it’s Gold, then the key issue will and always will be verification.
I remember it being announced years ago they were trading amongst each other without USD. Found this tidbit now, note the impetus years ago under BO due related to Ukraine and sanctions.
https://www.rbth.com/business/332673-russia-china-us-dollar-america
Blockchain verified ownership and exchange of gold solves part of the international exchange problem.
I thought they setup some sort of gold exchange or a place in China or Singapore where countries could store gold to perform settlements. I remember reading about something like that a few years ago. Kind of like they had in NY before the Khazarians took over and stole all the gold.
The Shanghai Gold Exchange and they settle using Renmibi?
Don’t trust China...China is asshoe! https://m.economictimes.com/news/international/world-news/chinas-biggest-gold-fraud-4-of-its-reserves-may-be-fake-report/articleshow/76707339.cms
Wuhan-Home of virology research, bat soup, alchemy...
You'll get no argument from me. But if China is going to play gold reserve for international settlement and they try and fraud people it will be war. It already is war...
Megawatts for one.
They wouldn't be dragging Putin out and jabbing a stick up his ass like the did Gaddafi for tryin to make them pay in gold instead of America's worthless currency.
He could cripple the entire planet, pretty much over night if he did it.
Yes the BRICS countries are going to trade oil/natural gas in gold and destroy the fed.
That's why they demand that rubles be used to settle payments in their ports now, rubles are on a gold standard, this is great for stackers and federal reserve note dislikers.
Gold for black gold sounds fair
Ooh. Fascinating theory. Makes sense.
That is entirely possible. I wish there was a way to verify such a thing but our gov/media will never allow that info here. Maybe something out of Russia but they are going to cut more and more off until we hear nothing from them.
Whatever happened to all the Vatican gold?
Yep.
Didnt we just give them $18 billion in sdr?