BRICS 2023 Summit: Gold-Backed Currency Confirmed, Doubts Over Putin’s Attendance
As the world evolves, so does the global balance of power. The increasing number of nations seeking to join BRICS, (Brazil, Russia, India, China, and South Africa).
At this time, existing members, those who have applied to join, and those expressing an interest total 41 nations. That’s over 60% of the world’s population and one-third of global GDP.
What’s on the horizon for this powerful alliance?
Plans for a new trade currency backed by gold have caught the attention of experts and analysts upcoming BRICS meeting in Johannesburg, scheduled for August, is expected to discuss this ambitious project. The introduction of a gold-backed trade currency holds profound geopolitical implications.
Gold has always been a symbol of stability and trust. Thus, including it in a new trade currency would bolster confidence and mitigate the risks associated with volatile global currencies.
So, how would this work?
The introduction of a gold-backed trade currency would require a reserve system where participating nations contribute a certain percentage of their gold reserves. This would ensure stability and guarantee the value of the currency.
By introducing a new trade currency backed by gold, BRICS asserts itself as a global player, reshaping the economic and geopolitical landscape.
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About David:
Dr. Oualaalou served a fifteen-year career in the United States Armed Forces in support of the US government’s security agencies in Washington DC and around the world. His primary roles include security policy, intelligence analysis, security operations advice including leadership and managerial operations. He advised high-profile U.S. military and civilian officials on security issues, economic trends, and foreign military threat information. He has written many articles and books including his latest, The Dynamics of Russia’s Geopolitics: Remaking the Global Order.
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