Breaking News Jul 11, 2023
Lynette Zang looks into the trending subject of the BRICS countries and their declared strategy to back their currency with gold. In this video, she discovers the concealed information behind the headings and offers important insight. Enjoy now and get a much deeper understanding of the intricacies surrounding currency support, financial obligation removal, and the real nature of gold as a safe-haven possession.
CHAPTERS:
0:00 Trading Currency
1:41 Gold-Backed BRICS Currency
6:19 BRICS Bank’s Vice President
SLIDES FROM VIDEO:
RECORDS FROM VIDEO:
I’m Lynette Zang, Chief Market Expert here at ITM Trading. And there have actually been a great deal of discuss the BRICS countries and they have actually got a, they have actually got a seminar showing up and they’re gon na back the currency with gold. And I have actually yapped about this since this is definitely not the very first time that this concern has actually shown up. However let me reveal you what’s truly occurring under here since there is no other way that any currency can back their currency with gold till they eliminate all the financial obligation. So let me reveal you what’s been occurring. So top, this entire brand-new concern showed up once again since of a tweet from a state owned from a Russian state owned media outlet. BRICS is set to present a brand-new currency backed by gold in contrast to the credit backed United States dollar, with the choice coming a month ahead of the block top in Johannesburg with a growing effort. A growing number of nations are lining up to sign up with the group. However it’s going to be a trading currency, which in fact I believed was, was quite intriguing. So on the surface area, now everyone’s speaking about this since that conference is following month and wow, they can simply do this.
Well, let’s take a look at this a bit much deeper cause you understand my label is Data Gal and I resemble a little ferret and I dig and dig and dig. So here we go. I’m gon na take you through here since it’s in fact a BRICS bank authorities, right? That goes over the typical currency as reports of the gold-backed BRICS currency gains attention. So this is the heading, I’m gon na return to it in a 2nd since they’re speaking about presenting a trading currency or a minimum of that’s what we were informed by RT. Nevertheless, the BRICS nations, this is where it began with. This is a tweet from the Russian Embassy in Kenya. The BRICS nations are preparing to present a brand-new trading currency, which will be backed by gold. A growing number of nations just recently revealed the desire to sign up with and what they did was they put this post in here from foreignpolicy.com. So that is not any sort of federal government company, however to support this claim. That’s what they put in there. They did that on July second. Nevertheless, what this post states, it’s a BRICS currency might shake the dollar’s. Supremacy de-dollarization’s minute may lastly be here. So that’s where they understood that they’re going to reveal it next month. However when you enter, and by the method, remember you got all these links, however when you enter to that post, so the Russian Embassy and they’re going to shake the dollar supremacy when you enter into that post, this post is dated April 24th, 2023. So this is not a brand-new thing. What did they state because post? Well, I pulled it up and once again, this is a newspaper article. This is not originating from any main company at all. And I simply put control+ f because post to see where they were speaking about gold. You got the link, you can check out, you can check out the entire post on your own. And what it states is, however possessions, so this is an idea of this post. Possessions denominated in the BRIC, the brand-new currency, would in fact have attributes most likely to make them abnormally appealing to foreign financiers. Amongst the significant downsides of gold as a property class for international financiers is that in spite of its threat, minimizing worth as a diversifier, it does not pay interest. It does not need to pay interest trigger it’s the most safe thing that you can do. That’s why all the international reserve banks are purchasing it. So considering that the BRICS apparently prepare to back their brand-new currency with gold and other metals with intrinsic worth like uncommon earth and China definitely controls because. And Russia, by the method, has a great deal of rare-earth elements, interest paying possessions denominated in the BRIC would look like interest paying gold. Isn’t that intriguing? Interest paying gold, that’s an uncommon quality. How can they do that? It is one that can make the possessions denominated in the BRIC appealing to financiers who desire both the interest bearing home of bonds and the diversifying home of gold. So what they may do, and this is simply an idea from a post, is have a mix of financial obligation and gold. However unless you can transform, and I desire you to hear me so plainly on this, whether you’re hearing it today or you’re remembering it tomorrow, unless you can transform any currency or any instrument into the physical metal, then how do you understand that it exists and how do you understand that it’s at the level that they’re stating? You do not. So they will attempt and do this to get you to purchase into their, the system. And I’m not speaking about the BRICS always today, I’m speaking about all nations. Zimbabwe depends on a level where they are checking the marketplace for their gold backed digital currency. However once again, it’s not convertible. So till it’s convertible, it ain’t done, it’s simply released to sucker you in.
So let’s see what the, what the authorities at the BRICS bank are in fact stating. Okay? What they are stating is so this is a BRICS Bank vice president. It’s going to take a long time for currency motions to take shape. So any conversation of alternative currencies is certainly a far more medium and longer term goal. So I, we’ll see, I put it in my calendar and we’ll see what takes place next month because once again, that’s not something that I can manage. However nobody is recommending today that BRICS will form an alternative currency highlighting all we are recommending is that we require to deepen using regional currencies of our member nations. And gradually that is going to enhance our capability to vaccinate or insulate our economies from the decline of our currencies. If we obtain in dollars, which is a big international, another big international financial obligation concern that we have actually been speaking about, that is looming, for instance. However there is no idea today to produce a BRICS currency because sense. The remarks made by the BRICS bank chief monetary officer lined up with the declarations made by India’s external affairs minister, who apparently stated previously today that there are no prepare for a brand-new BRICS currency. Rather, the focus stays on boosting the regard of nationwide currency within the BRICS structure. And by the method, I have actually revealed you this gradually, that that’s what they have actually been doing to bypass the dollar. Since as the world reserve currency, that suggests that if you are going beyond your borders to purchase anything, medication, lumber, oil, whatever it is, you have no option however to utilize dollars.
Well, that’s been moving truly considering that completion of 2002. And there have actually been a great deal of bilateral trade contracts that have actually made, well, we’ll accept your dollars or your currency for trade if you accept our currency for trade, bypassing the dollar. That’s still what they’re speaking about. Now, possibly there’s something else that I’m not seeing that’s definitely a possibility. I’m simply a person. However I believe that this was a story that simply sort of left since in order to do even what they discussed because post, which is having an instrument that has, that has some gold part therein, however is still mostly a financial obligation instrument. So it pays interest. You understand, they’re gon na need to eliminate that financial obligation initially. They’re simply gon na, so that’s it. I wished to upgrade you rapidly and you understand, do not forget your monetary guards are made from physical, gold and silver. Get that in location. That’s what’s gon na conserve you no matter what the BRICS or the United States or the Federal Reserve, no matter what anything does. And till next we fulfill. Please be safe out there. Bye-Bye.
SOURCES:
https://twitter.com/RT_com/status/1676720110353137664
https://twitter.com/russembkenya?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
https://foreignpolicy.com/2023/04/24/brics-currency-end-dollar-dominance-united-states-russia-china/