Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Global South: Gold-backed currencies to replace the US dollar (new term: R5+)
The Cradle ^ | January 19 2023 | Pepe Escobar

Posted on 01/22/2023 12:40:48 PM PST by C210N

Let’s start with three interconnected multipolar-driven facts.

First: One of the key take aways from the World Economic Forum annual shindig in Davos, Switzerland is when Saudi Finance Minister Mohammed al-Jadaan, on a panel on “Saudi Arabia’s Transformation,” made it clear that Riyadh “will consider trading in currencies other than the US dollar.”

So is the petroyuan finally at hand? Possibly, but Al-Jadaan wisely opted for careful hedging: “We enjoy a very strategic relationship with China and we enjoy that same strategic relationship with other nations including the US and we want to develop that with Europe and other countries.”

Second: The Central Banks of Iran and Russia are studying the adoption of a “stable coin” for foreign trade settlements, replacing the US dollar, the ruble and the rial. The crypto crowd is already up in arms, mulling the pros and cons of a gold-backed central bank digital currency (CBDC) for trade that will be in fact impervious to the weaponized US dollar.

...

The race to replace the dollar

One key takeaway is that energy-intensive major industries are going to be moving to China. Beijing has become a big exporter of Russian liquified natural gas (LNG) to Europe, while India has become a big exporter of Russian oil and refined products such as diesel – also to Europe. Both China and India – BRICS members – buy below market price from fellow BRICS member Russia and resell to Europe with a hefty profit. Sanctions? What sanctions?

...

Economic dominance of BRICS+ may be no more than 7 years away – whatever toxicities may be concocted by that large, dysfunctional nuclear rogue state on the other side of the Atlantic. But first, let’s get that new currency going.

(Excerpt) Read more at thecradle.co ...


TOPICS: Business/Economy; Foreign Affairs
KEYWORDS: dollar; gold; petrodollar; r5; reservecurrency
Navigation: use the links below to view more comments.
first 1-2021-27 next last
Looking for BRICS+ expansion, gold-backed CBDC's and the demise of Central Bankster FED/IRS fiat currency.

$31Trillions in debt? Have not, and not going to pay a single plug nickle in principle.

1 posted on 01/22/2023 12:40:48 PM PST by C210N
[ Post Reply | Private Reply | View Replies]

To: C210N

“Global South: Gold-backed currencies to replace the US dollar (new term: R5+)”

And the thing that put this into Hyperdrive was the BRILLIANT Neocon move of kicking Russia out of US-controlled SWIFT...since obviously other countries now know they could be next.

...and just to really STICK IT IN OUR FACE - Russia’s doing just fine without SWIFT.

Bottom line: Elections have consequences, including stolen elections.


2 posted on 01/22/2023 12:43:32 PM PST by BobL
[ Post Reply | Private Reply | To 1 | View Replies]

To: C210N

gold eagles are in my immediate future


3 posted on 01/22/2023 12:43:41 PM PST by JonPreston
[ Post Reply | Private Reply | To 1 | View Replies]

To: C210N

The end of the Petrodollar is the end of the American welfare state.


4 posted on 01/22/2023 12:46:08 PM PST by Rurudyne (Standup Philosopher)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rurudyne

The Cabal fooled the world.


5 posted on 01/22/2023 12:50:52 PM PST by wac3rd (Somewhere in Hell, Ted Kennedy snickers....l)
[ Post Reply | Private Reply | To 4 | View Replies]

To: C210N

Warning: The only way these currencies will be gold backed, will be partially gold backed. There is not enough gold in the world to back these BRICster scamster currencies at a non-insane gold price.


6 posted on 01/22/2023 12:53:51 PM PST by dennisw ("You don't have to like it. You just have to do it")
[ Post Reply | Private Reply | To 1 | View Replies]

To: JonPreston

Gold eagles, IMHO, are overvalued. As well as silver eagles. The US Mint is very limited in their metal sources, unlike other minters.

A Troy ounce is just that - a troy ounce.

It is said: Gold will kill the FED; Silver will bury it.


7 posted on 01/22/2023 12:59:26 PM PST by C210N (Everything will be okay in the end. If it’s not okay, it’s not the end.)
[ Post Reply | Private Reply | To 3 | View Replies]

To: C210N

Besides the value of the gold itself, they are also assayed which ensures purity. Anyone can make and sell a silver piece.


8 posted on 01/22/2023 1:04:05 PM PST by Mean Daddy (Every time Hillary lies, a demon gets its wings. - Windflier)
[ Post Reply | Private Reply | To 7 | View Replies]

To: C210N

Rollover 212112 -— Latin American style...

if you’ve never seen it, it’s worth a look

Arabs dumping the dollar for a gold backed currency

https://www.youtube.com/watch?v=q9d30RBJkf0


9 posted on 01/22/2023 1:12:49 PM PST by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Rurudyne

The end of the Petrodollar is the end of the dollar.


10 posted on 01/22/2023 1:14:36 PM PST by Disambiguator
[ Post Reply | Private Reply | To 4 | View Replies]

To: dennisw

That’s what I was wondering.


11 posted on 01/22/2023 1:19:02 PM PST by Vermont Lt
[ Post Reply | Private Reply | To 6 | View Replies]

To: Mean Daddy

If I got to a coin shop, they will recognize a Silver or Gold Eagle. The BS you have to go through with “tests” is minimized.

Although, I did have one guy start going through these machinations when I was trying to sell some gold eagles. He told me there were often counterfeited. I suggested that he call the Secret Service if he was concerned about that.


12 posted on 01/22/2023 1:22:15 PM PST by Vermont Lt
[ Post Reply | Private Reply | To 8 | View Replies]

To: dennisw

There is plenty of gold, it would just require a complete replacement of currency and correction of prices/wages.

I got piles of quarters stamped 0.25 USD that are worth more than face value and stacks of 1 & 5 USD silver backed greenbacks “worth” the equivalent I get from a gas station when breaking a 50.


13 posted on 01/22/2023 1:32:34 PM PST by It Aint Easy
[ Post Reply | Private Reply | To 6 | View Replies]

To: C210N

Gold eagles, IMHO, are overvalued. As well as silver eagles. The US Mint is very limited in their metal sources, unlike other minters.

A Troy ounce is just that - a troy ounce.

It is said: Gold will kill the FED; Silver will bury it.

^^^^^^^^^^^^

type II american silver eagle trading at a 69% premium to spot today.

what’s up with this?


14 posted on 01/22/2023 1:52:48 PM PST by thinden (buckle up ....)
[ Post Reply | Private Reply | To 7 | View Replies]

To: C210N

bkmk


15 posted on 01/22/2023 1:53:55 PM PST by sauropod (“If they don’t believe our lies, well, that’s just conspiracy theorist stuff, there.”)
[ Post Reply | Private Reply | To 1 | View Replies]

To: C210N
Looking for BRICS+ expansion, gold-backed CBDC's and the demise of Central Bankster FED/IRS fiat currency

of course you are, you one of those who hate America and are cheering for its downfall

sorry to disappoint you, though ... the dollar is here to stay, cuz people just don't trust the BRICS dictatorships (for many valid reasons), and there's nothing you can do about it


16 posted on 01/22/2023 3:10:41 PM PST by canuck_conservative
[ Post Reply | Private Reply | To 1 | View Replies]

To: thinden

The premiums over spot gold is crazy right now and from what is said, it’s because nation states, the Fed, and others are hoarding gold. One analyst recently stated that all the major mining companies are not finding any more gold, implying there is little left to be had.


17 posted on 01/22/2023 4:39:28 PM PST by Obadiah (The business of America is no longer business, it is war and arms sales.)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Obadiah

The premiums over spot gold is crazy right now and from what is said, it’s because nation states, the Fed, and others are hoarding gold. One analyst recently stated that all the major mining companies are not finding any more gold, implying there is little left to be had.

xxxxx xxxxxxxxxx

Implying there is little left to be had……. At today’s market prices.

2700 on gold & 40 dollar silver will pop out grampa’s gold fillings & gramma’s silver service


18 posted on 01/22/2023 5:19:33 PM PST by thinden (buckle up ....)
[ Post Reply | Private Reply | To 17 | View Replies]

To: C210N

The Suicide Sanctions put in place by warmongering globalists are accelerating the ascension of BRICS.


19 posted on 01/22/2023 6:20:56 PM PST by Arcadian Empire (The Baric-Daszak-Fauci spike protein, by itself, is deadly.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Obadiah

That analyst is full of CRAP; even though Crapifornia made it illegal for me to put my dredge in the water, I still find plenty of gold with just my hand tools and a pan!


20 posted on 01/22/2023 7:25:09 PM PST by 5th MEB
[ Post Reply | Private Reply | To 17 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-27 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson