I don’t know. Stay tuned. It was only a 2.5 minute part of a speech. The BRIC+ countries are developing a similar concept to tie currency to a basket of goods to try and end the petro dollar. They aren’t far off in the opinion of many.
There is an election coming up soon in Brazil and your basic communist could win.
If you combined the economies of Brazil, Russia, India, China and Saudi Arabia together this a huge number if they started to only accept payments in some new currency based on the value of commodities, then it would be a game changer and not good at all for the USA>