Posted on 07/08/2023 2:17:54 PM PDT by delta7
Do realize Chines nationals can buy physical gold at local banks and have been encouraged to do so by their government.
Stay tuned.
And the US still gives these countries foreign aid and allows their less skilled workers to come here and take jobs from Americans
Purchased but are they in possession of the gold ? Who knows …..
imho AI is far far more important that global gold backed currency. And since the home of AI is right now the USA—the dollar benefits. US manufacturing is going to go through an astounding revolution in the next couple years as AI gets orders of magnitude more powerful.
I used to think that gold backed brics—or some such— would undercut the dollar with disasterous consequences. Now not at all
‘
Now I’m just hoping the dollar will go down in value to make the US manufacturing revolution that much more powerful as an export boom.
Bkmk
BRICS currency?
LOL!
What moron would voluntarily trust his money with two Marxist countries - China and South Africa - and three Socialist economies - Russia, India, and Brazil?
Russia - before the Ukraine War, and in spite of huge natural resource wealth - had a GDP that was LESS than the state of Texas!
Until China steals corporate IP. Which is, let’s face it, how they’ve advanced as far as they have. Theft.
How does AI help manufacturing ?
Manufacturing is about creating real world physical products.
AI is about creating digital fake crap.
Purchased but are they in possession of the gold ? Who knows …..
——
I know, they can walk in with Yuan, walk out with some beautiful sovereign gold coins in their possession (and other non sovereign designs). Much written about China’s free gold exchange on the web. You should pull up some information about that.
Best part- they can walk in, take their gold and exchange it for Yuan….the absolute best part is the Chinese government encourages it!
That said, try walking into a U.S. bank and buy a U.S. Gold Eagle, ha! , or exchange your US Eagle for USD….not happening….a huge Harbinger developing…..stay tuned as the US loses its hegemony.
“It’s Official: A Gold-Backed BRICS Currency Is On The Way”
Who cares if our currency will soon become worthless due to our debt, all that matters is UKRAINE!!!, UKRAINE!!!, UKRAINE!!!. We need to DESTROY RUSSIA, RUSSIA, RUSSIA!!!.
(at least to the Neocons)
South African
That’s a nation on the isle, I tell ya.
Money needs to be based on the energy unit the BTU. Nearly everything can be converted into the BTU or can reflect value or work as BTUs. Regardless of the source.
"It’s Official: A Gold-Backed BRICS Currency Is On The Way"
Patriots are reminded that the states constitutionally limited themselves to using gold and silver coin for legal tender.
"Article I, Section 10, Clause 1: No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts [emphases added]; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
two Marxist countries - China and South Africa - and three Socialist economies - Russia, India, and Brazil?
If Russia is “socialist”, what does that make America ?
The UK was the reserve currency and the international trade currency until WW1.
People lost faith in the pound, and it switched to the dollar.
The USA shows more decay and imperial over-reach than the UK ever did.
Also, the USA continually threatened everyone with sanctions, which is another incentive to stop using dollars.
If the US dollar ever falls from reserve status, you have a country with gigantic internal divisions, gigantic trade and budget deficits - Zimbabwe with nukes
Same as the Democrats
Yeah, and after they suck in trillions of actual dollars, they’ll suddenly declare that the “BRICS Currency” is liberated from gold i.e. floating.
AI is a danger to all humanity!
You are insane to support such an evil invention.
If AI gains control of networks, conected to any manufactoring, millitary assets, energy production/distribution ... it will be “game over man”!!!
BRIC does have some economic clout — but the S doesn’t add anything of value. South Africa is collapsing and can’t even provide electricity for its own country.
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