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In today's live we are going over the BRICS and what it really means to have a "GOLD BACKED" not "GOLD PEGGED" currency!

Over the past century, monetary systems change about every 30–40 years on average. Before 1914, the global monetary system was based on the classical gold standard. Then in 1944, a new monetary system emerged at Bretton Woods. Under that system, the dollar became the global reserve currency, linked to gold at $35 per ounce. In 1971 Nixon ended the direct convertibility of the dollar to gold. For the first time, the monetary system had no gold backing. Today, the existing monetary system is over 50 years old, so the world is long overdue for a change. I’ve written for years...

Most finance ministers and central bank chiefs from the BRICS group of countries did not attend a high-level meeting in Moscow on Friday ahead of a BRICS summit later this month, sending more junior officials instead, official documents showed. Finance ministers from Egypt and the United Arab Emirates and the head of Iran's central bank were present as Russian Finance Minister Anton Siluanov called for the creation of an alternative to the Western-dominated global financial system. But finance ministers and bank chiefs from China, India and South Africa stayed away, sending deputies or more junior officials instead, a day after...

It’s been obvious for years that China has a Potemkin economy, kept alive by slave labor, market bubbles, and government underwriting. it can’t last forever. The latest grim forecast about the economy comes from Peter St Onge, an economist with a much deeper fund of knowledge about and understanding of the Chinese economy than I could have in a thousand lifetimes.The biggest hint that the Chinese economy was in trouble was the demise of Evergrande, a massive property developer in China. The bankruptcy was huge, with the company’s assets valued at a probably inflated $245 billion and debts of $300...

The BRICS alliance is reportedly considering a new “petroyuan” in its latest move to compete with the world dollar hegemony. BRICS, which was originally launched as a coalition of Brazil, Russia, India, China and South Africa, has since welcomed several other countries into its union and is looking at taking its next steps at a summit in Kazan, Russia, next month.

Money does not grow on trees” is an old expression of wisdom that seems to have been disregarded by 21st century American policymakers. People all over the world and throughout time base their decisions primarily through lived experience. The US dollar became the world’s reserve currency in the aftermath of World War II, which is now almost eighty years ago. There is virtually no one in power at the American government or in leading institutions who has a living memory from before that period. In fact, the elite status of US currency has been taken for granted and is being...

HAVANA, October 8. /TASS/. Cuba has submitted an official request to be included in BRICS as a partner country in a message to Russian President Vladimir Putin, the director general of the Cuban Foreign Ministry’s General Division of Bilateral Affair, Carlos Pereira, said. "Cuba has submitted an official request to join BRICS as a partner country in a letter to Russian President Vladimir Putin who is the chairman of the grouping which is consolidating global politics and the hope of the Global South as a key player," the senior Cuban diplomat said in a statement on his page on X.

Dear Friend of GATA and Gold: In this week's edition of Kinesis Money's "Live from the Vault" program, London metals trader Andrew Maguire outlines what he says are the many bullish drivers of the gold price. He says Chinese central bank buying remained strong this week though retail buying was absent because of the "Golden Week" holidays. Indian central bank buying remained strong as well, Maguire says. Using price charts, Maguire says central bank buying is steadily driving up the gold price in calculated stair steps that prevent the physical market from becoming too disorderly. Now that the BRICs nations...

With less than a month before the crucial BRICS annual summit in Kazan under the Russian presidency, serious informed discussions are raging in Moscow and other Eurasian capitals on what should be at the table in the de-dollarization and alternative payment system front. Earlier this month Andrey Mikhailishin, head of the task force on financial services of the BRICS Business Council, detailed the list of top projects under consideration. They include: A common unit of account - as in The Unit, whose contours were first revealed exclusively by Sputnik. A platform for multilateral settlements and payments in BRICS digital currencies,...

The New York Times reported Thursday that the Biden administration is considering allowing Ukraine to use NATO-provided long-range precision weapons against targets deep inside Russia. Such a decision would put the world at greater risk of nuclear conflagration than at any time since the Cuban missile crisis. At a time when American leaders should be focused on finding a diplomatic off-ramp to a war that should never have been allowed to take place, the Biden-Harris administration is instead pursuing a policy that Russia says it will interpret as an act of war. In the words of Vladimir Putin, long-range strikes...

U.S. Secretary of State Antony Blinken probably discussed China's involvement in the de-dollarization movement during his recent visit to that country, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program. China, Maguire says, may have as much as 40,000 tonnes of gold is its "shadow" banking system, ready for use in the gold-linked international trade currency being prepared by the BRICS nations and Russia. Mainstream financial news organizations, Maguire says, still don't understand that the classification of gold as a "Tier 1" asset by the Bank for International Settlements has triggered the...

https://www.youtube.com/live/qQo4CxbE5mg?si=ROEVgyyAuwrS4kzC Is America Heading for a National Reckoning?

Turkey has formally requested to join the BRICS group of emerging economies, Bloomberg cited informed sources as saying on Monday. Ankara "seeks to bolster its global influence and forge new ties beyond its traditional Western allies," the sources said. President Recep Tayyip Erdogan believes “that the geopolitical center of gravity is shifting away from developed economies" and that the push to join BRICS "reflects its aspirations to cultivate ties with all sides in a multipolar world, while still fulfilling its obligations as a key member of NATO."Image source: XTurkish Foreign Minister Hakan Fidan said in early June that BRICS serves...

Following its stress test earlier this year, the Federal Reserve Board on Wednesday announced final individual capital requirements for all large banks, effective on October 1. Large bank capital requirements are informed by the Board's stress test results, which provide a risk-sensitive and forward-looking assessment of capital needs. The table shows each bank's common equity tier 1 capital requirement, which is made up of several components, including: The minimum capital requirement, which is the same for each bank and is 4.5 percent; The stress capital buffer requirement, which is based in part on the stress test results and is at...

Palestine officially announces it will apply to join BRICS.

After not adding any new members for 13 years, the non-Western international group welcomed Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates last August. The floodgates have since been opened: In February, South African Foreign Minister Naledi Pandor claimed that over 30 nations now want to join the international group. Malaysian Prime Minister Anwar Ibrahim has been vocal about wanting to join the bloc, lobbying Russian, Chinese, and just this week, Indian officials about Malaysia’s application. Thailand also submitted a formal application to join the bloc last June, and officials hope that the Southeast Asian country will be...

Central banks and finance ministries of all BRICS nations are discussing the launch of a new payments platform that would circumvent the US dollar, according to a new report. According to Russian government-backed media publication Tass, Russia’s Federation Council Speaker Valentina Matviyenko told a press conference that a standalone payment system dubbed the “BRICS Bridge” is gaining support.

When German-born Kim Dotcom talks about "the US", he sounds like me talking about "the Globalists". Speaking on the The Alex Jones Show, Kim says that the US is leading the world into a nuclear war, to avoid facing up to its crimes. He says the an asset-based BRICS currency would be preferred for trade by virtually every country over the US dollar, where you risk being impetuously sanctioned over some BS that isn't even true. Kim says, "My big worry is that, you know, once the realization sinks in that this is not reversible, that Russia and China are...

The BRICS alliance kick-started the de-dollarization agenda to bring the US dollar down from the world’s reserve currency status. The bloc initiated multiple policies to hamper the USD’s growth and make local currencies the center of all transactions. The de-dollarization program was started in 2022 after the US placed sanctions on Russia for invading Ukraine. The US dollar remains the world’s de facto currency for trade despite BRICS indulging in de-dollarization practices. Their policies did little to nothing to bring the US dollar down and the USD currency maintains its worldwide supremacy. A new study from the Atlantic Council’s GeoEconomics...

This month, rumors about the petrodollar have spread like wildfire all over the Internet. Some of what is being said is true, and some of what is being said is false. When other sources were reporting on “the death of the petrodollar”, I was asked why I was not writing about it. Well, the truth is that I was not writing about it because the petrodollar is not dead. It is certainly in trouble, but it is not dead. Today, most oil continues to be sold in U.S. dollars, and most global trade continues to be conducted in U.S. dollars....