Michael makes a good point, BRICS are not ready to replace the Dollar for trade and issue it's own new super currency for really good reasons.
The issue is the USA and Europe are huge consumers and use debt to buy. That fuels the world economy about 77% where the Yuan makes up less than 3% of all global payments in trade, because We buy BRICS exports. BRICS are very low domestic consumers and high savers. BRICS are going to have to transition from export dependent economies to internal consumer demand economies to replace the Dollar USA/EU consumption. That will take time a long time and be very painful for China running more deficits and encourage local consumption and debt something they (china exporters don't want to do. So do get off the dollar will be long and hard. China would have to print (debt) huge amount of Yuans for trade, they can't do that now thus encouraging using local currencies for trade not dollars. But the big consumers are the west and we will want dollars and euroes those local currencies will devalue quickly thus it won't last long.
China has yet to announce their new gold backed currency where the IMF has (Unicoin) backed by almost 300,000 metric tones of Gold. They are ready for the great reset and default on all the dollars and bonds. The timing is key and will be done on purpose and that will be to kill the BRICS system.
When the rest happens USA/EU consumption will drop and since the BRICS need that consumption to survive that system will collapse. Out of it the west arise as the #1 consumers again but this time have a massive new gold backed system the BRICS are not even close to introducing.
Yes the dollar will die but the plan for it's replacement is much further along than the BRICS they are just waiting for the right event to blame the reset on (the BRICS) Plus we are negotiating with India to leave the BRICS for the reasons stated and if India leaves that alone will kill the BRICS system.
Thus Xi an Putin's only result to stop the west is war
Saudi Arabia only has a GDP that is 1.4% globally but oil is a key now but the new global 4th industrial revolution that is coming will use super technology to run things not fossil fuels so Saudi Arabia days are numbered. They know that and that's why they are investing now in other money makers than oil.
I saw a interview with Lynette Zang on stansberry research in which she said the IMF has their SDR basket currencies ready to replace the US dollar. She said it won't be the brics as like you pointed out Daniel they don't have enough representation of total dollar usage. I agree with you Daniel everything is in place & all it comes down to is when they chose to collapse the whole house of cards. And bring in their beast system.
And this what makes this such a desperate situation for Russia and China. We suckered Putin into attacking Kiev believing it would take 3 days, it's now been over a year and untold 100,000 of dead Russians. This has to give China cause to pause. Yes this economic situation is rapidly spiraling out of control. No matter what happens or how this plays out this will not end well soon.
I think that the writing is on the wall. Why would anyone want a worthless fiat dollar that can be printed in perpetuity, when they could exchange it for a gold backed currency? The US should never have stopped backing its dollars with precious metals. Add to that, we've been duped into putting our life savings into the stock market, where it could be wiped out at any moment.
For those of you who think that the US is too big to fail, I guess only time will tell.
A gold backed currency at this time would be hard to administer. People would quickly turn in their currency for gold and there would be no gold left; a.k.a., 1971. I really don't think there will be a gold backed currency for decades. What will happen once the dollar becomes worthless, in a worldwide currency collapse, due to a lack of global confidence in currency, is that no currency will be the reserve currency of the world for 40 to 60 years. The world will go into a dark age with very little international trade. The whole world will be third world. Only slowly will a gold standard return to this world. The population of the planet will be gun-shy about paper currency for a long time to come.
Both the BRICS and the IMF SDR systems will be backed by Gold at a set price but you won't be able to redeem your digital currency in actual gold. Remember you will only be able to buy and sell in digital dollars. That system to replace the dollar is in place now. I know this because I have a contact in B of A Sr. VP and he has laid it all out, this is not far off. Remember they said you won't own anything and be happy? That includes Gold as well.
When they say it's back by Gold it's about the banking system itself.
When the dollar became the world currency 1945 under the Brenton-woods Agreement. The dollar was 100% backed by Gold. But you could not redeem trade in gold but dollars only. "the dollar was as good as gold." But we cheated and issued more dollar bonds credit than could be backed by gold, the devalued the actual value of the dollar. Thus in 1970 France demanded payment in gold not dollars. This would create a run on gold reserves so Nixon took the dollar off the gold standard (Fiat) and in 1975 the whole world went fiat. Now as planned that fiat system has failed.
Now they will institute a new Gold backed currency to replace the worthless US dollar. This time issuing the New (UNICOIN) credit will be strictly limited to the gold on hand 300,000 metric tons plus the gold of the participating nations. The new rule will be no more empty credit that de-valuated the dollar to nothing. Credit to nations will be very limited and must be paid back, no more free bailouts. This will all be strictly regulated by the coming global government. This has nothing to do with you.
When this happens all that gold you have will have to be turned in for digital credits. You get caught buying and selling by bartering with gold of other commodity for stuff you need you will be treated like a drug dealer. They will just cancel you digitally and when you run out of gold food water and shelter you either fight or die.
That's why they don't want you to have gold 8 billion people demanding payment in gold will empty their gold coffers and give you economic power, they wont let that happen.
The UNICOIN will not be traded with directly but a true benchmark Currency set with a certain price of gold per oz. All other currencies will be rated to that Unicoin dollar depending on their GDP etc. Like Britsh pund strling will be work 0.02 Unicoin gold oz. or the new US dollar will be worth 0.15 Unicoin gold oz etc.
Michael makes a good point, BRICS are not ready to replace the Dollar for trade and issue it's own new super currency for really good reasons.
The issue is the USA and Europe are huge consumers and use debt to buy. That fuels the world economy about 77% where the Yuan makes up less than 3% of all global payments in trade, because We buy BRICS exports. BRICS are very low domestic consumers and high savers. BRICS are going to have to transition from export dependent economies to internal consumer demand economies to replace the Dollar USA/EU consumption. That will take time a long time and be very painful for China running more deficits and encourage local consumption and debt something they (china exporters don't want to do. So do get off the dollar will be long and hard. China would have to print (debt) huge amount of Yuans for trade, they can't do that now thus encouraging using local currencies for trade not dollars. But the big consumers are the west and we will want dollars and euroes those local currencies will devalue quickly thus it won't last long.
China has yet to announce their new gold backed currency where the IMF has (Unicoin) backed by almost 300,000 metric tones of Gold. They are ready for the great reset and default on all the dollars and bonds. The timing is key and will be done on purpose and that will be to kill the BRICS system.
When the rest happens USA/EU consumption will drop and since the BRICS need that consumption to survive that system will collapse. Out of it the west arise as the #1 consumers again but this time have a massive new gold backed system the BRICS are not even close to introducing.
Yes the dollar will die but the plan for it's replacement is much further along than the BRICS they are just waiting for the right event to blame the reset on (the BRICS) Plus we are negotiating with India to leave the BRICS for the reasons stated and if India leaves that alone will kill the BRICS system.
Thus Xi an Putin's only result to stop the west is war
Saudi Arabia only has a GDP that is 1.4% globally but oil is a key now but the new global 4th industrial revolution that is coming will use super technology to run things not fossil fuels so Saudi Arabia days are numbered. They know that and that's why they are investing now in other money makers than oil.
I saw a interview with Lynette Zang on stansberry research in which she said the IMF has their SDR basket currencies ready to replace the US dollar. She said it won't be the brics as like you pointed out Daniel they don't have enough representation of total dollar usage. I agree with you Daniel everything is in place & all it comes down to is when they chose to collapse the whole house of cards. And bring in their beast system.
And this what makes this such a desperate situation for Russia and China. We suckered Putin into attacking Kiev believing it would take 3 days, it's now been over a year and untold 100,000 of dead Russians. This has to give China cause to pause. Yes this economic situation is rapidly spiraling out of control. No matter what happens or how this plays out this will not end well soon.
I think that the writing is on the wall. Why would anyone want a worthless fiat dollar that can be printed in perpetuity, when they could exchange it for a gold backed currency? The US should never have stopped backing its dollars with precious metals. Add to that, we've been duped into putting our life savings into the stock market, where it could be wiped out at any moment.
For those of you who think that the US is too big to fail, I guess only time will tell.
A gold backed currency at this time would be hard to administer. People would quickly turn in their currency for gold and there would be no gold left; a.k.a., 1971. I really don't think there will be a gold backed currency for decades. What will happen once the dollar becomes worthless, in a worldwide currency collapse, due to a lack of global confidence in currency, is that no currency will be the reserve currency of the world for 40 to 60 years. The world will go into a dark age with very little international trade. The whole world will be third world. Only slowly will a gold standard return to this world. The population of the planet will be gun-shy about paper currency for a long time to come.
Both the BRICS and the IMF SDR systems will be backed by Gold at a set price but you won't be able to redeem your digital currency in actual gold. Remember you will only be able to buy and sell in digital dollars. That system to replace the dollar is in place now. I know this because I have a contact in B of A Sr. VP and he has laid it all out, this is not far off. Remember they said you won't own anything and be happy? That includes Gold as well.
then what is the sense of someone saying it is backed by gold, if I can't redeem it for gold?
When they say it's back by Gold it's about the banking system itself.
When the dollar became the world currency 1945 under the Brenton-woods Agreement. The dollar was 100% backed by Gold. But you could not redeem trade in gold but dollars only. "the dollar was as good as gold." But we cheated and issued more dollar bonds credit than could be backed by gold, the devalued the actual value of the dollar. Thus in 1970 France demanded payment in gold not dollars. This would create a run on gold reserves so Nixon took the dollar off the gold standard (Fiat) and in 1975 the whole world went fiat. Now as planned that fiat system has failed.
Now they will institute a new Gold backed currency to replace the worthless US dollar. This time issuing the New (UNICOIN) credit will be strictly limited to the gold on hand 300,000 metric tons plus the gold of the participating nations. The new rule will be no more empty credit that de-valuated the dollar to nothing. Credit to nations will be very limited and must be paid back, no more free bailouts. This will all be strictly regulated by the coming global government. This has nothing to do with you.
When this happens all that gold you have will have to be turned in for digital credits. You get caught buying and selling by bartering with gold of other commodity for stuff you need you will be treated like a drug dealer. They will just cancel you digitally and when you run out of gold food water and shelter you either fight or die.
That's why they don't want you to have gold 8 billion people demanding payment in gold will empty their gold coffers and give you economic power, they wont let that happen.
The UNICOIN will not be traded with directly but a true benchmark Currency set with a certain price of gold per oz. All other currencies will be rated to that Unicoin dollar depending on their GDP etc. Like Britsh pund strling will be work 0.02 Unicoin gold oz. or the new US dollar will be worth 0.15 Unicoin gold oz etc.