/biz/ - Business & Finance

>>55935368
You're missing the point. Yes, any precious metal can be used as money. But that doesn't change the fact that banks are stacking gold. So it will remain the primary monetary metal, and your opinion isn't going to change that. But you can stack platinum despite that, if you think it's worthwhile. Personally I don't bother because I think silver and gold is enough.

>>55700345
BRICS aren't doing a gold currency. It's a digital currency, and the gold is simply used as settlement for trade. The average pleb isn't going to be paying with gold coins.
It's not really much different than when the US dollar was backed by gold, prior to 1971. Gold as money was made illegal in the US in 1933, although plebs could still buy it (for example as collector items), they just couldn't officially use it to purchase things or pay their debts or taxes. Gold at that time was only reserved as settlement for trade between countries. But that's not a 100% accurate comparison, because silver coinage was still officially being minted in the US until 1965, whereas the BRICS probably won't be doing that.
Pic related: the french went to redeem their gold because they didn't feel comfortable leaving a large balance in the hands of foreign country. Not too long after that is when the US dropped the gold standard entirely. Wonder what happened to all the other countries that where owed gold. Did they get ever get paid?

>>54849118
Countries be they dictatorships, kingdoms or republics are sick of the “Anglo-Saxon” petro dollar

>>52212659
DeGaul buck broke the US

>>50315956
>>50315978
Based De Gaulle