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File: 21 KB, 940x146, Screenshot 2023-07-08 at 11-14-40 Russia confirms BRICS will create a gold-backed currency.png [View same] [iqdb] [saucenao] [google]
55497625 No.55497625 [Reply] [Original]

https://www.kitco.com/news/2023-07-07/Russia-confirms-BRICS-will-create-a-gold-backed-currency.html

>> No.55497636

>>55497625
You mean, our currency isn't backed by gold now ?

>> No.55497638

>>55497625
>LOLRUSSIA
How can you tell if a Russian is lying?
Yeah, you know
They are literally hiring bot farms to invade any vaguely BRICS related topic on the internet. Says something about how useless they are.

>> No.55497644

>>55497638
Forget about Russia. Many other countries are joining in on BRICS. That being said, although it can be great for gold, it should also be met with immense skepticism because they probably only have the ability to back only a fraction of it with actual gold. So in a sense it's a scam. Curious to see how this will affect gold prices int he next few years.

>> No.55497646

>>55497625
Anyone here just get a sense of optimism when it comes to the BRICS? Idk why but I'm genuinely happy for them. G7 just seems depressing as fuck.

>> No.55497649

>>55497625
>>55497636
>>55497638
>>55497644
>>55497646

This is so extremely bullish for XRP holy shit

>> No.55497664

>>55497644
the only countries which join brics are shithole aids trashpiles with dead currencies.

>> No.55497671

>>55497646
>Anyone here just get a sense of optimism
It involves South Africa and India, that's all you need to know it's going to be a clusterfuck. So no.

>> No.55497676

How can you create gold backed currency if your gold supply is low? And doesnt countries with most gold (a.k.a not brics) can manipulate your currency?

>> No.55497708

>>55497638
That was anticipated for almost 30y by now and no one right in their head questions this

>> No.55497720

Explain to me how this is bullish for gold, for really anything economically. Besides the fact that these countries are hardly relevant, are massively unstable and fake statistics harder than the US can print money. At best its a simple financial attack on US systems to crash world economies. Nothing more.
Unironically the only thing to benefit from all this is crypto.

>> No.55497729

>>55497646
I honestly think you just say that because you are an underdog in life and they are underdogs too. So naturally you'll root for those you identify with. Don't take it the wrong way.

>> No.55497782

>>55497729
Its just because the west is an eldritch form of evil that wants to rewrite your humanity with systemic social programming, whereas BRICS states are just classic slave / labor / extraction systems and they wont fuck with you as long as you provide something.

>> No.55497791

>>55497720
It depends on how much of their currency should be backed by physical gold. There should be a small percentage of it, like how EU banks can leverage 50X for every euro they have. If the amount that they must have is large enough to create large purchases of gold for backing, then the price should increase due to supply and demand.

>> No.55497814

>>55497646
lmao

>> No.55497848

>>55497782
You're taking a very machiavellian commoners attitude to this question.
You're dissatisfied with current rule so you side with the next tyrant if only to stick it to the current.
And you're right starting off, they probably won't fuck with you, untill they do and then you'd wish you sided with your current tyrant and didn't open the gate for winnie the pooh.
>>55497791
But if it is large it puts China in a weaker position. They're still heavily dependent on export, their export would become more expensive over time whilst others can do it more cheap? Won't companies decide to leave china for manufacture and go elsewhere?

>> No.55498036

>>55497646
Yes. I hate G7+EU moralfags. Muh Ukraine

>> No.55498046

>>55497625
>try to redeem useless fiat notes for actual gold
>here is your gold certificate bro

>> No.55498064

>>55497676
You produce goods and services and trade them for gold. Gold is money. It is a fungible medium of exchange that facilitates trade of goods and services. If you don't produce anything of value in the first place, you don't have anything to trade with. Gold doesn't change that. It is just a stand-in for what you produce. Some countries will start out with more gold in hand, but that won't last long if they don't produce anything of value. All of their gold will be soon spent.

>> No.55498069

>>55497664
I smell desperation. The days of dollar dominance are numbered.

>> No.55498078

Two more weeks of a special operation until Russia creates a new gold-backed currency they use to trade with all of the BASED countries like India and South Africa

>> No.55498124

Buy gold and guns.

>> No.55498192

>>55498064
So in this case, russia, brazil, SA and India? They world trade percentage is laughable

>> No.55498195
File: 7 KB, 250x250, 1517249582789.jpg [View same] [iqdb] [saucenao] [google]
55498195

How much will gold pamp bros?

>> No.55498291

>>55497649
how?

>> No.55498339

>>55498036
Based

>> No.55498346

>>55497646
this makes mutts seethe

>> No.55498471

>Brazil
>Russia
>India
>South-Africa

Lol, lmao even

>> No.55498476

>>55498346
>Mutts
>Brics is 10% white

>> No.55498502
File: 586 KB, 1216x698, 324675432.png [View same] [iqdb] [saucenao] [google]
55498502

>>55497646
G7 and BRICS are both globohomo

>muh based China
It's not based at all, globohomo puppets and the WEF is literally copying their social credit score system and implementing it with carbon credit scores and other dystopian restrictions for future pandemics and climate change

>> No.55498517

>>55497638
>They are literally hiring bot farms
that's the jdif

>> No.55498611

>>55497644
This.
But according to common knowledge this should be priced in already.
However, it's not, thus showing that the gold market is massively manipulated to the downside.

>> No.55498629

>>55497720
>Russia
>China
>hardly relevant

>> No.55498682

>>55497638
>I'm all in USD and I trust the system.

Look bro, I know it's painful to hear but you've been lied to. You still have time to move assets.

>> No.55498683

>>55497625
Good luck trying to compete with US military funding on a gold backed currency, when you can't keep up even wirh fiat

>> No.55498692
File: 3.38 MB, 320x250, 1688704333602967.gif [View same] [iqdb] [saucenao] [google]
55498692

>>55497664
Top signal for Fiat.

>> No.55498694

>>55498471
It's like the EU except every country is Greece

>> No.55499251

>>55498471
Forgot china retard

>> No.55499331

>>55498192
The BRICS exceed g7 in GNP. So laugh it up.

>> No.55499349

>>55498683
Maybe the USA spending massive amounts of money it doesn't have on a failing world empire isn't a good economic strategy?

>> No.55499350

>>55499251
No im just laughing at all the other shitholes.

>> No.55499505

>>55499331
Now divide that gnp to population. Also most of that GNP is China and China gains nothing, even loses from gold backed currency

>> No.55499524

>>55497638
>>55497644
>>55497664
>>55497671
>>55497720
Fed bots. You're so fucking scared of losing power.