Latest / On The Record with Christian Briggs
BRICS' Gold-Backed Currency: A Game Changer for Global Trade
Every time we see BRICS gain another member country, or more percentage of localized currencies being utilized in purchases and sales. BRICS announced that they are going to have gold back their new currency. Up to 40 percent in physical gold, and 60 percent utilizing local currencies to help backstop it. They're going down the road that we did for a century, and then in 1971, President Nixon terminated the convertibility of the U.S. dollar to gold. BRICS is going to this because it's the only way they can dominate the world's stage of currency usage. And just recently, the president of…
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