That article doesn't differentiate the two types of systems in play here. One is FIAT backed, whilst the other is Gold backed.
Contrary to popular economic theory, I would much rather have a currency that was backed by a tangible asset than a currency debased on debt. It's precisely the reason I switched Fiat to BTC. The reason why Russia's plan is more likely to succeed, other countries are seriously questioning and challenging the hegemony proliferation of the US$. The $US is debasing closer to 14% per year. The more they print, the faster it debases. That is the inflationary affect we are witnessing now. It is also why it is not sustainable. Sure, if every nation agrees to adopt it as the Global Reserve Currency, then it will continue along without any concern for rising inflation. The big elephant in the room, is of course not every country wants to be tied to that proposition of a Global denominated currency that primarily benefits one country. That being the US of course.
This is where Putin has taken the first step. Russia is rich in resources, sanctions or no sanctions, it will eventually thrive. China, India, Iran, and a host of other nations will trade with Russia because it has a strong currency backed up with resources, including Gold. There will be many more countries that will move away from the West economic thinking and move to a more Unipolar World where trade in commodities can be pegged to a basket of currencies operating under that system.
That is not just from me saying that.
The writing is on the wall.
Unipolar countries will thrive, because they are no longer controlled by the Hegemon powers.
