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Originally posted by Jrowl1
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11,922 views Premiered 11 hours ago #silver #silverprice BRICS Move Gold-Backed 'Unit' Plans Forward Ahead Of October Meeting In KazanVarious Russian officials have made comments alluding to a greater gold involvement in the monetary system ever since (and in some ways even before) they were kicked out of the SWIFT system in 2022.Yet while there have been no formal announcements, signs of progress have been emerging. And 2 months ago Matt Riley joined me on the show to talk about 'the Unit,' which is a proposal for a payment settlement currency that would include a 40% gold backing.Today Matt returns to the show and provides an update on how the plan is evolving ahead of the BRICS October meeting, and whether he expects an announcement at that meeting. We also talk about whether a successful Unit would ultimately force the west to put some sort of collateral behind their own currencies, and whether he expects people to front-run the move if the plan continues to progress and eventually become more public.
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Good because brics will have partially gold back currencies. The west have crypto and are not on the Gold standard. Central bank digital currency may be an issue for the west?
