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🔴 BRICS GOLD-BACKED CURRENCY: Vivek Points Out Value In Gold Backed Currency, Supports Gold Standard
In recent years, there has been growing interest in the idea of a gold-backed currency, especially among the BRICS nations – Brazil, Russia, India, China, and South Africa. Vivek, a prominent economist, has been a vocal advocate for the implementation of a gold standard and the adoption of a gold-backed currency by the BRICS nations.
Vivek points out the value of a gold-backed currency, arguing that it provides stability and confidence in the monetary system. “Gold has been a symbol of value for centuries, and it has stood the test of time as a reliable store of wealth,” Vivek explains. “By backing a currency with gold, it ensures that the value of the currency is not subject to the whims of central banks or government policies.”
The idea of a gold standard is not a new one, as many countries had adopted it in the past to maintain stability in their monetary systems. However, in the last century, most nations have moved away from the gold standard and have adopted fiat currencies, which are not backed by any physical commodity. This has led to concerns about inflation, currency devaluation, and economic instability.
Vivek argues that by adopting a gold-backed currency, the BRICS nations can strengthen their economies and insulate themselves from the effects of global economic fluctuations. “A gold-backed currency provides a solid foundation for the economy, and it instills confidence in investors and consumers alike,” Vivek asserts. “It also sets a standard for financial responsibility and discipline, which is essential for long-term economic growth.”
In addition to the economic benefits, Vivek believes that a gold-backed currency can also serve as a tool for geopolitical influence. “By diversifying away from the US dollar and adopting a gold-backed currency, the BRICS nations can reduce their reliance on the US-dominated financial system and assert their economic independence,” Vivek adds. “It can also challenge the dominance of the US dollar as the world’s reserve currency, and provide an alternative for countries looking to hedge against currency risks.”
While the idea of a gold-backed currency may face challenges and resistance from established financial institutions and governments, Vivek remains steadfast in his support for the implementation of a gold standard by the BRICS nations. “The benefits of a gold-backed currency are clear, and it is time for the BRICS nations to take the lead in re-establishing the gold standard as a pillar of the global monetary system,” Vivek concludes.
As the global economy continues to face uncertainties and challenges, the idea of a gold-backed currency may gain traction among the BRICS nations. Vivek’s advocacy for the adoption of a gold standard and a gold-backed currency serves as a compelling argument for the potential benefits of such a monetary system. Only time will tell if the BRICS nations will take the bold step towards embracing a gold-backed currency and reshaping the global financial landscape.
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Come to soon my deamond must give me here my home no bank only please
USA has huge land reserve – USA can utilize that — JUST like GOLD a noble metal which is natural resource — Sunlight / wind mills can be used as commodity for dollars — USA can put huge Solar power generation and utilize Free Sunlight for pegging its currency .. That is brilliant idea. Just like PETRO DOLLAR . One can have SOLAR Dollar or WIND DOLLAR .. Totally confined to the territory of the country which is massive.
Dollar became International reserve currency in 1944 with GOLD as standard — Dollar was pegged at 35 for an ounce of gold in Bretton Woods Agreement 1944 ( with 44 countries participated in It ) . Jan 2024 one Ounce of Gold is USD 2014. In other words Dollar as depreciated 57 times (2014/35) . in 1944 one Dollar could buy 0.03 Ounce of gold — Today the same 1 dollar can buy only 0.0005 ounce of gold ..
Tying a currency to a commodity is fine, as long as there are mechanisms to keep it at that value. The USD is tied to 2% inflation ideal. The FED is authorized to attain that value along with a target unemployment rate. It could be told to target gold.
If there is no mechanism to retain a BRICS target it would not hold its value any better than any fiat currency.
Vivek sounds so intelligent then makes a bad conclusion for political doctorine. The FED is what gives value to the dollar and separates politics from economic rationality.
There is no academic argument against the Fed, although hard assets to back 5he currency might be a good argument.
But the USD is a threat to the world.
I HAVE AN ALTERNATIVE. HOW DO I GET PEOPLE TO LISTEN. LENA ? IT IS BASED ON YEARS OF RESEACH. I AM NOT FAMOUS NOR RICH BUT I HAVE 3 DEGREES 1/2 A Ph D AND I HAVE BEEN THE CEO OF A INTERNATIONAL COMPANY AND MANY YEARS OF EXPERIENCE
Brics is falling apart, Just look what is happening in China financially
War and economics experts believes that why use unguarantee usa overprinted very very cheap 0.002cents a piece usa dollars as reserved for what??? Better to change for solid gold??. As unguarantee dollars can become very very cheap??.. especially when smart usa dare to overprinted BUT not dare to guarantee it's dollars trustworthy?. Like if we want to cash the overprinted dollars?. We can change for 1ozs of pure solid gold for how much usa dollars?.. so usa not dare to provide assurance and guarantee for its usa dollars ??.. has actually encourage all to ditch and don't trade in unguarantee usa overprinted dollars anymore??.. and soon all nations will not accept usa overprinted dollars into their banks anymore?…..
There is 0 chance of a golld standard coming back. Its just not practical to transport all that gold throughout the world in the 21st-century– especially with that terrible problems of piracy, Terrorism and sabotage now through cheap and very effective war technology e.g. drones. The future is digital.Maybe they will successfully implement CBDCs, but they will collapse just the same as the currencies, because they will still be printed and susceptible to market forces.
*Ultimately, it will either be bitcoin, or constant crashing and bailouts
The USA screwed themselves real good once the stole 300 billion from Russia!! Now no one will want usa dollars or anything to do with USA!! They will all come to the same conclusion that imperialist usa has no friends and screwed every single partner!!
Vivek comment to take power from the Fed and focus only on stabilizing the papers value attaching it to a precious metals gold standard is the only way to stave off $ flight. We should then drill oil like crazy and supply our own needs first which would drop prices of all our goods, and then sell excess for other gold backed world currencies!
This video will be taken down soon
Only way to keep. Value-
That train has left the station!!! Bit too late for the US and its lapdogs, UK, Aus and Western Allies!!
Why is Vivek out of the race?
❤❤❤
Vivek was wrong. The Federal Reserve is NOT a part of the Federal Government. It is a private corporation.
What is the real meaning off a threat?
If loosing it means a threat, then we are all a threat, ECB , EU ,whatever!!
My God she's Beautiful !
THE PETRODOLLAR SCAM IS BREAKING DOWN!
The sanction tool was abused to an extreme to a point were countries started opening their eyes & started developing their financial system & free market strategy not based on the value of on one individual countrys interest!
You have gone from a warm one to an icy face. The warmth is now in the background, below. The decor is visually stunning but we need the warmth back on your face. That is all on that. The Brics currency, along with all the things the west is trying to disparage and sell; The Chinese navy, economic collapse, are all gaslighting, for luck. 1 billion still low paid experts, creating far cheaper and better products than all the mature economies, including Japan, cannot fail. Might slow down but the economies of scale and cost are insurmountable.
Why should the FED back the Dollar by commodities, if the US have installed a military complex all over the world?
Well the US dollar as the reserve currency is actually a tax on all countries that have to use the US dollar for their trade and financial transactions. So countries that are moving away from the US dollar is de-risking.
I will give a very simple example, during the late 1990s financial crisis(Leman bro's collapse) Malaysia had huge outstanding US dollar repayments of their borrowings and of course the sharks saw this and George Soros bet heavily against the Malaysia ringit and made it more expensive for Malaysia to buy US dollars to service their debt and cause the Malaysia ringit to collapse! Than Malaysian PM Mathathir step in and peg the US dollar to the Malaysian dollar to stop the free falling of the Malaysia dollar against the USD.
"President Trump Pledges to Never Allow a USA Central Bank Digital Currency"….
This one thing alone should be enough to motivate any clear thinking American to vote for this man! Make no mistake, a CBDC means the END of individual freedom….. Period! Vivek Ramaswamy is 100% correct regarding the dollar.
My, that Vivek acts and talks smart and penetrating. Haven't really seen him perform before. If he and Trump teamed up (and barring any smears and scandals effectively being generated by The Blob) they'd make a heck of a team.
Even if the USD is pegged against any commodity, it will not help much since the USA has made it a habit to weaponise the Dollar. The US weaponisation of their currency has made the Global South lose faith in the Dollar as global reserve currency. For example, the West have decided to sanction Russia, not only that, but they also froze $300 billion of Russia's reserve currency. Now that doesn't inspire much confidence now does it?
To be honest there is no value in the dollar
Foreign nationals are anti-American.
Wow , finally a presidential candidate who can put more than two sentences together with out teleprompter or sounding like senile old man like Biden or a 2 year old with very limited verbal skills like Trump
Many years ago, many countries had to lower their currency value to survive. I am not an economist , but when a country has debts in dollar and its more than double it value , I see a huge problem with that. Also, the dollar being so high , it causes loses for the tourism industries that employ thousands of people. The cities loses on taxes and others.
Chinese e-commerce the prices are in dollar . Good for American consumers but not the rest of us. Computers from high brands even assembled in our own country , the prices follows the U.S market. This is another problem.
Would U.S citizens buy a computer for 10k,20k to work? I don’t think so. Would Americans buy a car that is worth 15k for 120k? Long time ago, a U.S journalist talking with a Brazilian journalist friend said: you guys are richer than us because you pay everything higher than us: electricity, gas that you own, transport, food, beer, everything . You guys are richer than us Americans .
THE WORST ENEMY of the US dollar is our politicians, who insist on OVERSPENDING & INCREASING THE NATIONAL DEBT.
Just saw that the dollar has declined in exchange with the traditionally weak Costa Rican colon. In 2022, the exchange rate was 650 colones to one US dollar. NOW, exchange rate has DROPPED to 510 colones to one dollar. THINK ABOUT THAT – when the dollar drops against the currency of a tiny nation like Costa Rica, what does it say for our economic future ?
Lena I couldn't happier about they deserve it espcialy it mean the small will market on a level playing field for once. They buy sell with the reserves that and elegally. That how they ransom a lot African counties and is the want them out. Sorry to many things at once that just my opinin any how ❤bye and thanks.they great minds think alike I never bieved that ❤ jf
Stabilizing the US dollar by pegging it to the US gold reserves would make the US sovereign debt unrepayable. The US will first inflate away the dollar and thereby their debts before they will introduce a gold-backed CBDC.
I don't think that it should be backed by Gold and Silver it should be the Actual Money to the BLOCKCHAIN TECHNOLOGY Coins of many Commodities as well. The reason is they can always change it. But not on a Decentralized BLOCKCHAIN.
Let me see using the US$ to control countries. Freezing assets of independent nations. Controlling transfers through SWIFT system. The expectation that the created invisible empire will last forever is mind bubbling. There is a possibility that Argentina will move to use US$ as currency and will have a huge success (backed by Uncle Sam) and with it a soft way forcing other Latin America countries to switch to dollar. I think that might be a back up plan to counter balance BRICS. PS: Using gold for backing a currency is stupid. Gold market is huge and lot of people manipulate / speculate and make huge money with it are pushing the idea.
How to fix it, you ask any bank for lone and wait for answer.
This is how.