BRICS countries consider moving back to Gold Standard

250Rocket

250Rocket

Well-known member
The BRICS countries are considering starting an internal gold trading platform, according to Russian officials. When this happens, the global economy will be significantly reshaped, and the West will lose its dominance, predicts a precious metals expert.

“As Bejing and Moscow understand that America used the dollar to control the world, by implementing a new kind of ‘Gold standard 2.0’ they want to distance themselves from this control. Furthermore, the vast majority of the people in Asia sees gold as superior, or ‘real’ money, something the West has forgotten, because of all the paper wealth (credit) they have accumulated,” said Grass.
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https://www.rt.com/business/412546-china-russia-gold-standard-dollar/


While the plebs are jumping on board en mass to digital fools gold out of greed, it seems like the east is looking at setting up true wealth via a new gold standard. They've been amassing the yellow stuff like crazy, by some accounts even more so off the books.

Gold and Silver has always been genuine wealth and we're doomed to repeat history from the day Nixon abolished the gold standard. It's going to be a total blind side to most, especially the average American. Little do they realize how much precious metals are being manipulated downwards by paper shorts on the COMEX.

On a side note, I can't help but laugh at Bitcoin fanatics who praise the entry of Wall street. Firstly the whole concept was for Bitcoin to be independent of the corrupt fiat system but do they really think it'll be to their benefit? Wall street's gonna hoover up the little money by playing their games with their billions then ultimately squash Bitcoin as they do PMs because it's an enemy to their rigged dollar printing press.

By no means is it a certainty that Russia and China will go through with it any time soon, but if they do, be sure you're holding some shiny stuff in a vault somewhere. The more likely scenario is that they let the dollar fail by itself and then kick on their system like a financial back-up generator.

For future reference this weekend Gold is $1248 USD per ounce and Silver is $15.85 USD/oz
 
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Sauf que le pays avec la plus grande reserv e d'or sont les etat unis... fonctionne pas leur affaires

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I'm considering becoming a billionaire. really. I am.

how exactly will these countries sustain gold standard? it's not really a thing anymore. it hasn't been for decades.
 
vladjet2000 said:
I'm considering becoming a billionaire. really. I am.

how exactly will these countries sustain gold standard? it's not really a thing anymore. it hasn't been for decades.
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The gold standard has existed for millenia. Eventually we keep coming back to it.

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vladjet2000 said:
I'm considering becoming a billionaire. really. I am.

how exactly will these countries sustain gold standard? it's not really a thing anymore. it hasn't been for decades.
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would going back to the gold standard a good thing if a single or bloc of countries do it?

from a game theory perspective, competitive advantage of currencies, dynamics of export / import, etc. it could be a bad choice.
 
Setak said:
Sauf que le pays avec la plus grande reserv e d'or sont les etat unis... fonctionne pas leur affaires

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Except if they do have that much and if shit starts to go down it will be in their interest to also get in on the gold band wagon

Spaceman Spiff said:
http://1.bp.blogspot.com/--qPBqcais.../ZPgitkOuU0I/s1600/goldline%2C+glenn+beck.png
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If anything that's just a really clear message not to buy from Goldline since obviously their management lacks intelligence for hiring GB as a spokesperson.

vladjet2000 said:
I'm considering becoming a billionaire. really. I am.

how exactly will these countries sustain gold standard? it's not really a thing anymore. it hasn't been for decades.
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Gold/Silver is not a get rich quick scheme. Yes a few times over the course of history it has corrected after being neglected but for the most part it's about wealth preservation. If a Venezuelan bought an ounce of Gold or 100oz of Silver before their currency got trashed, that currency they would have had sitting in the bank would be reduced to effectively nothing as hyperinflation kicked in but they'd be able to sell back the Gold/Silver for 1000's of times the amount. It would still probably buy the same amount in the new hyper inflated terms, maybe a bit more. So yes they got "rich" but not in practical terms. It's more like they didn't get wiped out.

The gold standard back in the day was a means of limiting government spending. To produce paper money (a physical Gold IOU) they had to have a gold reserve. Nowadays they just call up the FED and print en mass. If you're really serious about understanding how messed up our system is and why Gold worked I would suggest the "Hidden Secrets of Money series"


KossaK said:
We should comeback to SeaShell.

SeaShell was the first know currency for humanity.
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I expected better of you. Not durable nor fungible
 
'Before 1974, U.S. dollars were backed by gold. This meant that the federal government could not print more money than it could redeem for gold. Learn more: http://bit.ly/1HVAtKP. While this constrained the federal government, it also provided citizens with a relatively stable purchasing power for goods and services. Today's paper currency has no intrinsic value. It is not based on the value of gold or anything else'


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If you think about it, with exception of the poorest of poor people, everybody has gold and silver. Whether it's a necklace, a ring or a bracelet, while not 100% gold/silver, they still have some. To a certain degree it is the best distributed asset.

More so it's programmed into just about every culture of the world that it represents wealth. Just in English language you have:

- Worth it's weight in gold
- Good as gold
- All that glistens is not gold
- Sitting on a gold mine
- Streets paved in gold
- Goose that lays the golden egg
- Silence is golden
- Golden years
- Golden ticket

Furthermore:

- If you place first in competition they give you a gold medal.
- People wear gold bands to symbolize their commitment.
- It's a pot of gold at the end of the rainbow
- Oil is referred to as black gold

And I probably forgot a bunch of others. Until all of this is deprogrammed (near impossible), it's here to stay whether people like it or not.
 
How much does Gold worth, and who much did the price increase in the last 5 years ?

Edit : Much wow, must be really in demand right bow by all BRICS country. You guys sure it is not for other purposes, such as protecting their currency against inflation/deflation or something.

1d7851a3156df087cc46a794ea962593.jpg
 
SRT-What? said:
How much does Gold worth, and who much did the price increase in the last 5 years ?

Edit : Much wow, must be really in demand right bow by all BRICS country. You guys sure it is not for other purposes, such as protecting their currency against inflation/deflation or something.

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A picture is worth 1000 words except it's out of context. 5 years is microscopic for gold. Shown in the correct windows, 5 years can show some amazing gains or some bad losses but over time it endures.

Moreover every time in recent past they have started to shoot up, the paper futures market crush them back down
https://www.bloomberg.com/news/arti...ds-alleged-to-show-banks-rigged-silver-prices

To add to that many precious metals people are jumping ship to get in on the false profits of Crypto. They got called away by a sirens song.

Next if you had something really desirable on sale would you not want to keep it that way for as long as possible. China and Russia are probably ecstatic that they're getting it at less than $1300 an ounce.

People always throw out the line "buy low, sell high" and then those very same people buy into over inflated things like tech stocks or houses and completely ignore the truly unloved and low assets.

Since you seem more interested in gains over preservation, do your own homework on Silver.

As a starting point look up its monetary history, its current industrial uses and its usage to extraction ratio.
 
Still dont see the point of owing gold. Wouldn’t it be safer to hold shares of a large canadian bank for example (which provides 4% income and capital growth, in a highly regulared and protected market ) instead of metalic chips earns me nothing ?
 
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