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Covert Geopolitics — Russia Confirms BRICS Will Create A Gold-Backed Currency

Summary:
In a recent meeting in Cape Town, South Africa, the foreign ministers of the BRICS countries, along with representatives from more than twelve nations, emphasized their intention to establish an international trading currency.Sounds more like an international payments system rather than a currency for public use. Some details are given but so far it is nebulous other than the joint commitment to do it.Covert GeopoliticsRussia Confirms BRICS Will Create A Gold-Backed Currency

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In a recent meeting in Cape Town, South Africa, the foreign ministers of the BRICS countries, along with representatives from more than twelve nations, emphasized their intention to establish an international trading currency.
Sounds more like an international payments system rather than a currency for public use. Some details are given but so far it is nebulous other than the joint commitment to do it.

Covert Geopolitics
Russia Confirms BRICS Will Create A Gold-Backed Currency


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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