De-dollarization Explained With a Gold BRICS Currency! ft. Peter St Onge

In this video, Peters discusses the recent news that the Russian Embassy in Kenya announced that the BRICS countries plan to introduce a new trading currency backed by gold. However, it is important to note that Russia has been claiming a gold-backed currency is imminent for years, and the Russian Embassy in Kenya is an odd place to announce such a transformational shock to the world's currency architecture. While a genuinely gold-backed BRICS currency could threaten the US dollar, the key is how gold backing is structured. Furthermore is important to point out that it is unlikely that a genuinely gold-backed currency will be issued, and it is more likely that a gold-backed BRICS currency will look more like mortgaging existing gold reserves and converting those into development bank loans that amount to a slush fund to bribe countries off the dollar.

Peter St Onge from @Profstonge has granted us permission to upload this video for our audience.
Peter's Twitter: https://twitter.com/profstonge?s=20
Peter's Substack: https://stonge.substack.com/

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DISCLAIMERS/TERMS/RULES:
► I am not a professional financial adviser, nor do I offer financial advice. This video is for entertainment only. Please consult your investment and tax experts for financial advice.

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