Gold

Elon Musk

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 <p><a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> is looking to create a common currency using <a rel="dofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> that could challenge the US dollar in the international trade sector. The speculation comes after <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> countries China, India, and Russia splurged on accumulating <a rel="dofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> this year. The top buyers of <a rel="dofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> in 2023 will be the Central Banks of the <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> countries, according to the World Gold Council.</p> 
 <p>BRICS aims to make their yet-to-be-released currency take on the US dollar and topple it from its global reserve status. This puts the American economy under pressure, as the US will have little means to fund its deficit.</p> 
 <p><strong>Also Read: BRICS: Elon Musk Reveals Why Other Countries Are Ditching US Dollar</strong></p> 
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 <h2 class="wp-block-heading" id="h-brics-common-currency-could-be-linked-to-gold">BRICS Common Currency Could Be Linked To Gold</h2> 
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  <img decoding="async" width="1024" height="683" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" alt="usd usd dollar gold precious metals brics" class="wp-image-103977 ewww_webp" sizes="(max-width: 1024px) 100vw, 1024px" data-src-img="https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp" data-src-webp="https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp.webp" data-srcset-webp="https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp.webp 1024w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp.webp 300w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp.webp 768w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp.webp 380w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp.webp 550w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp.webp 800w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp.webp 1160w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp.webp 1200w" data-srcset-img="https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 1024w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 300w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 768w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 380w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 550w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 800w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 1160w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 1200w" data-eio="j">
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   <img decoding="async" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp" alt="usd usd dollar gold precious metals brics" class="wp-image-103977" srcset="https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 1024w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 300w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 768w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 380w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 550w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 800w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 1160w, https://cdn.thebittimes.com/images/2023/09/19/f775f401c2bf42c3f28426ec64cc1512.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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 <p>Economist Jim Rickards revealed in a recent video conference that the upcoming currency could be linked to <a rel="dofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>. He stressed that <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> might not be backed by <a rel="dofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a> but could be <strong>“<a rel="dofollow" title="GOLD" href="https://thebittimes.com/tag/gold.html">GOLD</a>-linked”</strong> when it’s launched in the global markets.</p> 
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 <p><strong>Also Read: <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a>: Can Saudi Arabia Ask the US To Pay For Oil in Local Currency?</strong></p> 
 <p><strong>“We’re going to have a common currency (BRICS) which will be linked to the weight of gold,” </strong>he predicted. He explained that being backed by gold would make it worthless, as the US has more gold than the BRICS. Therefore, the BRICS currency being “linked to gold” will make it stronger in the markets. Rickards stressed that being linked with gold will make BRICS stable, as the precious metal rarely experiences volatility.</p> 
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    <p lang="en" dir="ltr">Jim Rickards explains is perfectly as always..<br><br>“We’re going to have a common currency (#BRICS Dollar) which will be linked to the weight of #GOLD.”<br><br>Once you have that, you don’t have to do anything to maintain its value, gold does the work.#XRP https://t.co/Eyckv0kQkp</p>— Chad Steingraber (@ChadSteingraber) September 18, 2023
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 <p><strong>Also Read: 2 <a rel="dofollow" title="BRICS" href="https://thebittimes.com/tag/brics.html">BRICS</a> Countries Settle Oil Trade in Local Currency, Ditch US Dollar</strong></p> 
 <p><strong>“If a BRICS currency equals gold, you get a BRICS transfer exchange rate. Here’s the key, you’re not linking BRICS (currency) to the US dollar</strong>. <strong>You’re linking the currency to the weight of gold</strong>. <strong>Which means the dollar value fluctuates, and if BRICS is linked to gold, the dollar rate fluctuates (but BRICS will not fluctuate and remains stable)</strong>“<strong>,</strong> he said.</p> 
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 <p>In conclusion, Rickards predicted that a time would come when the US would have to do everything to maintain the markets.<strong> “In other words, the US will do all the dirty work. They (US) will have to maintain the markets, they got to speculate, they got to hedge, they got to put capital.”</strong></p> 
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<div class="cs-entry__tags">
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  <li>BRICS</li>
  <li>BRICS Currency</li>
  <li>GOLD</li>
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/brics-currency-to-be-linked-with-gold-says-economist-tbt63251.html">https://thebittimes.com/brics-currency-to-be-linked-with-gold-says-economist-tbt63251.html</a></p>

BRICS Currency To Be 'Linked' With Gold, Says Economist

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