Today Nomi Prins, who has given keynote speeches to the World Bank, IMF, Federal Reserve, and many other prominent institutions, warned King World News that what is about to be announced will shock the world.
A New World Monetary Order
July 16 (King World News) – Eric King: “Nomi, there is going to be this gold-backed currency introduced (in August) by the BRICS — this is a very big deal. I told you before we kicked off this interview that I’m not sure people understand what this will be like (for BRICS countries and their citizens). I think it’s going to be a trade settlement currency among all of the countries involved so that every month or every quarter they settle the trade imbalances in physical gold. So it will be very important for BRICS countries to maintain a proper trade balance as they go forward and they are part of that gold-backed currency, otherwise they are going to have to give physical gold to the other country they have a trade deficit with to make up the imbalance.
I don’t think this gold-backed currency is necessarily going to be available to the citizens of the BRICS countries, but it does certainly reintroduce gold back into the monetary system for 70% of the world’s population that is living in those countries under this new trade agreement and this gold-backed currency, correct?”
This Will Shock The World: First Gold-Backed Currency Since 1971
Nomi Prins: “That’s exactly right. I agree with you and I don’t believe that it’s going to be something that the average citizen can get their hands on in terms of a currency for buying and selling digitally or otherwise. That (introduction of the BRICS gold-backed currency) is an exciting development. It’s been talked about for a while with BRICS. This started being talked about in the wake of the Great Financial Crisis of 2008-2009. I wrote a bit about this in my book Collusion: How Central Bankers Rig The World because at the time the Chinese, the Brazilians, as two of the main central bankers, were very unhappy with how the Fed dealt with the banking crisis as were a lot of people.
So that was the beginning of conversations about having something else that could calibrate the trade backed currency of nations that don’t want to have to rely on the dollar. That’s what we’re seeing here. I think it’s a really exciting development. And it does mean, as you said, that these (BRICS) countries are going to want to want to increase their stockpiles of gold in order to be able to have the flexibility to trade in a gold-backed environment.
And that’s all very exciting for gold, it’s very exciting for the world. What it does is, since 1971 (when Nixon took the US off the gold standard), it creates a new time where we are looking at a physical, hard, non-printable asset (gold) to back global transactions.”
Eric King: “Nomi, I read to you what Alasdair Macleod had written on King World News. It had a quote from the Iranian media. It was discussing how this would enhance the wealth of Iranians that held gold and presumably under the banner of the BRICS everyone that has physical gold in their possession (as well as everyone else in the world who owns physical gold).
“The BRICS’s introduction of a gold-backed currency, which is supported by 41 countries with large and influential economies, will weaken the dollar and the euro and will benefit countries such as Iran, while Iranians in possession of gold will experience a wealth increase,” Mousavi added [the head of the South Asia Department at Iran’s Foreign Ministry]. The Russian government confirmed a day earlier that Brazil, Russia, India, China, and South Africa would introduce a new trading currency backed by gold. — Iran’s MEHR News Agency
Western Media Blackout
Eric King continues: “The hint there is that the price of gold is going to go much higher. The people in the West have no idea this is happening. As you can imagine, when you are running a fiat money scheme that’s backed by nothing, which all countries in the West are doing, when your paper is backed by nothing and it’s going to end up at (it’s intrinsic value of) zero someday, you don’t want to talk about some other group of nations going to a gold-backed currency. So none of this was mentioned anywhere in the entire Western media — a complete blackout (of this news). At some point this is going to leak out. The smart money is starting to digest this news already. You can see the bid in gold and the mining stocks that took place, Nomi, so I think this news is leaking to the right people in the West that have the big money to push these markets around.
But this is going to have to come out at some point in the West. They’re going to have to acknowledge there’s now a new monetary system for 70% of the world’s population where the governments are now trading in this gold-backed currency and will settle trade in gold. And the West always said and they always tried to peddle the lie, ‘Oh, gold is just going to be a component (of the new currency), we’ll have a whole basket of currencies and commodities backing the new currency,’ which never made any sense to me. Then the fiat currencies (technically worthless money backed by nothing) were gone and it was going to be commodities and gold that were backing the new currency. The BRICS said no, forget all of that (propaganda out of the West), we’re just going with gold. So that’s going to have a great impact on the price of gold. Do you have any idea what that will mean going forward?”
The Third Great Gold Rush Is Coming
Nomi Prins: “It’s all going to lift the price of gold. And you’re right, there is money that’s moving into gold in those countries, on an institutional level, and I think, ultimately, it will get more into the minds of retail investors and savers around the world.
Federal Reserve And Bank of England Are Afraid Of This
Now the United States, as you said, has been very against the concept of any form of any kind of gold-backed currency because they can’t control it. You cannot print gold and you cannot print a gold-backed currency. And so this is something that the Fed, Bank of England and so forth, they are afraid of. They are afraid of losing that kind of power over currency, particularly the United States. But again, all of this is going to drive up the price of gold because it’s in motion. And I’ll tell you something else which is very interesting to me…to listen to Nomi Prins discuss how the BRICS gold-backed currency is going to be a historic game-changer for the world, the global financial system, and the gold market CLICK HERE OR ON THE IMAGE BELOW.
***To listen to Alasdair Macleod discuss the coming gold-backed currency and how it will impact the gold and silver markets CLICK HERE OR ON THE IMAGE BELOW.
To listen to this timely interview with Tavi Costa discussing $2,700-$3,000 gold, $50+ silver and mining stocks soaring CLICK HERE OR ON THE IMAGE BELOW.
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