Today King World News interviewed the man who correctly predicted the Russians and BRICs would launch a gold-backed currency. News today confirmed that it will happen in August. While this news shocked people around the globe, it was no surprise to the man who predicted it. And what he had to say about what is coming is even more fascinating.
First, this is part of what he predicted in January:
“Last June…I argued that Glazyev’s initial proposal was impractical, and he should be using a gold backed currency to achieve his objectives. Subsequently, there was some resonance with this view, because in July Glazyev proposed a new Moscow gold exchange, ostensibly to replace Russia’s loss of access to the London market for Russian mined gold and its refiners. His involvement in this project was not just coincidental.
… What Glazyev did not mention in his Vedomosti article, other than his reference to western central banks not necessarily having possession of their gold reserves, would be the consequences for the dollar and other western fiat currencies of gold becoming the trade settlement medium throughout Asia, or of the rouble returning to a gold standard. Inevitably, holders of dollars and financial assets, totalling some $30 trillion, would make comparative value judgements not just for the dollar but also for their exposure to other fiat currencies. Not only would this cause private sector actors engaged in cross-border trade to re-evaluate their exposure to fiat currencies, but the whole system of currency reserves held by central banks could come under threat.” — Alasdair Macleod on King World News January 26, 2023
July 7 (King World News) – Eric King: “Alasdair, it’s so interesting today because I was seeing the US dollar weakness, it just drifted lower and lower all trading day and went out on the low. And there’s this stunning news that the BRICs are about to launch a gold-backed currency. If that’s true it will dethrone the dollar as it gets set up and put into place.”
Alasdair Macleod: “Yeah, this is fascinating, Eric, it really is. I’ve been on top of this story for a long time. I wrote about this [on KWN] way back in January — how [former Minister of Economic Relations] Sergey Glazyev, is a guy that was appointed by Putin to develop a new currency for the Eurasian Economic Union. And at that stage it was said to be based on a mixture of currencies of the member countries and commodities. Now that’s obviously nonsense, complete nonsense. The research that I’ve done has actually confirmed that the best way to do this quite simply is to go back on to a gold standard. And [it resonated with him because] then Glazyev wrote an article about how to set up a new gold standard and why Russia should go on to a new gold standard. He was the man who beefed up the Moscow Gold Exchange. He is the man who is also in charge of…to continue listening to the man who correctly predicted the BRICS would launch a gold-backed currency CLICK HERE OR ON THE IMAGE BELOW.
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