Thanks for the excellent questions. 1/ Yes... but they are nowhere near doing so. And the effects on the gold price should be positive, but too many variables to far in the future to talk intelligently about it. 2/ I do believe so. I strongly urge you to listen to our last On the Move webinar from last week Wednesday with Dr. Nomi Prins. We covered this specific question and a whole lot more. 3/ i don't believe they or anyone could simply pull a number out of a hat and have it stick. It would have to be appropriate at the time.
1) Is it the intention of BRICS nations to issue a new gold backed currency? If so, how would this effect the price of gold? 2) Could such a new currency be backed by a basket of precious metals (as opposed to just gold) and/or even include other commodities? 3) If the BRICS nations declared that for their purposed gold will be valued at $20,000 per ounce, would that stick globally?
Thanks for the excellent questions. 1/ Yes... but they are nowhere near doing so. And the effects on the gold price should be positive, but too many variables to far in the future to talk intelligently about it. 2/ I do believe so. I strongly urge you to listen to our last On the Move webinar from last week Wednesday with Dr. Nomi Prins. We covered this specific question and a whole lot more. 3/ i don't believe they or anyone could simply pull a number out of a hat and have it stick. It would have to be appropriate at the time.
1) Is it the intention of BRICS nations to issue a new gold backed currency? If so, how would this effect the price of gold?
2) Could such a new currency be backed by a basket of precious metals (as opposed to just gold) and/or even include other commodities?
3) If the BRICS nations declared that for their purposed gold will be valued at $20,000 per ounce, would that stick globally?