BRICS Proposes Cryptocurrency “The Unit” as Alternative to the Dollar By Peter Reagan for Birch Gold Group
BRICS announces details of new global currency.
Editors Note – For those wondering why this is published in “End Times” category it’s very simple. The collapse of the Federal Reserve Note – called a US dollar – would end our lifestyle over night. /End
A new major currency will be hitting the world stage soon as BRICS – being the economic block of Brazil, Russia, India, China, South Africa, and a growing number of non-western nations – is coming closer to officially launching its collective tender. Details of the currency, which will be called The Unit, were announced during the St. Petersburg International Economic Forum in June.
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The Unit will incorporate the economic value of the currencies of BRICS member states while also deriving 40% of its value from gold, according to Jim Rickards of Insider Intel. Rather than being pegged to a fixed value of gold, the Unit will be based on a weight of gold, meaning that as the price of gold increases or decreases, the Unit will be affected accordingly.
As Rickards said to attendees during the Rule Symposium last year, basing the currency on gold in any measure is a surefire way to gradually assert the dominance of the Unit. “(The BRICS) win by doing nothing. They just do nothing. They let the dollar destroy itself, (and) they let the dollar price of gold go up.”
Apart from being backed by gold, the Unit will purportedly be a blockchain-based currency, as noted by Kremlin aide Yury Ushakov in March 2024. “We believe that creating an independent BRICS payment system is an important goal for the future, which would be based on state-of-the-art tools such as digital technologies and blockchain. The main thing is to make sure it is convenient for governments, common people and businesses, as well as cost-effective and free of politics,” Ushakov said.
The so-named BRICS Bridge multisided payment platform would connect the financial systems of member states and enable rapid transactions between central banks on a digital network. Importantly, once functional, it would serve as a means of sidestepping SWIFT and sanctions imposed by western governments.
