Russia’s New Gold Market

Russia’s new gold market proposal would create an international trading market that competes with the LBMA and could impact the price of gold, the currencies it’s denominated in, and the ability of bad actors to pull off coordinated manipulation. 

What’s the story with the BRICS reserve currency and the proposed Moscow World Standard (MWS)?

Russia’s New Gold Market

Russia's New Gold Market - Ugandan gold discovery

Anything is possible but a new currency brought out by the Brics would be no different than any of the other fiat currencies in existence UNLESS it is specifically convertible to something specific like Gold where you can go to a window of one of those nations and get fold for their currency and i suspect that will never be the case.
In addition, Russia and China are basket cases economically, Russia is tiny on the world stage and China has major economic problems right now. Furthermore Brazil is not in the best shape nor is India to be a part of creating some new currency. I have no idea about anything about South Africa so i cannot comment. Long story short, any currency that these 5 specifically came up with that was backed by Gold or something would be a setup for a run on that commodity that is “backing” it. If it’s not convertible then it’s just another fiat currency regardless of whether it’s a basket or not.
As far as the LBMA or COMEX goes and a new competitor, sure bring it on, more competition is always good although i would point out that the LBMA is already owned by the Chinese.
The problem isn’t necessarily the LBMA or the COMEX per se, it’s the lack of a limit on the paper futures market. Without the futures market having limits then there is no way for Gold or Silver or any commodity to not be manipulated as we have clearly seen for many years in Silver but also in Gold as they suppress the value of the true money (not a conspiracy theory, it’s blatantly obvious as well as showing court cases on spoofing along with the paper trading problems) so that fiat keeps it’s “value”. To be honest it doesn’t matter at all because fiat is a confidence game and as we see in today’s world, people are flocking to what they have confidence in (the US Dollar), but eventually that too will fade and people will lose confidence and regardless of what’s on the horizon…Gold/Silver and the rest of the precious metals should again reflect their true value.
Personally i think they will use a CBDC somewhere down the road for some type of reset, not sure if that will be before or after a debt jubilee but who knows. Just make sure you are prepared for the tough times with some real money or some other commodity you can use to retain wealth. Hold onto the stronger fiats until whatever happens happens. It will be a rough ride but there is another side and when we get on that other side of it, you want to have been able to retain your wealth. The Dollar is strong right now, so if you have it, put it to use in buying more of the true money assets while you can.

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