Various Russian officials have made comments alluding to a greater gold involvement in the monetary system ever since (and in some ways even before) they were kicked out of the SWIFT system in 2022.
Yet while there have been no formal announcements, signs of progress have been emerging. And 2 months ago Matt Riley joined me on the show to talk about ‘the Unit,’ which is a proposal for a payment settlement currency that would include a 40% gold backing.
Today Matt returns to the show and provides an update on how the plan is evolving ahead of the BRICS October meeting, and whether he expects an announcement at that meeting.
We also talk about whether a successful Unit would ultimately force the west to put some sort of collateral behind their own currencies, and whether he expects people to front-run the move if the plan continues to progress and eventually become more public.
While we don’t yet know the ultimate outcome, evidence of the possibility of a potentially landscape-changing transition continues to emerge. And to find out more about it, months before most of the world will ever have any idea, click to watch the video now!
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