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>This entire turn of events — introduction of a new gold-backed currency, rapid adoption as a payment currency and gradual use as a reserve asset currency — wil

>This entire turn of events — introduction of a new gold-backed currency, rapid adoption as a payment currency and gradual use as a reserve asset currency — will begin on Aug. 22, 2023, after years of development. Is this just some goldbug talking out of his ass? I don't see any mention of an official announcement. Edit: a much more grounded version of this "story" can be read here: https://en.wikipedia.org/wiki/BRICS#Potential_common_currency https://en.wikipedia.org/wiki/BRICS#Potential_common_currenc...

RajuVarghese 3y ago
That Wikipedia article makes no mention of the new currency being gold-backed.
- lesuorac 3y ago
  Yeah because the best sourced location of that is an embassy twitter account [1]. BRICS is meeting to discuss the potential of a currency. Even having a common (trade-only) currency isn't 100% going to happen never mind a specific implementation of it. [1]: https://twitter.com/russembkenya/status/1675727818888716288 https://twitter.com/russembkenya/status/1675727818888716288
jareklupinski 3y ago
I could almost _hear_ the author's breathlessness in their first few lines didn't know you could transmit respiration rate over TCP/IP
- red-iron-pine 3y ago
  that'd make for a good April 01 RFC