"In a significant move that signals a global geopolitical shift, the BRICS nations have announced their plans to introduce a new currency backed by gold, presenting an alternative to the credit-based US dollar. With the decision made a month before the upcoming BRICS summit in Johannesburg, the initiative has attracted the attention of numerous countries eager to join this influential bloc."
"By anchoring their currency with gold, the BRICS nations aim to provide a tangible and stable backing, diverging from the credit-based nature of the US dollar. Gold has long been considered a symbol of wealth and a store of value, and the adoption of a gold-backed currency could potentially enhance trust and confidence in the new financial system.
The decision to introduce a gold-backed currency has far-reaching implications for global financial markets and the balance of power. As more countries express interest in joining the BRICS bloc, the influence of Western powers may face a formidable challenge, as traditional power structures are redefined. The rise of the BRICS nations and their currency initiative demonstrates a growing trend towards multipolarity, where the dominance of a single currency is being questioned."
https://www.financialexpress.com/business/defence-brics-nations-forge-a-path-towards-a-gold-backed-currency-challenging-the-us-dollars-dominance-3168425/