As BRICS Embraces Gold, Should the US Consider a Gold-Backed Dollar?
Adopting a gold-backed dollar isn’t just about returning to traditional monetary practices; it’s about adapting to the world becoming increasingly multipolar.
Adopting a gold-backed dollar isn’t just about returning to traditional monetary practices; it’s about adapting to the world becoming increasingly multipolar.
By floating ideas of territorial acquisition, Trump highlights the United States’ desire for reliable, domestic-adjacent sources of minerals that underpin everything from electric vehicle batteries to advanced military hardware.
Florida’s exploration of gold and silver as currency aligns with a return to sound money principles.
In 2024, China alone offloaded $53.3 billion worth of US Treasury bonds while accumulating substantial amounts of gold.
Various developments in emerging finance are implementing gold-back digital currencies and tokens.
Speaking at a BRICS meeting, Russian Foreign Minister Victor Lavrov told attendees that BRICS is prioritizing the creation of a platform that will enable member states to conduct cross-border transactions in national currencies.
Earlier this week the Federal Reserve released a report that showed at least 37.5% of foreign central banks are moving away from the dollar as their main reserve currency in favor of gold.
Economist and a member of the Economic Advisory Council to the Prime Minister of India, Sanjeev Sanyal, said on Friday that India will now hold most of its gold in its vaults. Citing the decline in confidence in dollar assets among central banks as one of the prime reasons
To help battle the latest round of inflation, the Central Bankers and politicians are turning to the oldest form of money known to civilization. This week, Zimbabwe launched a new “structured currency” backed in part by gold.
Prior to the Great Depression, gold coins were the normal and natural form of money and in common circulation throughout the world.
Gold coins can bring unique diversity to an existing investment portfolio, while expanding on an interest in numismatics or history. Beyond potential financial gains, the process of collecting, studying, and preserving historical coins can morph into a numismatic hobby.