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Josh Sigurdson reports on the confirmation by the Russian government that the BRICS global currency will be gold backed. Here's the problem... It will be cashless for anyone that uses it, but will be backed by gold IOUs. As we've seen historically, there is a lot less gold than there are IOUs and with little to no way to collect, people will be enslaved to a central bank digital currency attached to social and carbon credits with no escape.
The Russian government confirmed what has long been suspected, that the global BRICS currency to replace the US Dollar will be gold backed. This will be explained in further detail at next month's BRICS summit in South Africa.
Many gold bugs are getting excited for price action and adoption, but it's entirely a trap to force even the smartest precious metals people into a cashless hell connected to '15 Minute Cities' and digital IDs. Compliance will be the true currency here.
If people do not prepare, they will be left behind. In July, some of the biggest monetary announcements in history were made by governments and organizations worldwide and most aren't even blinking an eye.
Stay tuned for more from WAM!
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