John Rubino, publisher of his newsletter over at Substack, joins us for wide-ranging discussion on the macroeconomic implications for markets, currencies, countries, central banks, global trading, and the precious metals sector with regards to the recently announced gold-backed currency that is being proposed by the BRICS (Brazil, Russian, India, China, South Africa) countries. More will be unveiled at their upcoming August 22-24th meeting.
We delve into some of the main themes that surface around de-dollarization, the mismanagement of the United States with regards to how it often weaponizes the dollar as the world reserve currency, what it means for central banks role in buying gold, what is means for central banks that have little gold reserves, and what it could mean for a larger global discussion on fiat currencies versus gold-back currencies. As we wrap up, we also bring up the added layer of complexity with regards to how central bank digital currencies could still be a going concern even in a gold standard type of currency.
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