One of the biggest topics in the gold and silver space throughout the summer has been the possibility of the BRICS nations announcing the launch of a gold-backed currency at their meeting this August 22-24.
Jim Rickards was the first to announce that they would, and that was followed by a report from RT that an announcement would be forthcoming. Although in the time since then, there have been statements from India and South Africa that the BRICS are not going to be making a major currency announcement next month.
Yet in today’s show with Andy Schectman of Miles Franklin, Andy talks about whether an announcement at the August meeting is really a make-or-break event in the long term. Because while the launch of a gold-backed currency would be a significant milepost, whether it’s announced in August or not doesn’t change the longer-term trend that’s been developing, of countries making preparations to reduce their dependence on the dollar to conduct international trade.
Andy goes through some of the developments that have led so many nations to lose trust and confidence in the current financial infrastructure, and talks about the growing list of nations and trade groups that are coordinating to change how trade is done.
He also provides an update on the silver premiums and availability, and to find out more about the latest activity in the precious metals markets, click to watch this video now!