🔴 BRICS GOLD-BACKED CURRENCY: Vivek Points Out Value In Gold Backed Currency, Supports Gold Standard

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[@lenapetrova]

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[@sftita]

Lena, ~20 States are moving legislation thru to accept gold and silver as legal tender. At least 3 US States already accept gold/silver as legal tender: NV, UT, NH Can you cover this?

[@sftita]

The BRICS agreement states that: "If an existing or new member defaults on its loan to a Western bank, individual or IMF, they will NOT be debarred from joining BRICS." -Simon Hunt, Economist based in Dubai This is a GAME CHANGER. How many banks/individuals, pension funds, governments and institutions will be left holding an empty bag when the heavily indebted BRICS nations jump ship and default on their debts to the West?

[@YamadaSena]

Following your chanel extremely hard, my head pain, you are to much inteligent, hard for simple guy who collect bottles in Germany 😊 I only understand that world must stop trading in dollars, that's good.

[@khanalnilambar9354]

Hello Lena! First of all thank you for the wonderful videos. I have watched your videos clips (short videos) on Facebook shorts now I find your You tube channel, really great😊😊😊. I am quite interest to know about the BRICS and international economies and your videos are helping me a lot to understand these things. After all I am also a student and doing homework on BRICS impact to the under developing countries. 😀😀😀 Would you mind if I ask you to make a video about what will be the impact for these developing countries who directly depends upon US grants. After all you have ample knowledge in these sector. It will help me to improve my works as well. Thank you and waiting your next videos! 🙏🙏🙏

[@user-rp8yr7fj2v]

The dollar must be backed by gold and not armed forces.

[@GScully42]

Way to late for that unless we default on the dollar.

[@mftatvop]

@@GScully42looks like that’s the plan

[@mftatvop]

Na zi Germany did that

[@Jocky8807]

​@@mftatvopand they successfully coming out of inflation. And coming into endless wars.... 🙏

[@CitsVariants]

maybe back it with stones?

[@tanbw922]

It may be worth mentioning that the US weaponising the US$ is also a big factor in the loss of faith in the US$. Why would any country want to be to held to ransom by the US?

[@Dennis0824]

This will be further exacerbated if the collective West decides to seize the $300 billion in Russian sovereign assets. All trust will be lost in the West's financial system which is dominated by the US dollar.

[@jayceontalylor4244]

True, they are blackmailing all the countries with resources, they have to pay 70% of their cut to the USA ( for security ) lol

[@dochere-bolelwang]

Not just the weaponizing.. It is also the decades-old cheating of printing worthless paper money 24/7, which is then sold to the poorest of the world as real money.. Also the fact that the US can steal it from you easily at the drop of a hat.. When I was a child 3 British Pounds could buy you a decent pure wool suite. If you added 1 more Pound you could add a Stetson hat as well...

[@yunko9369]

@@benzapp1The ability to impose sanctions on any country. Cuba is the country with the longest sanction imposed by the US

[@MSDGroup-ez6zk]

@@benzapp1 No you are wrong. The problem with the USD is the USA has swift codes where all banks in the world would have a kind of IP address and all transactions will end in the USA banks in the USA like internet with a USA backbone network. Hence the fed can see how much dollar each country on earth needs a day. So if you are in Singapore want to buy toys from Fiji thus you exchange your Singapore dollars to USD in Singapore then your bank in Singapore send it to a USA bank in the USA before it is transfered to Fiji seller bank in the USA and send it back to Fji in Fiji currency, How do I know? When Russia sold oil through non-bank transactions, the USA allies only can track using insurance companies transaction. That's why when Soros attacked Asia, Soros knew what month all targeted Asian countries need USD more than the other 11 months. So was Greek too wen Goldman Sach, a USA bank tried to find profit from it.

[@cherubimcherubim9515]

BRICS currencies is back by gold, oil, minerals etc. Us dollars is back by printing machines.

[@jamesmoy1214]

Don’t forget the 5,000 nuclear missiles with 190+ military bases around the world

[@bobbylow175]

Bro, ink is expensive these days 😂

[@flamingsword412]

​@@jamesmoy1214how about Russian nukes kid 😂....soon doller become toilet paper

[@henryakuchie2053]

​@@jamesmoy1214 Printing machines and photocopiers

[@henryakuchie2053]

​@@jamesmoy1214 The days of war mongering is coming to an end, you won't have the strength required

[@mcotton3077]

BRICS doing something right!

[@CitsVariants]

they still need someone to finance their goverment spending.. and everyone is stagnating btw... you think gold solves anything? Vivek needs to take macroeconomy course.

[@mcotton3077]

⁠@@CitsVariantsI’m glad you mentioned that because I’ve taken Macro, Micro, and International economics courses when I got my degree! This ain’t going to fix everything, THIS IS A STEP IN THE RIGHT DIRECTION! You should take finance courses kid!

[@GlobalMindSync]

@@mcotton3077exactly this is the best step forward

[@pctrashtalk2069]

The BRICS is equivalent to the World Bank.

[@stephenwang9567]

Another Fake illusion to deceive man kind thru politics

[@JALRML1251]

Vivek is exactly right. Until 71 our currency was backed by gold, silver until 64. I saw this several years ago and began buying gold and silver strategically. The BRICS countries are just defending themselves as Lena pointed out. We've shot ourselves in the foot.

[@oldmanodin3521]

Silver here. Agree about Brics too. Trying to figure out fed strategy.

[@patriceesela5000]

Kennedy tried to keep the Dollar tied to silver and issued an executive order accordingly and then a couple of days later he was assassinated/executed

[@tedchandran]

Jai Hinduja. He should know because the Indian origin dude is now a Brahmin neoliberal of the Republican party who eyes other nation gold. On the other hand, we Indians in BRICS are more interested in trading for example, we print Rupees to buy cheap Russian oil and then, sell the surplus oil to Europe or Germany for gold.

[@karlklonowski9366]

​@@tedchandran So what can Russians do/ buy with all the rupees they receive? What does India export?

[@dochere-bolelwang]

Great American.. I love it when we agree. There is not need to belabor the point when the facts are self-evident..

[@johnadams8902]

Gold is the money of kings , silver is the money of gentleman , barter is the money of the poor, and debt is the currency of slaves.

[@livinglifetothefullest22]

👍🏼👍🏼👍🏼👍🏼 Now america knows it place...!! Just as all world leading countries they too will dive into centuries or hundreds of years of poverty!! Look at all the once mighty powers: Greek.... Romans (Italy).... Egypt.... Persia.... Mayas.... America and it's allies: the near future THIRD WORLD! Tables are turning!!!

[@Orestes416]

👍👍👍

[@Orestes416]

👍👍👍

[@Orestes416]

👍👍👍

[@Orestes416]

👍👍👍

[@slidingdoor9055]

I'm 63, working paying taxes, lied to, etc. since 1977. I've never known a fair and just monetary system.

[@jamesmoy1214]

That’s because capitalism and equality (fairness, altruism, etc.)does not go hand in hand. It’s a dog eat dog pyramid run by Mafiosi style rules.

[@ronjhorton]

If your 63...you have been lied to since 1961...just like me🤫

[@livinglifetothefullest22]

Interesting to dive into is how money once started.

[@jamesmoy1214]

@@livinglifetothefullest22 coin money started way back in the Middle East. Sumeria!

[@macnab8857]

Its disgusting that our tax money is given to other countries and to buy weapons to make occupied people unalive, and to pay corrupt politicians.

[@domatthew1666]

Thank you and finally. Logical and even tempered views and reasons about BRICS objectives on selecting alternative trading currencies besides the US dollar. It's not about bringing the US dollar down. BRICS is about preventing their own currencies and countries from being brought down by American debts and sanctions. In a nutshell, self preservation.

[@Longcloud]

Well explained 👏

[@jamesmoy1214]

Yes, self protection like the Euro tried to do but was unable to fight the dollar once Nixon pegged it to oil with the Petro-dollar arrangement with Saudi Arabia

[@fullcircle4723]

And self-determination.

[@domatthew1666]

One other thing to note is that China still has a boat load of US T bills under it's belt even though it has sold a big bite already. It doesn't want to see USA fall and their money disintegrate overnight.

[@livinglifetothefullest22]

But most of all: ●America thinking they can intervent anytime and everywhere in the world as THEY please! ●Stealing money from other countries when not listening to Big Bully! ●Excluding countries!! (From G7 for whatever reason america likes) SO THESE COUNTRIES JOINED TOGETHER!😊😊😊 Now bringing the Big Bully on it's knees😊😊😊 The 'unsinckeble Titanic' is going down into cold dark debts😊 This is called: K A R M A Or as Trump was screaming: "AMERICA FIRST" 😂😂😂😂😂😂😂😂😂😂😂😂😂

[@user-wz7fo7bt2o]

Ms. Petrova: You consistently provide information and value one can not find in "traditional" finance channels. Thanks. I think the BRICS will be a major challenge to the U.S. Dollar in the coming years

[@JDHart]

Oh, I suppose the US will back its currency with windmills. Vivek is so brilliant, he’s over the heads of average Americans. Thank you for excellent reporting Lena.

[@johnadams8902]

Good one👍

[@Leila-sd1sl]

Americans doesn’t elected smart politicians, politician’s doesn’t like a smart mass.

[@audioupgrades7759]

He's over the heads of the MAGA group and their master.

[@jeffreymorris11]

Vivek is somewhat short of expressing the reality. It is the US Exchange Stabilization Fund that is the facility that supports the reserve status.

[@rap3208]

He did say commodities, the US doesn't have any commodities? What he said is is a start of addressing the problem of the dollar losing faith/trust from other countries. What administrations right now is just kicking the can down the road, ignoring the problem and just keep passing it to the next administrations. There'll come a time when they couldn't pass it anymore and by then the problem will be unsolvable.

[@matthewholbrook1265]

The Federal Reserve is a private manufacturer of United States currency, not a branch of government

[@mattsenica5227]

They are the government, you think the puppet on the stage runs the world….? Think again, it’s central banks that run the world and the fed is the biggest and baddest. How do you think the WEF gets their power? When we got off the gold standard the WEF was created. They are an unelected group of people that govern over all central banks and are the central planners

[@godspeedfreeman1191]

Great reply from Vivek

[@felixbruette4793]

The US must invest and without military intervention, to establish equal commerce within the total Americas! 😊

[@randywhelchel4674]

Only the USA matters, maybe a win win can be found but if not? We win they lose

[@livinglifetothefullest22]

Too late!😂😂

[@giorgiocooper9023]

And with the Russians and with the Chinese and with the Indians….

[@araara4746]

It is impossible to back up USD with anything, because that would kill the US's ability to print money at will.

[@kevinpetersen4043]

Excellent comment

[@ashton1952]

@arara Bingo

[@Anthony-dj4nd]

This is quite the interview! This channel must be blowing up!

[@stanspb763]

That is the best explanation of the BRICS currency so far that I have heard. Vivick is too intelligent for US politics, and if the Rs when they would be stupid to pass him over a VP or other high position. I live in Russia but am an American citizen but we have way to vote from Russia. Lena, you and your channel are addicting in a very good way.

[@oldmanodin3521]

Yes, is addicting. I like how her mind works. So many can talk for 10 minutes and not say damn thing.

[@livinglifetothefullest22]

GOOD CHOICE!! Choosing to live in a WINNING country🏆🏆🏆🏆

[@telldor4720]

Other countries are smart enough to observe our reckless financial behavior and want to distance themselves from a bad situation. There are the Brics & the Brokes.

[@Bangkokrover]

If the US starts to back its dollar with gold when they already have an exponentially growing 34 trillion debt, how will they pay the interest without the ability to print dollars exponentially?

[@ganeshkumar-gt9wx]

Good Question

[@oldmanodin3521]

Good point

[@diegomorata2885]

​​@@CitsVariantsonly make things worse because you won't be able to print exponentially 😂. The world will adjust to bricks currency. Fiat currency will always lead to destruction for the poor. Fiat currency is debt base currency

[@CitsVariants]

that's cap. They buy gold because they are bearish fiat money or gov debt default. It doesnt mean gold backed currency. Gold backed currency is bad for growth. Central bank still has to buy and release "money" (backed by gold) to balance the price. Back to the stone ages!

[@CitsVariants]

gold backed currency doesnt make economy better lol. Economies been stagnating... unless you erase everyones debt and we can start off fresh. During wars - debt tends to rocket... btw.

[@kfcheah5697]

Brics currency will only be used for trade settlement among the Brics members. The US can forget trading their "toilet paper" for the Brics currency.

[@richardleenders8243]

Exactly you hit the nail on the head 😊 the US currency is a federal reserve note not money the world is being ripped off

[@raymundogonzalez6450]

👌👌

[@MuscleJoy]

Not toilet paper hello 👋

[@samuellopesbaule5745]

😂😂😂😂😂😂😂😂

[@samuellopesbaule5745]

​@@MuscleJoyof course it's! In few years your dollar will have no value at all!

[@user-uk5cg1cl6h]

Bless you for your truthful and reality based commentary. BRICS is not a competitor to US-led financial systems but rather an alternative that is more amenable for developing countries who value their sovereignty and political independence.

[@thinkingtoomuch7974]

Remember VHS vs Beta? Cassette vs 8-Track? Blueray vs DVD? Started off as alternatives to the other, but it gets messy in the end so only one of those will survive. Right now, which one looks messier than the other - US$ or BRICS currency?

[@barryshaw5660]

Lena your videos have become a must watch for me. I appreciate all your efforts to help me stay grounded in reality.

[@wingkeeho5864]

Hegemony and robber of the world pretended to the policeman of the world.

[@derikuk2967]

And he was left in charge of the world's gold vaults and piggy banks. So much for trust in the hegemonic thug.

[@Texas_Uncut]

Can you imagine Texas applying for BRICS 😅?

[@pctrashtalk2069]

Several States are already creating Bullion Banks and writing laws that allow for payments including taxes in precious metals.

[@calvinteoh9111]

One of the main issue with US Dollar is its ability to be as a weapon against anyone that opposes to US and this occurs too many times and countries around the world are looking for an alternative. Even if US Dollar is pegged with another commodities, one of the main issue is still not resolved.

[@livinglifetothefullest22]

Once a THIEF.... (and america has stolen many many many times!!!) NO ONE WILL EVER TRUST YOU AGAIN!! NEVER!!

[@Starwarrior9831]

You can back USD with gold etc ... At the end of the day, the USD suffers from a huge defect. It can be easily stolen. Who wants their money to be stolen ? Vivek is certainly good in talking like Sunak.

[@WTHH2]

looking forward to better gold valuation and not rigged.

[@marcusnelson1094]

Good evening Lena, thank you as always for sharing this information with us. It’s always appreciated keeping us updated and informed.

[@lesterchua2677]

A gold backed currency means nothing if they keep printing beyond the amount of gold they have. It’ll only make gold cheap until the day of reckoning comes again. If they can blatantly lie to you about things like Inflation and GDP, they can lie about how much gold they have or how little they have printed.

[@livinglifetothefullest22]

😂😂😂😂😂😂😂😂😂😂😂😂

[@richardleenders8243]

Good point ☝️ made 😀 the market is rigged

[@7thNoteOfficial]

Only to an extent without the gold its like monopoly print at will

[@americanknow8232]

But, the Fed does not have gold. They have spent it all. They refused for Germany to inspect their gold, and they refused every nation to repatriate gold. They do not have gold. They refuse audit. What do you think?

[@reefread1234]

Coffers are empty hence all the desperate censorship and inquisition 2.0 tactics. Lol

[@bobbylow175]

Fake it till you make it

[@mattsenica5227]

No one has any idea of what the fed has… they fund everything including terrorism, both sides of war, Obama flew pallets of gold and cash to Iran, etc… it’s impossible not to think that an entity that literally prints money hasn’t bought physical gold with the printed money that no one knows about, especially when central banks around the world are all buying gold. They could add digits to a screen send it to XYZ corp and have them buy whatever they want as an example. To think the most powerful institution in the world doesn’t have a back up plan or many is absurd, they run the world. This brics crap is a bunch of nonsense compared to the power of the fed.

[@bitter_truth8646]

​@@mattsenica5227 stay with your dollars and we will keep our gold. Euroasia 💪

[@thinkingtoomuch7974]

But it's got one helluva money printing machine

[@jean-marcducommun8185]

For the US and the Dollar the train has left the station long ago. The US was forced to abolish convertibility back in time because it feared the the French would empty their reserves. If it was already a problem back in time it must have become the mother of mission impossible today.

[@mattsenica5227]

The French sent their ship to pick up the rest of their gold that we held before we got off the gold standard

[@gUVUsKgUVUsK]

If central banks are buying, who is selling? When last has USA gold reserves (and Fed') been audited?

[@biden-putin-stalin]

Lena, you are fantastic. Keep it coming. The problem with our currency is our Federal government and its desire, and fulfillment of, spending money that they don't have to spend. That desire is fulfilled by the banks buying the debt that is issued by the government. But wait: That's because it is such a great investment, so of course the banks want to buy the debt! Wrong! The banks are forced to buy the debt and it is not a safe investment. If it were, then the brics countries would not consider a new world currency. SVB bank bought government debt, and then were forced into bankruptcy because they lost so much money on that investment. Other countries around the world that have bought US debt have suffered the same fate. The dollar is in real trouble. Our own federal government has, and continues, to destroy the currency, by spending money they don't have to spend. Of course, that is why Nixon took us off of the gold standard. The government wanted to spend more money than they had to spend. A gold standard may help, but if governments want to go around it, they always can, and in the past, they always have. They always find a reason, be it good or bad.

[@shiningstar6659]

Commodities are going to be the single most important thing going forward with regards to monetary structures around the world. Thank you for sharing my beautiful friend. ❤❤❤

[@victorfontaine4943]

That’s because “The Old People” are so stuck on the old system and all their wealth is in dollars they don’t know what the hell to do.

[@derikuk2967]

This "Old People" is completely behind Bitcoin. The old system will die - as it must; he sooner the better for all. Stack your sats and HODL.

[@DaveEPie]

Most old Americans have no idea of the BRICS. The watch the evening news and are afraid to even talk about it

[@fredrikbergquist5734]

Vivek is a smart guy, to smart to be the US president!😂 Joke aside, the US would consider as a threat anything that is better even if that doesn’t have as goal to replace the dollar in the west. I am curious about which other commodities that could back the currency except gold? China had silver backed currency in the 1930ies.

[@stanspb763]

Commodities suggested include earths, diamonds(industrial diamonds essential for some metal processing) uranium, silver, and anything that is rare and essential for some industries

[@oldmanodin3521]

He did answer that well. Interesting how fed responds

[@CitsVariants]

they still need someone to finance their goverment spending.. and everyone is stagnating btw... you think gold solves anything? Vivek needs to take macroeconomy course.

[@jamesmoy1214]

@@stanspb763how is the US going to buy these commodities if the dollar is losing value as we print more everyday. 34 Trillion in debt and counting! I guess we could invade and take while we still have the firepower 😂

[@jamesmoy1214]

@@CitsVariantshe just reads enough to memorize it and repeats the same word salad over and over again. Understands just enough to be dangerous!

[@Pete_FamilyLapkinLifeFan]

Vivek is 100% correct... And we in America ignore him at our peril...hopefully he will convince Trump to peg the dollar to gold, silver and other commodities.

[@CitsVariants]

he is biased. so is Lena

[@karensmith3227]

Ok, you have an answer...lets hear it. Explain bias in this situation.

[@jamesmoy1214]

@@CitsVariantsI can understand Vivek is biased but please explain your distrust in Lena if you will!

[@fanofc-adecoulomb8477]

"It is not power that corrupts but fear. Fear of losing power corrupts those who wield it and fear of the scourge of power corrupts those who are subject to it." Aung San Suu Kyi

[@jamesmoy1214]

The CIA funded her to power and then sacked her now too! Must of been referring to the CIA

[@amundammarline162]

❤ BRICs ,Bravo ! Bravo ! Bravo! The almighty God knows why.❤

[@homerflesher7426]

Spot on girl 👍

[@000T00b]

Absolutely agree with you Lena. BRICS is an alternative to trade with the west, it may or may not have a single currency in the years to come. BRICS is not trying to "destroy" the dollar, it will continue to trade with the west. The BRICS bloc is a way of de-risking trade for the global south which has been the subject of countless economic sanctions and other means of pressuring and bending sovereign countries to the will and agenda of the west, particularly in factor of US interests. In other words, diversification and de-risking so that it doesn’t have all eggs in the (western) basket.

[@Dennis0824]

BRICS is not trying to destroy the dollar but instead AVOIDING the dollar. The indirect consequence of this policy will weaken the dollar, make it more difficult for the Treasury to issue more debt, which will raise interest rates significantly, and hopefully, force the government to live within its means. That would be a good thing.

[@ronwinkles2601]

Miss Petrova, thanks for asking this important question about backing the US Dollar with hard commodities. The future of FIAT currencies is ending. To counter BRICS, it is essential for the US to join forces with our closest neighbors and biggest trading partners, Canada and Mexico. This will make the entire North American Continent the strongest possible counter market to BRICS nations. North America will have the best , cheapest and most deliverable market for the most desired commodities of agriculture, energy, technology and transportation. BRICS nations will buy our commodities, and we can demand gold, silver or any hard commodity we desire and thereby greatly strengthen the US dollar.

[@jamesmoy1214]

I don’t think Mexico or Canada or many other countries will trust any system the US can deviously devise after seeing the way we’ve destroyed other nations for their resources from past experiences with stealing others (land, oil, lithium, sugar, bananas, and differences in political systems) We could still force them with comply with military power though 😂

[@bobbylow175]

Except the US never views any other country as equal but rather serfs. It won’t serve South America any good dealing with US which is not the least interested in developing the South American countries. US is only interested in regime changes, blockading others eg Cuba and Venezuela which do not bend at the knee for them.

[@thomasmartin3343]

The petro-dollar has played he role of being money backed by commodity. (The world's oil reserve) Nobody will accept this but when the world was compelled to do business in petro-dollars to buy oil that was what held the dollar up. With a high percentage of the world buying and selling oil in other currencies, the dollar is becoming irrelevant.

[@Starwarrior9831]

With NOPEC bills tabled in the Congress, it is without doubt USD reserves of OPEC countries might be confiscated in the future, considering US can't repay its debts.

[@steveedwards2143]

Gold and Silver are the best commodities to back currency because they are both real money.

[@derikuk2967]

The U$D is "real" money. Any ledger of currency is real money, *provided the users believe in it.* Sadly, the faith in the U$D and its derived fiat "children" has fallen off a cliff, and will never recover. Metals come with a whole host of problems. (Gold was made obsolete by the telegraph in the 19th century already.) Bitcoin - if you'd be bothered to understand it - is the obvious solution. It is an evolutionary (without the 'r') development in the human - even post human - existence. Embrace it. Sooner is better.

[@MSM-lies]

Always value your videos Lena. Could you do one to explain the mechanics of how cbdc and other forms of digital currency will erode the dollar's value? 🙏🙏

[@Charlene.888]

Outstanding video, Lena! I’ve been watching videos about BRICS for a very long time. Yours was concise.

[@tomc642]

Don’t know much about economics, but the value of money should be based on something real and tangible. It doesn’t make sense that the US has the strongest economy and a weak currency. Should people work harder for less money?

[@jamesmoy1214]

That’s one way of increasing GDP. We’ll take one for the Gipper! 😂

[@vesnaminor8244]

Thank you so much Lena for keeping us informed ❤️🇨🇦🙏👏🙌

[@frankdavidson644]

Thanks again ❤Great information ❤

[@rolandbraun1197]

According to the Fed , the USA holds more than 8000 tons of gold in its reserves whether it still does or more probably leased some of it out. That's higher than all other countries !! Secondly, there are 65 trillion dollars of loans that are denominated in US dollars and that should keep the currency reserve status of the US dollar unless a large devaluation occurs as a result of a triggered financial cliff facing a debt overloaded US economy.

[@jackchiu7560]

The U.S. dollar will still reign supreme at least in the next 10 years as it still accounts for 60% of all transactions worldwide. The BRICS currency, currently under discussions, would get a big dose of stimulus when it will be backed by the gold standard. The Chinese Yuan, however, is still under strict regulations to prevent Western manipulation and is therefore not yet freely convertible on the open market. This is where the gold standard for the BRICS currency comes in handy. It allows all countries to trade in their own currencies or in the currency of their choice; any excesses in any particular currencies in their foreign exchange reserves can be exchanged for gold at the agreed rates so that each country can maintain the value of its national currency without much distortions that exaggerate their balance of payments. And with gold, they can purchase the U.S. dollar, the Euro or the Yen to buy whatever their countries need from any particular nations around the globe.

[@JT-bg7kz]

I think a question that gets lost in the shuffle is, will these currencies and CBDCs - if they are pegged in gold - be convertible, or is it just gold-backed in name only? I believe Zimbabwe has been trialing a gold-back CBDC, but from what I understand there was no mention of convertibility.

[@garyhambat4135]

I think it should be gold back plus swap facility. Being digital is just an optional, practical tool.

[@luxboss2388]

One thing about Vivek he actually talking about what’s really going on it’s just a lot of people don’t know it’s actually coming lol

[@user-ky4rz2sn8v]

It all makes sense Lena, and I think it will be better for everyone in the log run. Compaction is good for everyone. Jon🇦🇺

[@ricardoavilapaulette7060]

Very well stated. The problem as I see it is one of a stable unit of account; and one to which to refer to, so as to being able to establish the value of local currencies of many trading partners; and as the flow of trade goes, to settle disputes. Not an easy task; the dollar was, perhaps, a confortable solution to the problem, but not any more, and it is causing more problems than it solves. It would fill a vacuum; resulting of the distrust in the dollar in the current (I´d say turbulent) situation. Not a conspiration or attempt to destroy anything, but a possible, and feasible, solution of an urgent need. Something like the reaccommodation of tectonic plates or other natural phenomena. Thanks, as always, for today's programme. Good evening.

[@JD-yz4kr]

Vivek has common sense, practical and realistic policy pronouncements that appeals to the voter's intelligence which explains why he lost to Nikki Haley.

[@daniellelee4920]

Vivek will sell America to India🐍

[@TheGodDegree-TrurthisIslam]

Good work, thanks.

[@knaraya936]

Vivek is correct of course. The Government of 2024 must take actions to offer a competitive alternative to the BRICS strategy. This is already happening in a limited way. By 2024, these trends will accelerate. Other countries will start to rebel against US Dollar as the world reserve currency in a much larger scale starting in 2024. Vivek is saying the America should make the US dollar a competitive choice in this new scenario. This is good for WE THE PEOPLE.

[@user-ss8qu8fl2m]

good story Lena keep posting about it. It will help everyone.

[@saddle8bag]

The idea should be to use gold as collateral and to use it to settle trade imbalances. A basket is a bad idea. We don't want to barter. We want a neutral asset in which all other things can be priced. Using gold to settle trade imbalances alone would prevent govt overspending. It would assure that our exports at least match our imports at the risk of depleting the country's gold. Our productive sector would necessarily have to grow, thereby diminshing the size of govt and welfare recipients. Trading equitably with the world would also decrease our need to have military bases everywhere on the planet. There's less need to fight when everyone is playing fair.

[@jamesmoy1214]

Now convince the CIA to go along with this plan as well as the corporate state and the Oligarchs to relinquish their hoards of money

[@YouReadMyName]

Keynes's Bancor was a brilliant idea. It was vetoed by the USA, which caused the Soviet Union to walk out of the Bretton Woods Conference, starting the Cold War. Russia is just finishing what the Soviet Union inherited when it walked out of that meeting, which is Keynes' legacy of a fair and just international trading system.

[@muhdkamilmohdbaki7054]

In order to maintain the stronghold of US Dollar as the world currency of trade among others, it should be backed by strong commodities and I think one of the commodities that is in surplus in the US is the firearms, so it is best if the US Dollar is backed by firearms🤭😅.

[@jamesmoy1214]

Depleted uranium bullets for every person on Earth to purchase. 😂

[@olderchin1558]

The BRICS currency concept is not about a new BRICS currency but a BRICS exchange based on gold as a reference. Today the USD is the reference currency unit. Commodities are not a good reference unit, they are so volatile and dependent itself on natural factors like weather. You don't need to have gold in your vault to trade in the BRICS exchange but you can save your surplus in gold and probably in the future gold allotment units like the gold exchange. Loans and bonds can be issued in gold units.

[@michaelthompson1379]

Thank you!

[@ongyenher548]

Good update thanks 👍

[@hermes6296]

There is one more aspect which is somehow missed in all these debates - pricing power transfer from the "West" (COMEX, LBMA etc) - to BRICKS own institutions.

[@lenapetrova]

Thank you for adding this very important aspect!

[@mattsenica5227]

Brics is not doing anything this whole story is nonsense, no country is coming out with a gold backed currency, it doesn’t work and hasn’t ever worked, it always ends the same. All governments are not going to give up their power to print, who is everyone fooling here!?! This is just bs. Every government is coming out with either a tokenized system or a cbdc, if you think they are goin g to chance losing their reserves your dead wrong and videos like this are so misleading to the public. Just use your brain and think

[@roberttoynton9781]

Sadly there wouldn’t be enough available gold in the world for America to top up its levels and cover its never ending debt…

[@ronjhorton]

There is plenty of gold out of the ground and in the ground...it will just take real Energy to get it and stack it. Gold has other physical properties above and beyond the "Storage of Real Money". Cheers 🍻

[@jennyohara4011]

Another great video, thanks Lena

[@july9566]

I think Brice will be good for all . The USA needs some competition , bobbing people for compliance ain’t working anymore . Plus china’s is heavily investing in Laguna America and America doesn’t like that well what did they expect ?

[@MrPetarII]

I don't think that anyone knows the real status of ANYTHING...Americans have been lied to for looong time, decades. It's like when you buy an old house, much easier to knock it down and start from scratch, than repair it. Hi Lena!

[@SpiderF27]

Good info Lena.

[@fcatandi]

Congrats!

[@pkwong1940]

When ypu are deeply in debt you are deeply in trouble! Civet understands the problem but offered no alternative. The issue is how do you get out of debt! Vivek did not even try to answer because he has no answer.

[@jamesmoy1214]

Do you think he understood what he spoke? He can only remember words he can recite! Word salad with no dressing 😂

[@Dennis0824]

It is already self evident that the debt can never be repaid. There are only two options; first, inflate the debt away which would destroy the economy and the dollar, or restructure the debt, meaning that a significant portion of the debt would have to be written off so that what remains is manageable. Iceland took this option during the financial crisis in 2008. The people voted and refused to pay 50 billion euro in debt that the previous government had incurred. The debt was seven times their annual GDP. The consequence of that decision froze Iceland out of the international capital markets for the next 10 years. Now, Iceland is one of the most stable economies in Europe with a healthy economy and balance sheet. During that 10 year period, Iceland was forced to live within its means unable to incur any debt.

[@shumaizharis1619]

For sure any currency must be backed by gold and silver else it will again lead to unfair acquisition of wealth and technological advancement however countries that have less should be allowed to trade with their natural resources eg mining, produce from agriculture, labour etc..

[@mauriceldisgreecanadahaspr9560]

YES YES LENA PETROVA KEEP US UPDATED BRICKS NATIONS 😮😮😮😮DEVELOPMENT VERY EDUCATED 😮😮

[@gaugeray7462]

It's a basket of Commodities the bricks will use to back currency. Not necessarily gold. Silver, oil, wheat, uranium. What resources do you produce?

[@rabuanmantine8522]

For the rest of the world BRICS is an escape route to continued harassment

[@user-bu9el9xm6w]

Thanks 👍

[@Dennis0824]

It is my understanding that the BRICS plan is to have all member countries use their own currencies for domestic transactions and a new BRICS unit of currency for the settlement of international transactions among the member countries. It seems they have carefully studied the shortcomings of the Euro and they are taking their time to avoid making the same mistakes. As you pointed out, the BRICS currency will be commodity based and will be weighted by the commodity resources of each member country. I believe that BRICS will only accept members that are commodity rich in order to more smoothly bring the BRICS currency to fruition.

[@jbga.6178]

Paper debt notes and electronic data are only 'representations' of actual, real tangible, physical money, which are best measured as money by weight and purity, dollar price is irrelevant due to long running monetary debasement.

[@robertnickson8781]

We should never came off the Gold Standard

[@vinrod34]

Fair tax now, abolished the IRS, UN and Fed now. Repeal the 16th and 17th amendments now. Two terms (12) and out for congress now. Back on Gold standard, Nixon in 1971 should have never taken us off the gold standard. Get informed on the Fair tax now. Great Video.

[@shayhoulihan4391]

Shay checking in from dublin Ireland ❤❤❤

[@RP-mm9ie]

Thanks 😮

[@placeofvalue]

Glad you used the word "May ".

[@tgurlamber5874]

I hold silver and gold in shoeboxes and have a bullion account. I AM MY OWN BANK. I use fiat to pay my bills and expenses and any disposable fiat becomes gold or silver. I'm comfortable. Do the same.

[@dannyboy8850]

The more money U.S. prints the more gold you will need. There is not enough gold in the US to back the dollar.

[@miketerry6036]

Yes there is. It would just mean that instead of gold being priced at $2000 an ounce gold would be about $90,000 an ounce.

[@thinkingtoomuch7974]

Does "living within your means" mean anything to Americans?

[@barry1fitzgerald]

Vivek is right, ignoring that will have consequences.

[@georgeboyd6580]

I am glad that you keep reporting on the long term financial issues of the United States. I am surprised to hear Vivek flounder trying to find a way to make the Federal Reserve work in the long term.

[@michaelloong964]

The world financial system using the US dollar is because every country has trust in the US government and the value of its dollar currency. Now this trust is gradually eroding because the US government is using its currency as a political tool to threaten some countries with whom the US is not happy. Secondly the US government huge debt of 34trillion and rising each year does not bore well with trust of the dollar value. Hence the world is forced to seek another financial system to replace the dollar. The US government is too proud to feel the threat of de-dollorisation. as every country exporting to the US must settle in US dollar.

[@philipreaves2133]

let’s do it!!!

[@cylnow7711]

Lena you posed an interesting question that I will research further, but my initial response is yes, I would like the US government to aggressively start purchasing gold to assist us in a long term strategy as our present fiat system is imploding, however it will have limited short term impact as our banks, real estate, other sectors are not stable, and in the current state of the US economy we will be purchasing gold with a fake or highly devalued currency. We have major problems within our financial markets that require our attention, however due to present priorities of our government these economic challenges are not being addressed, and it seems only a “serious depression” will force the government to address the economic challenges the US is currently facing.

[@marcgraham6438]

Yes, I believe they will develop a blockchain physical gold backed currency for damn sure.

[@virgiliod.9436]

The real question is why are some countries suppressing gold? Because they have too much debt. They can't afford gold even if they want to. Besides it is an admission of failure on their part which will never happen.

[@virgiliod.9436]

Buy your own gold don't depend on your government.

[@virgiliod.9436]

Throughout history economies rise and fall which makes countries rise and fall too. Gold can restore faith in the store and exchange of wealth. Rome made a mistake by not standardizing gold. They made gold value too high which resulted in too many wars and gold clipping theft by ordinary citizens. If you make the value too low people will not have enough purchasing power or they may be disadvantaged by govs/countries that price gold right. Do yourself a favor, if your going to back a currency by gold, back it 100%. It will ensure equity and commerce and prosperity into perpetuity.

[@virgiliod.9436]

I suggest the whole world slowly back their currency now with gold to avoid more trade wars and wars in the future.

[@thisisyourtransmission]

Right now, the dollar is backed by oil, the Petrol Dollar. However, if Saudi stops accepting dollars for oil only, then America will have problems.

[@katesisco]

The US went from gold to paper and immediately mortgages went from 20 years, which the rest of the world still uses, to 30!! The banks went to 30 year mortgages when the US no longer had a gold standard!! How was this allowed? A 50% increase in pay back time effectively meant the homeowners would NEVER pay out!!. That meant the banks would never have to lose their indebted property. WAS this scheme to placate the banks over losing the gold standard and having to accept paper money???

[@jamesmoy1214]

This will blow your mind! A 40 year’s mortgage is now available as well as an interest only loan!

[@Coach-AB]

Hi Lena, the unit of measure to what? if the world is gold then it has to be gold. Which begs the question HOW much gold does the USA have?

[@victorchew151]

Countries should peg their currency in 1. Gold 2. Silver,3. Copper,4. Iron, 5. Other commodities that your country produced. Just like the olden days when barter trade was the way.

[@jamesmoy1214]

Barter is illegal! Yes, illegal! I’m not kidding

[@mitchgingras3899]

I didn't hear anything regarding Washington's habit of using its currency as an economic weapon.

[@thehungergames8918]

Buy physical silver 🥈 and gold 🏅🙋🏻‍♀️🧙🏼‍♂️

[@richarderwin2369]

The #1 commodity asset in the United States is manufacturing. Our GDP in 1973 came from about 53% in Manufacturing. Today it's less than 13%. Until this changes, our commodity strength along with the reserve currency status will fade.

[@user-nn1ws3vz9k]

I. Love her English pronunciation