Russia and China are using GOLD to get the better of The Western Powers, namely America and Nato
At the next BRICS conference 24 to 28 August 2023 in South Africa.,as they are slowly loosing out on the battlefield ,probably feel taking away the power from the AmericanDollar of being the world reserve currency will eventually give them the upper hand and make up for their losses so far.
How ever it must be remembered The USA has a huge store of the metal. If they succeed or even partly then we suppose the various currencies would have to be attached to the floating gold price. Then goods and trade would not determine their value but those nations with the most gold.
In any case it would cause a great deal of turmoil in world trade and do remember a rogue nation or traders or a major protagonist might suddenly lower the price OF GOLD to make a huge profit or just for political reasons. This could disadvantage the poorer nations as at that time ,CAUSING SUPPLIERS TO WITHDRAW THEIR SUPPLIES of goods causing hunger worldwide.
For a gold standard to work the majority of nations would have to sign on to the idea. Further there would have to be a floor price to bring stability to the system. The best time to start such a system would be during a time of peace,not when the world is drifting into further chaos.
