RE:BRICS currencyRet. Geo,
I have been following this development every step of the way.
August 22nd is the scheduled date for the BRICS summit to begin.
This idea has been in the works for quite some time. Many others countries are becoming invoved, to the point that it is now called BRICS +.
So far it has been more talk than action. If they announce plans to go forward with a commodity backed currency, and gold is announced as being part of the equation, then this will be the catalysis of all catalyses for the price of gold.
The financial world may be in for quite a surprise next month.
If anything concrete and definitive takes place, being on the wrong side of gold and gold mining stocks may prove devastating for the shorts.