RE:Pie in the sky!They are talking about a basket of commodities the way I understand it so gold maybe only a fraction of the equation say 50-60;% and yes gold will have to increase .Just making another fiat currency and going digital doesn't do anything you still have 100% fiat currency .The USA has printed 10,s of trillions of dollars from thin air the bric countries haven't gone to that extreme yet so if they peg their new currency to a basket of commodities with gold being one of them they will be a completing world reserve currency with the USA $ .The US$ will still be around but just have less dominants and will probably lose some more value if they continue to back it with their goodwill only .
Kicking Russia out of swift and seizing their assets aboard made this a reality and a necessity for eastern countries outside the western circle