New Found Gold Corp V.NFG

BRICS currency

[Retiredgeo]

A new currency called BRICS backed by Brazil, Russia, India, China and South Africa is set to debut next month.  From what I understand, it will be a gold backed currency but the details are still sparse.  Some market watchers believe that it will undermine the US dollar and send gold soaring.  Others believe that it will just be another currency of regional importance like the Euro.

Either way, this could be the catalyst that wakes up the gold mining sector.  In better times NFG would be a $12-$24 stock, as is!

[MaterialsMan]

Ret. 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

[Retiredgeo]

Burn shorts! Burn! Maybe Bucc and Reality888 will go long!!!

[Dixiedee]

This post has been removed in accordance with Community Policy

[Retiredgeo]

This post has been removed in accordance with Community Policy

[Dixiedee]

I have also been following this very closely and the number of countries keeps growing it has been a long process But long overdue it will eventually put the world back in balance but there could be some pain for some 

[Retiredgeo]

My ability to predict market crashes and global macro changes is ZERO!  Nobody knows what the future holds and I take everyone's predictions with a hadful of salt.  We have a big change on the horizon and that is usually good for gold.  We are at the bottom of the mining cycle and the beginning of a new gold cycle.  What both need are a shock and this BRICS might be that

[AlwaysLong683]

Excerpt from an article courtesy of Wionews dated July 7, 2023: ....the New Development Bank, a financial institution created by the BRICS bloc, said in an official statement that it doesn’t have any immediate plans for a common currency. Instead, the members of BRICS – Brazil, Russia, India, China and South Africa – are pushing to conduct more bilateral trade in local currencies. They aren

[Retiredgeo]

The key words might be "immediate plans". Russia confirms BRICS will create a gold-backed currency | Kitco News