Why the Vietnam Dong (VND) Will Likely RV First
t’s no secret that the now, 10-nation BRICS Alliance will formally take serious measures to create and launch a gold-backed trade currency this year. As of this week, Russian President Vladimir Putin assumed leadership of the BRICS Alliance for one year.
Putin and the Russian Finance Ministry prepared and submitted proposals for a gold-backed trade currency ahead of the BRICS annual summit in 2023.
However, India was formally opposed consideration and China was reluctant as well. As such, the gold currency proposal was not officially included on the BRICS summit agenda for formal discussions .
Why the VND? Unless some major existential event occurs on a massive geopolitical scale, I see no realistic scenario for 180 nations to unanimously adopt a worldwide gold-backed currency system in the near future.
Now that Russia’s Putin is leading BRICS events and strategic initiatives in 2024, the gold trade currency will most certainly be taken up for Member consideration and debate this year.
Vietnam Applies for BRICS Membership
In 2023, Vietnam, along with fourteen other nations, formally applied for BRICS membership and their application has been officially accepted for consideration.
As far as our RV/GCR is concerned, the single most plausible scenario for the initiation of RV exchanges will begin with BRICS.
Why?
Because unless some major existential event occurs on a massive geopolitical scale, I see no realistic scenario for all 180 nations on the planet to unanimously adopt a worldwide gold/asset-backed currency system in the near future.
As much as I’d like to believe in the mythical NESARA/GESARA tenants being adopted worldwide, much less by the United States, there are serious questions as to the validity, or even the existence of the fabled NESARA program.
How a VND Exchange/RV Would Work for Us
Given that the most plausible and logical way for a country like Vietnam (or Iraq for that matter), to be able to pay for our exchanges at a significantly higher rate than today’s 24,000 VND to $1.00 USD rate, is for the current USD to be significantly devalued against the VND.
Think about it, if foreigners outside of Vietnam are holding many trillions of VND, at a new rate of say 1.00 VND = $0.10 USD (10 US cents), Vietnam would have to come up with literally trillions of US dollars to buy our VND at the new rate.
This is simply economically impossible given Vietnam’s Gross Domestic Product (GDP) today is likely around $450 billion.
However, if the VND became directly convertible into a gold-backed global currency, the US dollar, along with all other fiat currencies would be extremely weak by comparison.
This is where the BRICS gold-backed common trade currency comes into play.
If Vietnam becomes a member of the BRICS Alliance, the VND would be directly convertible into the new, BRICS gold-backed trade currency and thus, by extension, the VND we all hold would be directly exchanged into the golden trade currency.
Furthermore, since the USD, Euro, etc., would be near worthless against the BRICS gold currency, we would have tremendous purchasing power in our home countries.
How much purchasing power?
That would depend on the ultimate structure of how BRICS would manage each of its member’s native currency to the new, gold-backed, common trade currency. Consequently, it’s not realistically possible to determine what our VND exchange value would ultimately be at this time.
What About the IQD?
The reason I speculate that the VND would RV before the IQD is simply because there have been no official announcements about Iraq applying to join the BRICS Alliance. I cannot simply state that Iraq has applied without direct evidence.
That said, in a recent BRICS press conference, Vladimir Putin stated that approximately 30 countries are in discussions to seek membership.
Certainly, it is highly probable that Iraq is one of those 30 countries. It is also understandable that Iraq (and BRICS) would want to keep Iraq’s application confidential for now given the tenuous, but ongoing relationship between the United States and Iraq.
Also, there is no hard rule that a country must wait for the annual BRICS Summit before it can participate within the BRICS Alliance, and/or utilize its forthcoming gold-backed currency.
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