The BRICS UNIT: The Catalyst for a Revolutionary Global Currency Reset
After 14 years in the GCR community, I’m more excited than ever about the new BRICS Gold-backed Financial System.
This could be the game-changer we've been waiting for, leading to a revolutionary RV/GCR.
Here is the WHY, HOW, and WHEN of this system and its potential to transform our financial future.
From its foundation and benefits to its impact on global trade, there’s much to explore.
This is a pivotal moment in our journey towards a stable and transparent global monetary system.
---
WHY, HOW and WHEN the BRICS UNIT leads us to a groundbreaking gold-backed currency reset worldwide.
The new BRICS UNIT is getting a lot of attention these days. Over my 14+ years of being involved in the Global Currency Reset (GCR), the subject has never been more front and center on the world stage than today.
In This Article
- Understanding the UNIT Currency Initiative
- Timeline of the BRICS Summit
- Composition and Backing of the UNIT Currency
- Benefits for Precious Metals Miners
I have been reporting extensively about the new BRICS Gold-backed Financial System, and for good reason. I now believe that the UNIT System is the definitive model for the GCR and the subsequent revaluation (RV) of global currencies.
I am committed to continuing my in-depth reporting and analysis of the BRICS UNIT System here at GCR Real-Time News. This platform will remain the most comprehensive source of real-world, fact-based RV/GCR news and opinion for my readers worldwide.
While the BRICS UNIT System may not be the final iteration or event of the RV/GCR, it is undoubtedly the catalyst that will offer a completely new currency and cross-border payment/settlement system alternative to the global fiat currency debt system.
is a model that will initiate the eventual global adoption of gold and real assets to back sovereign currencies.
What makes the BRICS UNIT System so compelling is its openness. It is not a closed, inclusive financial system designed only for BRICS Member Nations. It is open to any country, whether a BRICS Alliance Member or not.
It will even work with nations that remain on a pure fiat currency system. This ability to create exchange rate pairs between UNIT and Fiat based currencies is where our RV Currency Exchange opportunities will be realized.
It is expected that the Western G-7 Alliance will resist transitioning to a gold and real asset-based currency system until the last days before the global, US dollar-dominated fiat financial debt system completely implodes and freezes into its inevitable death.
This article is the first of a comprehensive four-part series on the BRICS Gold-backed UNIT Currency System.
Here in Part 1, I will explain the basic foundation and composition of the BRICS Gold-backed UNIT Currency so that you may gain a fundamental understanding of this revolutionary alternative financial system that will change the face of the global monetary system forever.
The UNIT is a significant catalyst for a global currency revaluation (RV), offering a transparent alternative to the fiat currency debt system.
The UNIT system, open to all nations, aims to back sovereign currencies with gold and real assets.
The upcoming BRICS Summit will be pivotal in its adoption, marking a significant shift towards a stable, efficient global monetary framework.
BRICS UNIT Currency Initiative
The BRICS nations are working to enhance economic cooperation by promoting local currencies in international trade.
A key proposal is the UNIT, a gold-backed digital asset operating on a blockchain platform. This initiative aims to provide a stable and reliable medium of exchange, leveraging gold’s intrinsic value and blockchain technology’s efficiency.
BRICS Summit Timeline
A critical decision regarding the UNIT currency will be made at the upcoming BRICS Summit, scheduled for October 22 to 24, 2024, in Kazan, Russia.
The summit will bring together BRICS leaders to discuss the strategic direction and operational aspects of the UNIT, potentially setting the stage for its adoption.
Composition and Backing of the BRICS UNIT
The UNIT currency will be uniquely structured to ensure stability and value. Each UNIT will be backed by a reserve basket composed of 40% gold, with the remaining 60% consisting of participating BRICS currencies, all convertible into gold.
single currency will have a weight greater than 30% in gold terms, ensuring a balanced and diversified reserve. This structure aims to mitigate risks and enhance confidence in the UNIT currency.
Potential Winners from BRICS UNIT Gold Demand
The adoption of the UNIT currency is anticipated to have significant economic implications, particularly benefiting precious metals miners.
Companies listed on the Australian and Canadian stock exchanges, major players in the global precious metals mining industry, stand to gain from the increased demand for gold that the UNIT currency would generate.
UNIT Ecosystem Design
The UNIT currency will be created through a blockchain-based node system.
Participants will mint UNITs by depositing corresponding values of gold and BRICS currencies at these nodes. The ecosystem will rely on decentralized blockchain-based synchronization for integrity, ensuring transparent and secure transactions.
The UNIT is not intended to replace local currencies in domestic transactions but will function alongside them, providing an additional medium for international trade and financial operations.
Transaction Costs
One key advantage of the UNIT currency system is its potential to reduce transaction costs.
Processing fees for transactions on the UNIT blockchain are expected to be lower than those associated with traditional payment systems, such as bank wires.
This cost-efficiency could make the UNIT an attractive option for businesses and financial institutions engaged in cross-border transactions.
Governance and Rules
The UNIT ecosystem’s governance will be structured around a Decentralized Autonomous Organization (DAO), supported by a legally recognized international intergovernmental organization (IIO).
Decisions within the IIO will be made through super-majority votes by nodes, ensuring a democratic and transparent governance process.
Currency Eligibility for UNIT
To be eligible for inclusion in the reserve basket backing the UNIT, a currency must have price discovery in gold terms.
This requirement ensures the value of the currencies in the reserve is transparent and reliable. Notably, UNITs will not be redeemable for the underlying reserves directly.
Redemption will only be possible through a buyout procedure conducted by a node, maintaining the reserve system’s stability and integrity.
The Bottom Line
The proposed UNIT currency represents a significant innovation in international finance, combining gold’s stability with blockchain technology’s efficiency. The upcoming BRICS Summit will be a pivotal moment in determining this initiative’s future, with the potential to reshape global trade and financial transactions.
This four-part series will continue to explore the intricacies and implications of the BRICS gold-backed UNIT currency system, offering a comprehensive understanding of this groundbreaking development in global finance.
The BRICS UNIT system is not a closed financial system but is open to any country, including those outside the BRICS alliance and those operating on a fiat currency system.
This inclusivity could lead to opportunities for RV currency exchanges. The Western G-7 Alliance might resist transitioning to a gold and real asset-backed currency system until it becomes unavoidable.
However, the BRICS UNIT system is poised to be a catalyst, initiating the global adoption of gold and real assets to back sovereign currencies.