>>21020652BRICS are announces a competitor to the Swift system. And a currency to be used for large trade volumes between countries for said system, instead of an individual level. So when India buys massive amounts of oil from the Saudies they can just use the Brics currency and neither side has to worry about unused local currencies building up.
And of course the whole thing is backed by gold. Hence china and other countries buying a fuck load of it. They already own 17% of all gold reserves in the world. Also with the inclusion of possibly Venezuela into BRICS they will now control 61% of all global oil production.
There's the beginning of rumors that they could pull a reverse petrol dollar and require their gold to be bought and sold with the gold backed BRICS currency
