John Reade
speaker
553 appearances
2 recordings
1 series
first heard Oct 2024
last heard 10 Oct
John Reade’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Oct 2025 with 1.
Appearances
a real asset for central banks that are that are looking to protect themselves against potential Western.
Well it would be restrictive if you were to introduce a gold backed currency um as the as your means of uh of use of currency in your own country.
And and I
I I'd start off really by talking about this by saying
There's been a lot of chatter, particularly on the internet, but not an awful lot of formal statements about what is planned here.
And I think there's been a fair amount of misunderstanding.
Personally, I don't think there's any chance that the BRICS will go for a currency union, so something like the Euro, um, backed by gold.
I don't think they'll ever they'll go for there's no chance of going for a currency union, never mind whether gold's involved in it at all, simply because these these countries are so different.
Some are running big current account deficits, some are growing very fast, some are very s growing very small, some are are running current accounts.
surpluses.
So as I say, they're very different looking economies and they don't trade that much with each other.
One of the reasons why the Eurozone nearly worked or mostly works is because they are proximate to each other and they trade a lot with each other.
And their economies are by and large similar in in in shape and and and and level of development.
So I think we can forget the idea of currency union between the BRICS nations.
But I think there is one potential use where a gold backed currency used between BRICS countries could potentially be useful.
And it again comes back to this sanctions resistant uh quality of gold.
So I think that BRICS countries are frustrated that the dollar and to a much lesser extent other Western currencies are at the heart of international trade.
They would much rather trade without having to bother the West for the use of their currencies or their financial system.
But the problem they have is that their currencies aren't very liquid.
There's usually capital controls.
Showing 401–420 of 553 · page 21 of 28
← Previous
Next →