The South African BRICS Spokesperson Said What?
Authored by J. Kim of skwealthacademy substack
Earlier this month, the Russian Embassy in Kenya tweeted, “The BRICS are planning to introduce a new trading currency, which will be backed by gold”. A South African BRICS official announced today that a new BRICS currency is not on the agenda for their summit late next month in Johannesburg. Interestingly enough, not a single major Western media outlet reported on the Russian embassy’s announcement of a BRICS planned gold-backed currency earlier this month, but several major Western media outlets quickly reported on the South African BRICS official’s denial.
A few months earlier, Alexander Babakov, deputy chairman of Russia’s Duma (the lower house of the Federal Assembly of Russia) had first hinted at this new BRICS currency at a conference in India by stating Russia was leading the formation of a new currency. Brazilian President Luiz Inàcio Lula da Silva seemed to confirm the development of a new BRICS currency by following up Babakov’s announcement by wondering to the press, “Why all countries have to base their trade on the [US] dollar?” And preceding all these statements, Russian economist Sergei Glazyev stated that Russia and China were developing a commodity-backed alternate currency to the USD in 2022. But all of these statements were disputed by a press release issued by South Africa’s BRICS Sherpa, Anil Sooklal, earlier today, and gleefully reported upon by Western media outlets.
"There's never been talk of a BRICS currency, it's not on the agenda," Anil Sooklal stated. "What we have said and we continue to deepen, is trading in local currencies and settlement in local currencies." If you’re wondering what is a BRICS Sherpa, it is a person appointed to function as the BRICS mouthpiece for that nation.
So what gives? WHO IS LYING AND WHO IS TELLING THE TRUTH?
In answering this question, we must first consider that there has often been signs of dissension among BRICS nations in financial matters, a fact that I’ve written about extensively in the past, with India, under PM Narendra Modi, often executing strategies loyal to the Western banking alliance rather than demonstrating unity with BRICS nations. As one example of many instances in which India’s financial policies were aligned more closely with the NATO than the BRICS alliance, just read this link.
Thus, the genesis of Sooklal’s issued statement today has one of three possibilities:
(1) It was issued as a BRICS propaganda device to mislead the Western MIBC about the real timeline of the BRICS/MWS gold-backed currency, much like Sergei Glazyev’s issued statement last year that the alternate currency being developed by Russia/China was to be backed by more than a dozen commodities instead of just by gold; or
(2) It was issued at the urging of the Western MIBC (Military Industrial Banking Complex), as Western propaganda in an attempt to stop the recent price surge of gold and silver, and Sooklal is nothing more than a MIBC puppet; or
(3) Russia has been issuing propaganda about the imminent launch of a gold-backed currency to counterbalance Western Central Banking attacks on synthetic gold and silver prices while they continue the development of a gold-backed currency in conjunction with China.
Either way, if I had to fathom a guess about which of the above possibilities is correct, since South Africa is not spearheading the development of this BRICS alternate currency or the development of the Moscow World Standard (Московский Мировой Стандарт, the Russian/Chinese attempt to free gold and silver prices from Western Central Banking price suppression schemes), I would put more faith in the word of Russian/Chinese spokespeople about coming developments than I would in the word of a South African spokesperson. Even if possibility (3) turns out to be the truth, I don’t think that there is any chance that China and Russia are not developing an alternate currency to wean the economies of all non-NATO nations off of US dollar dependence. The only question, in my opinion, is whether the launch is imminent or is further down the road than has been speculated. To keep track of ongoing developments in this matter before the August BRICS summit, follow my substack newsletter here and my new Telegram channel, “skwealthacademyofficial”, here.
PS. Even if you missed the most recent price upsurge in gold/silver mining stocks, it is still not too late. Join my top-tier level patreon memberships for the gold/silver mining stock picks with the most upside price appreciation potential (last year, my overall cumulative returns to my top-tier membership levels was 69.5% on all picks). I am getting ready to release another junior mining pick with massive upside potential in a few days. Though my top-tier patreon memberships are capped most of the year, a few memberships are now available for a limited time only.
