According to the news I've been reading, countries are opting for alternative currencies (including cryptocurrencies) when conducting international trade, especially the yuan.
Yuan, rupees and rubles could be backed by gold soon.
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Trade means little when compared to capital flow. This is what most do not understand. What do companies do once they get the Rupees? What do they buy?
I don't know what they do, because TradFi is a black box.
I'm guessing they might be stacking BRICs currencies for the announcement that they're backed by gold, while using the USD to continue business operations.
You are reading nonsense written by gold bugs who have been wrong for 50 years. Backed by gold. That is moronic. HTF do you even settle that.
It is all the gold going to moon, USD will crash crap.
I would much prefer a world operating on decentralized cryptocurrencies, but there are still many traditionalists who believe we should return to a gold standard, and supposedly China's been stacking it for years now.