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RE: Gold Backed BRIC Currency: Why It Won't Happen

I don't think most people realize how few hands control the vast majority of the world's physical gold supply. In 12 months, like the US, the Vatican could swoop in an further cement their dominance over that market, and there would be little anyone could do to stop them, if they were to make that choice. China isn't the only big buyer of gold, either, so is Russia's central bank, which has been stockpiling the metal for years now, and has largely reduced their USD-denominated debt to negligible levels not seen in generations.

I don't see the Dollar dying, but there will be more supranational internationalists and communists demanding single currencies like for Africa or Mercosur in Latin America.