The BRICS Gold-backed commodity structure revealed [Video]

Samuel Briggs Kinesis Money

In this week’s episode of Live from the Vault, Andrew Maguire breaks down the structure behind the new “sanction-proof” BRICS gold-backed world settlement currency, and provides a teaser ahead of the upcoming BRICS Plus summit.

The whistleblower digs deeper into gold’s potential as a first-tier asset class alternative to high counterparty-risk US treasuries, and shares his thoughts on how the Federal Reserve has been so wrong-footed by gold in recent months.

Timestamps

00:00 Start

03:00 An update on short-term price action for gold and silver

06:15 Evidence that gold is being employed as “fire insurance” against risk?

13:52 Gold’s classification as a first-tier asset class

18:05 Speculators being wrong-footed by delayed COMEX reporting

23:13 A teaser ahead of the BRICS summit on 23-25 August

25:56 A new world economic order?

30:30 How did the FED get gold so wrong?

38:12 Are the US being pressured into complying with Basel III NSFR standards?

Author

Samuel Briggs

Kinesis Money

Samuel holds a deep understanding of the precious metals markets, and as an in-house journalist for 1:1 gold and silver-backed monetary system, Kinesis, he is chiefly responsible for updating the community with insights and analys

GBP/USD looks for direction around 1.3500

GBP/USD alternates gains with losses around the 1.3500 neighbourhood on Tuesday. That said, Cable struggles to extend its recent marked recovery in a context of continuous instability in the Middle East, which in turn keeps the Greenback well supported.

EUR/USD treads water around 1.1540

EUR/USD struggles to gather momentum on Tuesday, trading in an inconclusive fashion around 1.1540. Indeed, the pair’s price action comes amid the absence of clear direction in the US Dollar, as traders continue to closely follow developments in the Middle East.

Gold eases from tops, challenges $4,400

Gold retreats from its earlier tops and slips back below the key $4,400 mark per troy ounce on Tuesday. The precious metal’s marginal gains comes on the back of a sidelined price action in the US Dollar amid steady uncertainty from the geopolitical landscape.

Crypto Today: Bitcoin and Ethereum consolidate, XRP dips as optimism for a US-Iran deal fades

Bitcoin (BTC) maintains a neutral outlook on Tuesday while testing support at $64,000. Investors appear to be sitting on the fence, awaiting a catalyst for a breakout above $65,000.

The inflation narrative is still way more important than the employment story

Core bonds sold off yesterday with the belly of the curve slightly underperforming in the US while European curves showed more of a bear flattening. Daily changes on the US curve varied between +4.7 bps (2-yr) and +6.4 bps (7-yr).

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.