Mark Moss argues BRICS' gold-backed currency won't work because member states don't trust each other. He points to Putin being threatened with arrest at a South African meeting, questions how they'd verify gold reserves, and says Bitcoin is the only non-political alternative for global settlement.
Sure, the BRICS, they're gonna have a new currency, right? A gold-backed currency. They can't even trust each other. At the last meeting in South Africa, they were gonna arrest Putin if he went to the meeting. Putin from Russia, the R in BRICS, couldn't go to the S in South Africa. But yeah, sure, they're gonna trust each other. And even if they could, what, they're gonna once a month load up pallets of gold on a plane and ship it across the sea or put it onto airplanes? How do I know if China really has the gold they say they have? How do I know that they'll actually deliver it to me if I need it and want it? What was the problem That money originally was created for? To solve trust. What's the problem today? There's no trust. The world needs a neutral settlement layer and a neutral reserve asset, period. And if it's not Bitcoin, then what?
