RT’s Emms: A Lot of Countries, Including the U.S., Moved Itself Off the Gold Standard to Print as Much Money as They Want

SUCHET What we keep ░░░░░░░░ back to is you ░░░░░░░░ one big family let ░░░░░░░░ hope it s a ░░░░░░░░ family Taylor Yeah SUCHET ░░░░░░░░ all living under one ░░░░░░░░ you ve got to ░░░░░░░░ things a bit of ░░░░░░░░ and take ebb and ░░░░░░░░ EMMS Absolutely SUCHET to ░░░░░░░░ everyone on the same ░░░░░░░░ be pretty much happy ░░░░░░░░ Absolutely SUCHET Chris why ░░░░░░░░ so many BRICS central ░░░░░░░░ hoarding gold EMMS Well ░░░░░░░░ know you re Taylor ░░░░░░░░ percent right Global gold ░░░░░░░░ now held by BRICS ░░░░░░░░ SUCHET Yeah at least ░░░░░░░░ Yeah 20 percent Taylor ░░░░░░░░ has to be some ░░░░░░░░ of devious plan here ░░░░░░░░ Oh let s see ░░░░░░░░ mean I mean I ░░░░░░░░ you re a massive ░░░░░░░░ buff And by the ░░░░░░░░ if I d have ░░░░░░░░ a few of your ░░░░░░░░ tips you ve given ░░░░░░░░ over the years crosstalk ░░░░░░░░ Well I hope you ░░░░░░░░ I hope you have ░░░░░░░░ I think I should ░░░░░░░░ taken a few more ░░░░░░░░ Every day is a ░░░░░░░░ record EMMS Absolutely Look ░░░░░░░░ think the point is ░░░░░░░░ is everyone has gone ░░░░░░░░ You know what s ░░░░░░░░ with BRICS is you ░░░░░░░░ we ve got countries ░░░░░░░░ China I think the ░░░░░░░░ thing about China is ░░░░░░░░ the way that their ░░░░░░░░ is structured is they ░░░░░░░░ at historical significance of ░░░░░░░░ And you will see ░░░░░░░░ fact that any country ░░░░░░░░ a lot of countries ░░░░░░░░ the U S moved ░░░░░░░░ off the gold standard ░░░░░░░░ did that do It ░░░░░░░░ allowed countries to print ░░░░░░░░ much money as they ░░░░░░░░ And what s that ░░░░░░░░ That s when the ░░░░░░░░ economy is in chaos ░░░░░░░░ Yeah EMMS far more ░░░░░░░░ we can actually see ░░░░░░░░ they try and cover ░░░░░░░░ up And I think ░░░░░░░░ as as countries as ░░░░░░░░ do go back to ░░░░░░░░ safe haven That s ░░░░░░░░ been gold Why is ░░░░░░░░ valuable Well really I ░░░░░░░░ it s maybe on ░░░░░░░░ s ring here it ░░░░░░░░ on your fingers but ░░░░░░░░ s become that safe ░░░░░░░░ So I think it ░░░░░░░░ a very sensible way ░░░░░░░░ I wouldn t be ░░░░░░░░ guys if and when ░░░░░░░░ see a BRICS currency ░░░░░░░░ Yeah SUCHET Right EMMS ░░░░░░░░ will play a huge ░░░░░░░░ in that SUCHET Could ░░░░░░░░ be a mixed commodity ░░░░░░░░ right Taylor So I ░░░░░░░░ gold because it s ░░░░░░░░ store of value And ░░░░░░░░ were saying that any ░░░░░░░░ currency which I understand ░░░░░░░░ early but it d ░░░░░░░░ 40 percent backed by ░░░░░░░░ 60 percent by the ░░░░░░░░ currency SUCHET A mixed ░░░░░░░░ right Taylor Yeah national ░░░░░░░░ they said But you ░░░░░░░░ what Also I was ░░░░░░░░ to someone who probably ░░░░░░░░ nothing when it comes ░░░░░░░░ finance compared to you ░░░░░░░░ economics But what he ░░░░░░░░ is you know what ░░░░░░░░ that happens it s ░░░░░░░░ very clever move Because ░░░░░░░░ re basically saying to ░░░░░░░░ hey how about you ░░░░░░░░ in a currency that ░░░░░░░░ has something to back ░░░░░░░░ Because all fiat currencies ░░░░░░░░ re just backed by ░░░░░░░░ and trust And at ░░░░░░░░ moment unfortunately the U ░░░░░░░░ has lost trust So ░░░░░░░░ fact you re saying ░░░░░░░░ someone be like I ░░░░░░░░ got something hard to ░░░░░░░░ you You know don ░░░░░░░░ you want to invest ░░░░░░░░ that People would feel ░░░░░░░░ secure and it would ░░░░░░░░ greater stability because they ░░░░░░░░ that it s a ░░░░░░░░ through genuine worth EMMS ░░░░░░░░ absolutely Saskia I think ░░░░░░░░ re right By mixing ░░░░░░░░ essentially for an investor ░░░░░░░░ re saying look I ░░░░░░░░ to invest in this ░░░░░░░░ which is essentially what ░░░░░░░░ re doing when you ░░░░░░░░ an FX trader you ░░░░░░░░ Forex a foreign exchange ░░░░░░░░ Yeah record low EMMS ░░░░░░░░ They record low But ░░░░░░░░ they re doing is ░░░░░░░░ they re analysing also ░░░░░░░░ and countries to feel ░░░░░░░░ But I m saying ░░░░░░░░ I ll hedge your ░░░░░░░░ I ll also give ░░░░░░░░ 40 percent that you ░░░░░░░░ is in a store ░░░░░░░░ value And then you ░░░░░░░░ got your 60 percent ░░░░░░░░ play with But it ░░░░░░░░ not an entire gamble ░░░░░░░░ pretty much every other ░░░░░░░░ apart from let s ░░░░░░░░ the euro the U ░░░░░░░░ dollar and the Chinese ░░░░░░░░ is at the moment ░░░░░░░░ Yeah EMMS It really ░░░░░░░░ those currencies Taylor Well ░░░░░░░░ all of this is ░░░░░░░░ fascinating I have to ░░░░░░░░ it s very helpful ░░░░░░░░ someone knows this because ░░░░░░░░ understand very little when ░░░░░░░░ comes to things like ░░░░░░░░ But I understand kind ░░░░░░░░ the basics of the ░░░░░░░░ that are happening And ░░░░░░░░ definitely seem to be ░░░░░░░░ major shift from of ░░░░░░░░ the financial frameworks and ░░░░░░░░ that we ve been ░░░░░░░░ in and taken for ░░░░░░░░ for so long without ░░░░░░░░ understanding who benefits and ░░░░░░░░ s at the mercy ░░░░░░░░ it Well that was ░░░░░░░░ RT contributor Chris Emms ░░░░░░░░ s always wonderful to ░░░░░░░░ your analysis SUCHET He ░░░░░░░░ tells us what the ░░░░░░░░ will never tell you ░░░░░░░░ know so we love ░░░░░░░░ you do mate We ░░░░░░░░ it EMMS Thanks a ░░░░░░░░ guys SUCHET Thank you ░░░░░░░░ much. Chris Emms.”