The BRICS payment mechanism is more accurately described as a settlement mechanism for international trade imbalances using gold as a neutral reserve asset and a basket of currencies, tentatively called 'the unit,' with approximately 40% gold backing, rather than a traditional currency.
definitionpending
Speaker
DoombergEvidence Quote
“I don't necessarily think it's a currency um in the way that we think of the US dollar um it's more a mechanism to settle uh imbalances that arise in international trade um using gold as an anchor neutral Reserve asset”
Created: 8/10/2026, 4:34:54 PM
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