Today, we spoke with Patrick Barron, an economic commentator and Mises.Org author, as well as formerly being a professor of economics at the University of Iowa. We talked about the recently reported stories concerning discussions between Xi Jinping and Vladimir Putin about a new international trading settlements system based upon gold as the underlying security asset. As well as Patrick’s own articles on this subject at Mises.org, we also referenced related research articles by Alasdair Macleod of Goldmoney.Com.
Patrick also spoke about the work of Sergey Glazyev, Vladimir Putin’s senior economics advisor, who has been working officially on a new trade settlement currency for use between members of the Eurasia Economic Union (EAEU) and all members of the Shanghai Cooperation Organisation (SCO), as well as the BRICS countries (Brazil, Russia, India, China, and South Africa). Between them, EAEU, SCO, and BRICS represent over half of the world’s current population, so Glazyev’s proposed trade settlement currency could become a real working global gold money within the next few years, pitting itself firmly against the US dollar as the world’s reserve trading currency.
- 0:00 – Intro
- 1:39 – Why does the world need a new reserve trading currency?
- 7:43 – Is Glazyev’s proposed trade settlement currency real?
- 14:34 – Who is involved in creating this new gold-based trade settlement currency?
- 18:17 – When will this new currency actually start being used?
- 20:54 – What will the US government do when challenged by this new currency?
- 24:36 – Will the US government resort to coercion to force people to keep using their dollar?
- 27:22 – Is there any place for cryptocurrency in this new proposed currency?
- 29:18 – Where can people go to keep an eye on this topic and its developments?
- 32:07 – How can people protect themselves from the volatility that may arise from the use of this new currency?
- 34:31 – Information on Alasdair Macleod’s reports and Sergey Glazyev’s work
- 36:32 – Accessing articles by Patrick Barron
- 37:14 – Wrap-Up
Patrick Barron’s articles at Mises.Org:
Patrick’s recent Mises.Org article on this topic:
Most relevant of the recent Alasdair Macleod reports on this area:
More information on Sergey Glazyev:
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