Max Keiser stated that the BRICS, driven by China, Russia, and India, will push for the introduction of a gold-backed stablecoin to combat a hegemonic US dollar stablecoin. He assessed that the former will have the advantage of being inflation-resistant.
Max Keiser Explains That BRICS Will Fight Against the US Dollar
International markets are on the verge of a battle for supremacy, with emerging groups defending their independence from US dollar dominance. Max Keiser, current cryptocurrency advisor to the Bukele government and a Bitcoin enthusiast, claims that gold will be one of the tools used to counter the hegemony of a coming dollar stablecoin.
Keiser used social media to explain what would happen in a scenario where the dollar begins to become ubiquitous in international trading markets and alternative blocs organize a defense centered on digital gold.
Keiser explained:
The BRICS, primarily Russia, China, and India, will counter any attempt by the US to introduce a hegemonic, USD-backed stablecoin with a gold-backed stablecoin.
He added that this alternative would be favored by other countries, which would prefer the gold-backed token because it provides protection against inflation and does not reinforce US hegemony.
Keiser added that introducing a gold currency would be easy, at least in India. “India already operates on a de facto gold standard, and Sharia law in Muslim countries would dictate gold over a USD riba coin,” he assessed.
The idea of a gold-backed BRICS currency emerged in 2023, when the concept of a unified BRICS token was still part of the international group’s agenda. Economist Jim Rickards explained that such a currency would spell trouble for the dollar, as it would appreciate while inflation and devaluation hit the US economy, allegedly leading to the destruction of the greenback.
Yet the idea never materialized. President Trump warned that he would hit the BRICS with a 100% tariff system if they dared to “play games with the dollar” and create their own currency to conduct trade transactions within and outside the bloc.
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