BRICS developing global reserve currency – Putin

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It will be based on a currency basket of the five-nation bloc, according to the Russian president

BRICS developing global reserve currency – Putin

President Vladimir Putin said on Wednesday that the BRICS countries – Brazil, Russia, India, China, and South Africa – are currently working on setting up a new global reserve currency.

“The issue of creating an international reserve currency based on a basket of currencies of our countries is being worked out,” he said at the BRICS business forum.

According to the Russian president, the member states are also developing reliable alternative mechanisms for international payments.

Earlier, the group said it was working on setting up a joint payment network to cut reliance on the Western financial system. The BRICS countries have been also boosting the use of local currencies in mutual trade.

For more stories on economy & finance visit RT’s business section

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3 Responses to “BRICS developing global reserve currency – Putin”

  1. newensign says:

    Evidently Danceaway, the UK is abolishing fiat currency and returning to the gold standard with the issue of full range of coins minted in precious metals starting with a £1000 gold coin down to small denominations in silver and will be legal tender by royal proclamation on 8th June, with effect from the 9th of June this year. Below is an article from Rumble n the subject.

    UK: The Death of Fiat Currency – By Proclamation of the Queen of England ~ June 16, 2022

    (Editor’s Note: Unable to find any pictures of these new coins…and wait, isn’t the “real Queen” already dead? So…who is generating this coinage only for large denominations?)
    The Gold standard and Silver standard is back. The Queen of England in council, in person at Windsor Castle has issued by proclamation a new £1000 gold coin, £500 gold coin, £200 gold coin, £100 gold coin and various lower denominations of silver coins. Our new currency by proclamation.
    The Death of Fiat Currency – By Proclamation of the Queen of England.
    The Gold standard and Silver standard is back. The Queen of England in council, in person at Windsor Castle has issued by proclamation a new £1000 gold coin, £500 gold coin, £200 gold coin, £100 gold coin and various lower denominations of silver coins. Our new currency by proclamation.
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Proclamations
    BY THE QUEEN A PROCLAMATION DETERMINING THE SPECIFICATIONS AND DESIGNS FOR A NEW SERIES OF TWO POUND COINS IN GOLD, STANDARD SILVER, SILVER PIEDFORT, PLATINUM AND CUPRO-NICKEL AND NICKEL-BRASS ELIZABETH R.
    Whereas under section 3(1)(a), (b), (cc), (cd), (d) and (dd) of the Coinage Act 1971 We have power, with the advice of Our Privy Council, by Proclamation to determine the denomination, the design and dimensions of coins to be made at Our Mint, to determine the weight and composition of coins other than gold coins or coins of silver of Our Maundy money, and the remedy to be allowed in the making of such coins, to provide for the manner of measurement of the variation from the standard weight of coins, and to determine the percentage of impurities which such coins may contain:
    And Whereas under section 3(1)(f) and (ff) of the Coinage Act 1971 We have power, with the advice of Our Privy Council, by Proclamation to direct that coins made at Our Mint other than gold, silver, cupro-nickel and bronze coins shall be current and that any coin shall be legal tender for the payment of any amount:
    And Whereas under section 6(2) of the Coinage Act 1971 We have power, with the advice of Our Privy Council, by Proclamation to prescribe the composition of the standard trial plates to be used for determining the justness of coins of any metal other than gold, silver or cupro-nickel:
    And Whereas it appears to Us desirable to order that there should be made at Our Mint a new series of coins of the denomination of two pounds in gold, in standard silver, in silver piedfort, in platinum and in cupro-nickel and nickel-brass.
    We, therefore, in pursuance of the said section 3(1)(a), (b), (cc), (cd), (d), (dd), (f) and (ff), the said section 6(2), and of all other powers enabling Us in that behalf, do hereby, by and with the advice of Our Privy Council, proclaim, direct and ordain as follows:
    TWO POUND GOLD COIN
    1. (1) A new coin of gold of the denomination of two pounds shall be made, being a coin of a standard diameter of 28.4 millimetres, being circular in shape and having joined concentric inner and outer sections.
    (2) Without prejudice to section 1(2) of the Coinage Act 1971, the inner and outer sections may consist of different alloys.
    (3) The approximate diameter of the inner section shall be 20 millimetres. (4) The variation from the standard weight will be measured as the average of a sample of not more than one kilogram of the coin.
    TWO POUND STANDARD SILVER COIN
    2. (1) A new coin of silver of the denomination of two pounds shall be made, being a coin of a standard weight (including the gold plate) of 12 grammes, a standard diameter of 28.4 millimetres, a standard composition (excluding the gold plate) of 925 parts per thousand fine silver, being circular in shape, and having joined concentric inner and outer sections, the outer section being plated with fine gold.
    (2) In the making of the said silver coin a remedy (that is, a variation from the standard weight, composition or diameter specified above) shall be allowed of an amount not exceeding the following, that is to say:
    (a) a variation from the said standard weight of an amount per coin of 0.25 grammes for the inner and outer sections;
    (b) in relation to those parts of the coin other than the gold plating, a variation from the said standard composition of five parts per thousand fine silver; and
    (c) a variation from the said standard diameter of 0.125 millimetres per coin.
    (3) The variation from the standard weight will be measured as the average of a sample of not more than one kilogram of the coin.
    (4) The approximate diameter of the inner section shall be 20 millimetres.
    (5) The said silver coin shall be legal tender for the payment of any amount in any part of Our United Kingdom.
    TWO POUND SILVER PIEDFORT COIN
    3. (1) A new coin of silver of the denomination of two pounds shall be made, being a coin of a standard weight (including the gold plate) of 24 grammes, a standard diameter of 28.4 millimetres, a standard composition (excluding the gold plate) of 925 parts per thousand fine silver, being circular in shape, and having joined concentric inner and outer sections, the outer section being plated with fine gold.
    (2) In the making of the said silver coin a remedy (that is, a variation from the standard weight, composition or diameter specified above) shall be allowed of an amount not exceeding the following, that is to say:
    (a) a variation from the said standard weight of an amount per coin of 0.36 grammes for the inner and outer sections;
    (b) in relation to those parts of the coin other than the gold plating, a variation from the said standard composition of five parts per thousand fine silver; and
    (c) a variation from the said standard diameter of 0.125 millimetres per coin.
    (3) The variation from the standard weight will be measured as the average of a sample of not more than one kilogram of the coin.
    (4) The approximate diameter of the inner section shall be 20 millimetres.
    (5) The said silver coin shall be legal tender for the payment of any amount in any part of Our United Kingdom.
    TWO POUND PLATINUM COIN
    4. (1) A new coin of platinum of the denomination of two pounds shall be made, being a coin of a standard weight (including the gold plate) of 30 grammes, a standard diameter of 28.4 millimetres, being circular in shape, and having joined concentric inner and outer sections, the outer section being plated with fine gold.
    (2) In the making of the said platinum coin a remedy (that is, a variation from the standard weight or diameter specified above) shall be allowed of an amount not exceeding the following, that is to say:
    (a) a variation from the said standard weight of an amount per coin of 0.360 grammes for the inner and outer sections; and
    (b) a variation from the said standard diameter of 0.125 millimetres per coin.
    (3) The said platinum coin may contain impurities of three-tenths of one per centum.
    (4) The variation from the standard weight will be measured as the average of a sample of not more than one kilogram of the coin.
    (5) The approximate diameter of the inner section shall be 20 millimetres.
    (6) The composition of the standard trial plates to be used for determining the justness of the said platinum coin shall be pure platinum.
    (7) The said platinum coin shall be legal tender for the payment of any amount in any part of Our United Kingdom.
    TWO POUND CUPRO-NICKEL AND NICKEL-BRASS COIN
    5. (1) A new coin of cupro-nickel and nickel-brass of the denomination of two pounds shall be made, being a coin of a standard weight of 12 grammes, a standard diameter of 28.4 millimetres, being circular in shape and having joined concentric inner and outer sections, with a standard composition as to the inner section of seventy-five per centum copper and twenty-five per centum nickel, and as to the outer section of seventy-six per centum copper, four per centum nickel and twenty per centum zinc.
    (2) In the making of the said cupro-nickel and nickel-brass coin a remedy (that is, a variation from the standard weight, composition or diameter specified above) shall be allowed of an amount not exceeding the following, that is to say:
    (a) a variation from the said standard weight of an amount per coin of 0.5 grammes for the inner and outer sections;
    (b) a variation from the said standard composition as to the inner section of two per centum copper and two per centum nickel, and as to the outer section of two per centum copper, three-quarters of one per centum nickel and two per centum zinc; and
    (c) a variation from the said standard diameter of 0.125 millimetres per coin.
    (3) The approximate diameter of the inner section shall be 20 millimetres.
    (4) The inner and outer sections of the said coin may contain impurities of three-quarters of one per centum.
    (5) The variation from the standard weight will be measured as the average of a sample of not more than one kilogram of the coin.
    (6) The composition of the standard trial plates to be used for determining the justness of the nickel-brass outer section of the said coin shall be pure copper, pure nickel and pure zinc.
    (7) The said cupro-nickel and nickel-brass coin shall be current and shall be legal tender for the payment of any amount in any part of Our United Kingdom.
    DESIGNS OF THE COINS
    6. The designs of the said two pound gold, silver, silver piedfort, platinum, cupro-nickel and nickel-brass coins shall be:
    ‘For the obverse impression Our effigy with the inscription “· ELIZABETH II · D · G · REG · F · D · 2 POUNDS ·” and the date of the year, and for the reverse either:
    (a) an abstract depiction of a smallpox cell accompanied by a representation of the people who have benefited from vaccination with the inscription “EDWARD JENNER A VACCINE TO END SMALLPOX”. The coin shall have a grained edge and in incuse letters the inscription “· INNOVATION IN SCIENCE · JENNER” save for the gold and platinum coins where the incuse letters shall be accompanied by a plain edge; or
    (b) a depiction of Tolkien’s monogram with the inscription “1892 JRR TOLKIEN 1973 WRITER · POET · SCHOLAR”. The coin shall have a grained edge and in incuse letters the inscription “· NOT ALL THOSE WHO WANDER ARE LOST” save for the gold and platinum coins where the incuse letters shall be accompanied by a plain edge; or
    (c) a depiction of the Flying Scotsman with the inscriptions “FLYING SCOTSMAN LNER 4472” and “· 1923 – 2023 ·”. The coin shall have a grained edge and in incuse letters the inscription “· LIVE FOR THE JOURNEY” save for the gold and platinum coins where the incuse letters shall be accompanied by a plain edge.’
    7. This Proclamation shall come into force on the ninth day of June Two thousand and twenty-two.
    Given at Our Court at Windsor Castle this eighth day of June in the year of Our Lord Two thousand and twenty-two and in the seventy-first year of Our Reign.
    GOD SAVE THE QUEEN

  2. danceaway says:

    Yes, I remember you mentioning this quite recently, newensign.

    I don’t know what to make of it, since we have not heard a peep! But the detail is amazing.

  3. newensign says:

    Here is the link with video which mentions the higher value missing from the previous comment which I forgot on the previous post.
    https://roserambles.org/2022/06/16/uk-the-death-of-fiat-currency-by-proclamation-of-the-queen-of-england-june-16-2022/

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