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Lyn Alden Says a Gold-Backed BRICS Currency will be ‘Very Hard’ to Deliver


Gold-backed BRICS currency will be ‘very hard’ to deliver: Lyn Alden A common currency would be challenging for Brazil, Russia, India, China and South Africa to initiate and maintain, but it could have an impact on Bitcoin, investment strategist Lyn Alden says. Macroeconomist Lyn Alden has cast doubt on a proposal that would see five countries work together to develop a common BRICS currency — arguing it will likely struggle to get off the ground and fail to dethrone the United States dollar. In an interview with Cointelegraph just days before the BRICS annual summit in South Africa, Alden explained…

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