Arcadia Economics: BRICS Move Gold-Backed ‘Unit’ Plans Forward Ahead of October Meeting in Kazan

In recent years, Russia’s monetary strategy has undergone a transformation that might redefine the global economic landscape. Ever since being removed from the SWIFT financial messaging system in early 2022, Russian officials have hinted at a significant shift towards gold’s involvement in their monetary framework. This strategic pivot isn’t just a reaction to sanctions—it symbolizes a broader search for economic sovereignty in an increasingly polarized world. Historically, gold has been a safe haven asset, valued across civilizations and often used as a hedge against economic volatility. The comments from various Russian officials on increasing gold’s role in their monetary system…