Comment on China Said The Quiet Part Out Loud. by rick

Parent Post: China Said The Quiet Part Out Loud. · In Reply To

rick · 8/28/2026, 3:32:32 PM · permalink

15 bumps

hyokkim · 8/28/2026, 4:45:51 PM · permalink

"How is gold being used for such a purpose today/now, like you said it was?'' - Hyok Kim  
  
''I don't understand how you can not see that the Reserve Currency is being replaced.'' - Rick  
  
Dude, whatever the currency the world uses in payment for settling trade; it has to be deployable; how is gold being deployed to settle the trade?  
  
''I really don't. You are so unwilling to let go of fiat that is clouds your mind.''  
  
Dude, all BRICS nations use fiat; they don't use gold alone for payment of goods/services, especially for the retail public.  
  
Even 'The Unit' is not 100% gold, but a mixture of gold and fiat!    Even BRICS do not let go of fiat!  Even for trading among themselves!  
  
The Unit is a digital trade and settlement instrument developed by BRICS+ countries, backed 40% by gold and 60% by a basket of member currencies, designed to reduce reliance on the US dollar in international trade.  
  
Dude, it is you who is ignoring the fact the so-called, 'The Unit' to dethrone USD is itself mainly on fiat, in fact, multiple fiat, gold does not even play major role, but minor role compared to these multiple fiat.   Countries, most of whom are far more corrupt than even U.S.!  
  
''BRICS is not an alliance of a hand full of countries to defend each other against some sort of attack. As I pointed out to cow BRICS is an ideology and a system. You do not have to get a seat at the table participate. The psy-op has has put that into our heads to make us think it some sort of NATO like thing. If we don't get past that we don't get it.''  
  
Dude, it is you who is getting psyoped by your irrational desire to replace USD; I am not for defensing USD; I am all for replacing USD/SWIFT for more efficient trading system, but will not trade USD/SWIFT for more corrupt, more inefficient system such as BRICS.  
  
There is no independent audit of gold reserves within BRICS, and one of two countries holding significant portion of gold reserves is China, a nation notorious for committing GDP fraud; you don't trust a nation for committing GDP fraud for holding the significant portion of gold reserves for trading system.   What if a war breaks out between China and India?   China will try to punish India, by not allowing the use of Chines gold reserves, then what?   And will do the same to any nation she considers as aiding India, then what?  
  
The trading mechanism collapses.   This BRICS is full of holes.   
  
''Why is BRICS not sustainable?'' - Rick

''Due to India/China conflict, and China imploding sooner than U.S. and China being anti-stablecoin.'' - Hyok Kim

''You still have not addressed it; what are you hiding? You can't deny the scenario I had said, can you?'' - Hyok Kim  
  
''Tiring.'' - Rick  
  
Is this the best rebuttal you can do?   What if a war breaks out between China and India?   Is China going to allow her gold reserves to be used for settlement of India and other nations trading with India?     
  
"It does not say anything about audit; who is going to audit that there is actually gold backing?" - Hyok Kim

''As it takes over as the Reserve Currency .. I remember a thread maybe a couple months ago with you spending a couple days back and fourth. "it can't, it can't it can't" as it does.

I said then that the Phoenicians did it - so go figure it out.'' - Rick

Dude, it is you who need to do research why previous gold standard failed. Lack of independent audit, allowing rampant cheating by members one by one.  
  
https://en.wikipedia.org/wiki/Latin_Monetary_Union#Paper_money_issues  
  
  
''Do you ever research anything critically that does not fit your mental model? For real to say it's not your strong suit would be an understatement.'' - Rick  
  
Dude, it is you who need to provide the evidence since you're the advocate for this standard, not I.   It sounds like you're projecting your state of mind on me.  
  
Btw.  You've failed to rebut all my major rebuttal of your previous points.  
  
''Stablecoin is fiat the world is rejecting fiat.'' - Rick

https://www.fool.com/research/which-companies-accept-stablecoins/

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''Wake up, and smell the coffee, dude. How is gold being used for payment in retail public setting?'' - Hyok Kim  
  
''You all can't wrap your heads around BRICS because it is de-centralized. De-centralized banking, military, politics etc. De-centralized systems strengthen naturally/organically/individually. Look at what sanctions have actually done. Each part of the system has developed work arounds individually in response to attacks. They have become stronger individually befuddling the attacker. This holds militarily and economically. This is what sovereignty is. A de-centralized system.'' - Rick

''Stablecoins can be even more decentralized than that! Again, ROK is leading the way.'' - Hyok Kim

https://soj.ooo/p/freethinkers/post/c2829e69bb24c7e1241299b09bfc7865  
  
"Imagine that, a nation that does not produce any useful goods/services will be gaining financial leverage just because they happened to have far more gold than other countries without the gold." - Hyok Kim

''That's hard to imagine because it's never happened.'' - Rick

''.....because gold standard has never worked in the end; they've always failed due to cheating. Can you produce an example of gold standard not failing due to cheating?'' - Hyok Kim

''The mining countries tend to be poor and the countries that produce usable goods and trade tend to be rich.'' - Rick

''If gold is so useful as tradeable goods in demand, especially as the only accepted form of payment between nations, how can nations producing surplus gold can be poor?

Did Spain produce much useful goods and services during their hey day? Not much, other than extracting gold and silver from the new world; didn't that make them richest nation in Europe at least, if not the world?'' - Hyok Kim  
  
''The US had turned that upside down thanks to its control of fiat via its military but that has run its course.'' - Rick

''No, U.S. has/had become the richest nation on earth, due to production of useful goods/services, not because U.S. controlled the fiat via military. U.S. had become the richest nation in the world, after WW1, and it had nothing to do with the control of fiat.

After WW1, not only Europe's economy had been severely damaged, but it continued the additional burden of defending colonies via military means. Not only that Europe continued to be fragmented so that she could not build the economy of scale like U.S. could.

So, European nations had far higher military burden per capita, but also, very limited in economy of scale; this is where U.S. had shown its advantage, far less military burden per capita than Europe, but also, far higher economy of scale than Europe could. U.S. could produce higher quality goods at cheaper price than Europe could.'' - Hyok Kim  
  
''Your argument here sounds like you are worried that gold can become some sort of fiat.'' - Rick

''Yes, gold can become like a fiat, a very inefficient form of fiat, especially with no independent audit. How would you prevent cheating if gold standard were to be accepted?

How would you use gold for trade settlement/payment internationally? Do you think it's going to be cheaper than fiat system? Even better, cheaper than stablecoin?

How do you think the retail public would use gold for day to day purchase/payment?'' - Hyok Kim

14 bumps

rick · 8/29/2026, 3:25:47 PM · permalink

13 bumps

hyokkim · 8/29/2026, 3:58:21 PM · permalink

''I read one statement as usual the first one.''   
  
"Dude, whatever the currency the world uses in payment for settling trade; it has to be deployable; how is gold being deployed to settle the trade?" - Hyok Kim  
  
''Do you see any difference between a reserve currency and a plain currency?''- Rick  
  
Dude, you had been talking about gold-backed BRICS currency replacing USD/SWIFT.  
  
USD/SWIFT is not just a reserve currency; it is also what you call, 'plain' currency, trading currency.   USD/SWIFT would not be the reserve currency if it cannot be used as 'plain' currency/trading currency; why do you think nations over the world still used USD/SWIFT as 'plain'/trading currency among themselves not involving U.S.?  
  
Because it can be used as 'plain'/trading currency; we don't use money just for 'reserve'/protection of assets purpose; we use them for trade.  
  
Why we gave up on using gold coins directly; too inefficient for trading purpose.  
  
To dethrone USD/SWIFT, the alternative currency/system must be more efficient in trading than USD/SWIFT.    BRICS/gold reserves cannot provide that.   Stablecoin system offered by nations productive in providing goods/services in international trade can do that.  
  
You're talking about BRICS/gold reserves being used someday as 'plain'/trading currency after it replaces USD as the reserve currency; it's not going to happen; one form of money replaces another form of money as reserve currency first before being adopted as 'plain/trading currency.   This is such a didactic, ivory tower view of the worldd.   One form of currency replaces another based on its actual usage by the participants in an organic process.  
  
Again, no discussion of independent audit of gold reserves to be used for BRICS, no go.  
  
''Btw. You've failed to rebut all my major rebuttal of your previous points.'' - Hyok Kim

''Stablecoin is fiat the world is rejecting fiat.'' - Rick

https://www.fool.com/research/which-companies-accept-stablecoins/

Which Companies Accept Stablecoin Payments? | The Motley Fool

www.fool.com

Which Companies Accept Stablecoin Payments? | The Motley Fool

www.fool.com

Stock Market News &amp; Investing Research | The Motley Fool

The Motley Fool has been providing investing insights and personal finance to millions of people for over 25 years. Learn how we make the world Smarter, Happier &amp; Richer.

www.fool.com

Which Companies Accept Stablecoin Payments? | The Motley Fool

www.fool.com

Stock Market News & Investing Research | The Motley Fool

The Motley Fool has been providing investing insights and personal finance to millions of people for over 25 years. Learn how we make the world Smarter, Happier & Richer.

www.fool.com

''Wake up, and smell the coffee, dude. How is gold being used for payment in retail public setting?'' - Hyok Kim

''You all can't wrap your heads around BRICS because it is de-centralized. De-centralized banking, military, politics etc. De-centralized systems strengthen naturally/organically/individually. Look at what sanctions have actually done. Each part of the system has developed work arounds individually in response to attacks. They have become stronger individually befuddling the attacker. This holds militarily and economically. This is what sovereignty is. A de-centralized system.'' - Rick

''Stablecoins can be even more decentralized than that! Again, ROK is leading the way.'' - Hyok Kim

https://soj.ooo/p/freethinkers/post/c2829e69bb24c7e1241299b09bfc7865

"Imagine that, a nation that does not produce any useful goods/services will be gaining financial leverage just because they happened to have far more gold than other countries without the gold." - Hyok Kim

''That's hard to imagine because it's never happened.'' - Rick

''.....because gold standard has never worked in the end; they've always failed due to cheating. Can you produce an example of gold standard not failing due to cheating?'' - Hyok Kim

''The mining countries tend to be poor and the countries that produce usable goods and trade tend to be rich.'' - Rick

''If gold is so useful as tradeable goods in demand, especially as the only accepted form of payment between nations, how can nations producing surplus gold can be poor?

''The US had turned that upside down thanks to its control of fiat via its military but that has run its course.'' - Rick

''Your argument here sounds like you are worried that gold can become some sort of fiat.'' - Rick

''Yes, gold can become like a fiat, a very inefficient form of fiat, especially with no independent audit. How would you prevent cheating if gold standard were to be accepted?

How would you use gold for trade settlement/payment internationally? Do you think it's going to be cheaper than fiat system? Even better, cheaper than stablecoin?

How do you think the retail public would use gold for day to day purchase/payment?'' - Hyok Kim

12 bumps

rick · 8/30/2026, 7:25:41 PM · permalink

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hyokkim · 8/31/2026, 5:10:04 AM · permalink

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rick · 8/31/2026, 5:13:30 PM · permalink

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hyokkim · 8/31/2026, 5:35:39 PM · permalink

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rick · 8/31/2026, 6:04:24 PM · permalink

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hyokkim · 8/31/2026, 6:14:00 PM · permalink

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