The BRICs go for gold (Forbes)

After months of debate about various currency and commodity baskets, a Russia- and China-led consortium has apparently settled on using gold as the basis of a planned new international currency system separate from the US dollar and euro. As recently reported by state-funded Russia Today, an upcoming meeting of leaders from Brazil, Russia, India and China in August may include the formal introduction of the new initiative. Click here to read the full article

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