Gold Telegraph
@GoldTelegraph
OUTSIDE THE SYSTEM: BOXED.
Yesterday, a tech outage affected airlines, banks, supermarkets, media outlets, and more worldwide.
This was one of the largest in history.
Who was not affected?
Russia and China.
They have been building their own self-made tech infrastructure.
They continue to work on becoming “self-sufficient,” focusing on achieving this within their financial system.
Both countries have established two alternatives to SWIFT:
• Russia uses the ruble-based payment system called the System for Transfer of Financial Messages (SPFS).
• China uses the Cross-Border Interbank Payment System (CIPS), which processes payments in Chinese yuan.
At the same time, BRICS is working on creating a payment system based on blockchain and digital technologies, as the bloc’s countries develop digital currencies and stockpile gold.
Two countries within BRICS, Iran and Russia, have reportedly begun working on a gold-backed stablecoin.
This comes as Putin has hinted he wants to speed up the deployment of Russia’s central bank digital currency.
At the same time, he is warning that Russia could face electricity disruptions if the government doesn’t get crypto mining under control, as Russia is one of the world’s top cryptocurrency miners.
In 2022, Vladimir Putin said that: the economy of real and hard assets is inevitably replacing the economy of imaginary wealth.
Interesting set of words as:
China is the world’s largest gold producer.
Who is number two?
Russia.
Both are ramping up gold purchases and strategically accumulating.
Clearly, gold will play a significant role in helping countries globally become self-sufficient and maintain their sovereignty as they face the threat of reserves being frozen, as seen with Russia.
Saudi Arabia has privately warned the G-7 over Russia financial seizures.
There is a reason gold is at an all-time high in fiat currencies around the world:
As a multipolar world emerges, countries are working to protect themselves from extreme financial measures.
