BRICS and Saudi Arabian officials have been holding talks about the potential economic benefits of trading oil for RMB and then using that currency to buy gold.
BRICS (Brazil, Russia, India, China, and South Africa) and Saudi Arabia's economic ties. Gold is an integral part of this connection. Renminbi was used in the transaction between China and Saudi Arabia for the purchase of oil (RMB). The Saudis reportedly used the money to buy gold on the Shanghai Gold Market with the RMB they had received. This deal between the two countries serves as a pilot project that other BRICS nations may follow if it proves successful.
Watch the full video at Global Depression By 2025, Caused By Double-Digit Interest Rates & Inflation by Simon Hunt.
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