LETTER: New reserve currency
Return to gold standard would be beneficial for sub-Saharan region and other Brics countries
05 July 2020 - 19:50
Andile Systems CEO Andries Brink makes a brilliant case for a new Southern African reserve currency linked to a basket of commodities, and thus a return to an enhanced gold standard (“Creation of a regional reserve currency would give SA a chance to lead (https://www.businesslive.co.za/bd/opinion/2020-07-01-creation-of-a-regional-reserve-currency-would-give-sa-a-chance-to-lead/)”, July 1).
The plan is simple, using blockchain technology and the underground reserves of commodities such as gold, silver, diamonds, platinum and possibly other commodity reserves...
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