Max Keiser, a digital currency consultant for the government of El Salvador, announced that the BRICS group led by China, Russia, and India will introduce a stablecoin backed by gold to counter the dominance of the US dollar. He believes this digital currency will be resistant to inflation. Keiser explained on social media that if the dollar becomes widespread in international trade markets, alternative blocks will turn to digital gold to counteract. He added that other countries would prefer this option as it protects against inflation and does not strengthen US dominance. Keiser also noted that accepting gold currency in India would be easy and Islamic law countries prefer gold over the dollar. Although the idea of a BRICS united currency was proposed in 2023, it did not materialize, and Trump warned that a substitute currency would face a 100% tariff.
