The expanding BRICS is changing the global economic landscape, and in times of crisis, stable gold is valued.

• The expanding BRICS is changing the world - slowly.
• Most of the world's gold has been mined in the last 200 years.
• Singapore's gold reserves have been captured on video for the first time.

The expanding BRICS is changing the world - slowly.

Zerohedge 25.9.2023
This in the article. the historical significance of the BRICS countries (Brazil, Russia, India, China, and South Africa) and their expansion to BRICS 11 with the upcoming accession of new member states (Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates) in January 2024. The author examines the economic power of BRICS 11 compared to the G7 countries and emphasizes the importance of purchasing power-adjusted figures.
The article discusses the origins of the BRICS countries and highlights their economic and geopolitical strength. It delves into the history of the global economic system, particularly during the era of U.S. dominance and the creation of the petrodollar system, which tied oil trade to the U.S. dollar. This system allowed the U.S. to run significant deficits and impacted the global economy.
The author argues that the U.S. used the petrodollar system as a geopolitical tool, imposing sanctions and using force to maintain its position of power. Examples of this include the Iraq War and the fates of leaders like Saddam Hussein and Muammar Gaddafi, who challenged the petrodollar system.
The article suggests that recent events, such as the freezing of the Russian central bank's assets, have raised concerns among the BRICS countries, particularly China and India. This has accelerated the process of de-dollarization, or the shift away from the U.S. dollar in international trade.
The author assesses the potential consequences of BRICS 11's actions, such as reduced demand for the U.S. dollar, higher interest rates, inflation, and further weakening of the U.S. dollar. While some predict a rapid decline of the petrodollar and U.S. economic power, the article acknowledges the uncertainty regarding the timing and speed of such significant changes and emphasizes that the realization of such major shifts in the global economic landscape may take time.

Most of the world's gold has been mined in the last 200 years.

Visualcapitalist 9/24/2023 Article dives into the complex history of global gold production, which stretches back two centuries. Although gold mining has been ongoing for thousands of years, an incredible 86% of all the gold on Earth has been extracted in the last 200 years—largely thanks to the development of modern mining technologies. The article uses the Our World in Data source and presents a compelling infographic that illustrates the development of gold production by country from 1820 to 2022. This visual representation vividly demonstrates how gold mining has increasingly become a global endeavor over time. The narrative describes the history of gold mining and one of modern history's most iconic gold rushes in California in 1848. The gold discovered by James Marshall in the Sacramento Valley sparked a mass migration of fortune seekers to California, ultimately leading to gold mines worth about $2 billion by 1855. In the 19th century, the United States, Australia, and Russia alternated as the world's largest gold producers. However, the late 1800s saw South Africa rise to the pinnacle of gold mining thanks to a massive discovery in the Witwatersrand basin, now known as one of the most significant goldfields in history. South Africa reached its peak annual gold production in 1970, producing an astonishing and unprecedented 1,002 tons of gold in a single year. The price of gold has been steadily rising since the 1980s, leading to an expansion of global gold production. By 2007, China had risen to become the world's leading gold producer, with over 40 countries actively participating in gold mining.

"In 2022, about 31% of the world's gold production came from just three countries: China, Russia, and Australia, each producing over 300 tons of the precious metal."

The article also discusses the future of global gold production. The price of gold has remained around $1,900 to $2,000 per ounce, close to all-time highs. For mining companies, higher gold prices could mean more profit per ounce if production costs remain stable. According to the World Gold Council, gold mine production is expected to continue growing in 2023 and could exceed the record set in 2018 (3,300 tons) due to the expansion of existing projects in North America. The chances of record mining production are greater if the price of gold continues to rise.

Singapore's gold reserves have been captured on video for the first time.

Bullionstar 31.8.2023
The gold reserves of Singapore are described in a highly secretive gold vault. In the documentary. we see BullionStar's CEO Luke Chua, who presents the vast amount of gold reserves in Singapore. Luke Chua emphasizes the enduring value of gold, especially during times of crisis, and highlights Singapore's decision to invest in gold since 1968.
For the first time, access was granted to the Monetary Authority of Singapore's (MAS) secret gold vault, which holds over half of Singapore's official gold reserves. MAS currently has 225.4 tons of gold, making it the 24th largest gold holder in the world. The location of the secret gold vault in Singapore remains undisclosed; estimates of its location range from government-owned buildings to secure military or police bases.
The documentary offers a glimpse into the MAS gold vault, where approximately 128 tons of gold bars were visible. This likely indicates that the gold seen in the video consists of the historical 127.4 tons of gold that Singapore acquired years ago. Notably, the gold bars shown in the video were identified as originating from South Africa's Rand Refinery, which is significant because Singapore's first gold purchase in 1968 involved acquiring 100 tons of gold from South Africa.
The documentary raised questions about the whereabouts of the recent 98 tons of gold bars that the Singapore central bank acquired between 2021 and 2023. It speculates whether these bars are still in London or if they have been returned to Singapore.