This has been planned and discussed for about a year. While there have been a few twists and turns, it is building momentum(more countries will either join or at least participate). Of course there are likely to be a few hiccups and false starts and while it isn’t going to replace the dollar it is going to compete with and lessen the share of international transactions where the dollar is used. That decreases the demand for the dollar. See the paragraphs from Andy Schectman. While he is very smart and I follow him and agree with most of what he talks about, it is quite likely that the SHTF moment isn’t going to wait until the day of the “official” announcement. Either this is going to turn out to be a nothingburger (I wouldn’t bet on that) or it is going to at least start to be reflected in market prices beforehand. When have you ever seen any important economic or geopolitical event not affect the market if it was reality and not just some BS propaganda narrative? If it is important to the dollar and gold, then it is going to begin being reflected in the price before August 22nd. If not, then either it is all hype and no substance or the manipulators will never be defeated. I’ll bet on gold, before believing in either of those scenarios. https://www.zerohedge.com/markets/gold-standard-back-brics-intro-gold-backed-reserve-currency