So they don’t have to create a “new” currency except in name, and they don’t have to make it “convertible, redeemable or backed by gold”. Why, because they just have to USE gold. Something the world used to do before fiat was created. Countries settled accounts by using gold, how novel a concept. All those skeptics and critics who said it is too hard or too complicated and won’t work are whistling past the graveyard. All the members and future members already own gold, are buying more and it will just be deposited into a BRICS bank and gold will be used to facilitate transactions from one country to the next WITHOUT needing or using US dollars. That is how the dollar gets replaced as the global reserve currency with no need for any other country’s currency to replace it. Gold returns to the role it has served for thousands of years. https://www.zerohedge.com/geopolitical/brics-currency-project-picks-speed