Tom welcomes retired naval officer Matt Riley to the show. Matt shares his background in economics and global affairs and expresses his interest in the developing BRICS system. They discuss the BRICS alliance's diplomacy, economic cooperation, and representation goals. Matt explains nBRIDGE, a decentralized settlement system, with gold acting as a stable store of value for settling trade imbalances.







Matt explains the use of gold in net settlement currencies and direct payment methods for energy transactions between BRICS Nations. The bilateral central bank and exchange agreements create a decentralized system, with Dubai being the second-largest gold trading hub due to its diplomatic neutrality.







Matt discusses the potential implications of the BRICS currency system on oil, gold, and silver. He suggests a more stable energy pricing structure could benefit all parties. Maintaining stability in energy prices is crucial for everyone's benefit. The current system is serving BRICS nations by isolating them from the serious debt problems associated with the US dollar-based system.







Lastly Matt encourages listeners to shift focus from financial assets to community and social capital for true wealth and happiness. He can be found on X and frequently appears on Chris's channel Arcadia Economics.







Time Stamp References:0:00 - Introduction0:34 - BRICS & Payment Systems4:15 - Brief History of BRICS10:22 - nBRIDGE Exchange System13:43 - Gold's Settlement Role15:08 - Basket Structure?16:41 - Volume of Use?18:32 - Exchange Dubai vs. London20:32 - BRICS Summit Russia27:43 - Playing Both Sides?31:24 - PMs & The Road Ahead35:54 - Silver Role & Industry40:07 - Oil & Dollar Hegemony46:14 - Expectations for BRICS48:40 - Bypassing Sanctions50:50 - Change Mindset & Focus53:15 - Wrap Up







Talking Points From This Episode









* The BRICS alliance explores decentralized digital currency exchange systems like nBRIDGE for economic cooperation and diplomacy.







* Matt discusses gold's role in net settlement currencies and stable energy pricing within the BRICS system.







* Matt highlights potential benefits of the BRICS currency system, such as stability in energy pricing and reduced reliance on US dollar.









Guest Linkshttps://x.com/efbullion







Matt Riley is a follower of Jesus, Husband, Father, and retired Naval Officer. He has extensive experience in international security, as well as geopolitical and economic analysis.