This trend really started during the Biden administration with the Ukraine war... And just by the way, when the BRICs talk about this currency that they're going to develop... that might be part of what's driving this as well. That's a very long term project by the BRICs countries. I don't think we're going to see anything in the next few years.View on YouTube
As of 30 November 2025, BRICS has not launched a unified, widely used, gold‑backed settlement currency for international trade, but the prediction’s time window ("the next few years," i.e., roughly until 2028) has not yet elapsed.
Current status:
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At the July 2025 BRICS summit in Rio, leaders explicitly did not launch a joint BRICS currency and instead prioritized local‑currency trade and development of the BRICS Pay payment platform. Analysts reviewing the summit concluded that any euro‑style BRICS currency is at least a decade away, with a possible settlement "unit of account" only around 2028–2030 and broader systems (like BRICS Pay) now targeted toward 2030.
These same sources note that, as of October 2025, there is still no unified BRICS currency and no near‑term release date. (ebc.com)
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A detailed October 2025 analysis of Russia’s role in the project reports that the much‑touted BRICS common currency proposal was effectively shelved ahead of the 2024 summit and was not on the formal agenda at the 2025 summit, underscoring the lack of a currently functioning BRICS joint currency. (desk-russie.info)
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There is an emerging gold‑linked settlement architecture: the New Development Bank has set up a cross‑border settlement hub to facilitate BRICS trade under a gold‑influenced standard, and officials/analysts describe a proposed settlement unit (often called the “Unit”) backed 40% by gold and 60% by member currencies. However, this is described as a future or pilot‑stage mechanism, with operational targets around 2030 and pilots possibly starting in 2026—not as a presently widely used international settlement currency. (watcher.guru)
Given this, Sacks’s claim that we are unlikely to "see anything" like a BRICS gold‑backed currency in the next few years has not yet been falsified, but it also cannot yet be confirmed as correct, because there is still significant time before his implied horizon of ~2028. The appropriate rating therefore is “inconclusive (too early)”.