>>60939100
>The BRICS settlement system which is already in action is essentially a settlement clearing house using gold and globally distributed vaults to conduct trade transactions.
Correct. It's not yet 100% complete, but the basics are already in place, and reportedly, the parts that are working, work much better, faster and cheaper than SWIFT. Possibly within a year it will be complete and be superior to SWIFT in every way.

China still has to build out the network of SGE vaults around the world for physical redemption. The US Federal Reserve Note will go away much faster than the geriatric US politicians are capable of believing.