De-dollarization: Are China and the BRICS building a gold-standard trading system?

Some of this speculation is coming from gold bugs, so take it with a grain of salt.

YouTube version: https://www.youtube.com/watch?v=SV-jpJqDX7c

Bullets:

• Massive volumes of gold are being moved from Western countries, to vaults outside the SWIFT system and Western regulation.
• Even for the world's top gold mining countries, such as China and Kazakhstan, their central banks are buying, instead of selling, despite record high gold prices.
• It is possible that countries are depositing gold into vaults located in friendly countries, as a form of "mutual hostage-taking". In so doing, the gold on deposit can collateralize hundreds of billions of dollars in real goods trading, and thereby replace Treasury bonds and dollars in that role.
• Western sanctions against Russia have supercharged other governments' urgency to build an alternative trading system, free of political coercion and foreign oversight.

The guys at Goldfix have a thesis, which is very compelling. They put the pieces together, and believe that the BRICS countries are setting up a financial system, based on a gold standard. Gold is being used as collateral, right now, and China is leading the expansion of the whole system.