constructing a trade medium of exchange
we now turn to the mechanics of constructing a new trans-national gold-backed currency. one condition which will need to be in place is for a value for gold measured in goods to back inter-asian trade. despite the accumulation of gold by the central banks of the shanghai cooperation organisation membership, some of them may not have sufficient official gold reserves to cover their balance of payments deficits except for limited times, requiring a higher gold value in order to do so. and other members, such as russia, could see continual accumulation of physical gold because of her balance of payments surplus. ideally therefore, instead of trade settlements being entirely in physical gold, they should be facilitated by a banking system whose credit values are securely based on gold to ensure flexibility.

构建交易媒介
现在我们转向构建一种新的跨国黄金支持货币的机制。一个需要到位的条件是，以货物衡量的黄金价值，以支持亚洲之间的贸易。尽管上海合作组织成员国的央行积累了黄金，但其中一些国家可能没有足够的官方黄金储备来弥补其国际收支赤字，除非是在有限的时间内，这就需要提高黄金价值。
而其他成员国，如俄罗斯，由于其国际收支顺差，可能会看到实物黄金的持续积累。因此，理想情况下，贸易结算不应完全以实物黄金结算，而应由一个信用价值以黄金为基础的银行体系提供便利，以确保灵活性。

the task therefore is to design an entirely new non-national currency backed by gold, specifically created for cross-border trade and commodity transactions. presumably, this is what glazyev is trying to achieve instead of the more cumbersome eaeu project originally announced. it is a relatively simple task and does not require blockchains and the paraphernalia of a cbdc. the mantra should be to keep it simple, and therefore have no mystery.

因此，我们的任务是设计一种全新的、由黄金支撑的非国家货币，专门为跨境贸易和大宗商品交易创造货币。据推测，这就是格拉济耶夫试图实现的目标，而不是最初宣布的更繁琐的欧亚经济联盟项目。这是一项相对简单的任务，不需要区块链和cbdc的相关设备。咒语应该保持简单，这样才没有神秘感。

the bulleted list that follows is a brief outline of how a new trade settlement currency based on gold can be established to replace the fiat dollar in all transactions between sco/brics member nations. by being completely independent of national currencies, it should be politically acceptable to all involved, as well as a long-term practical solution to facilitate the russian-chinese axis’s ambitions for an asian industrial revolution, free from interference by america and her allies.

下面的项目列表简要概述了如何建立一种基于黄金的新贸易结算货币，以取代上海合作组织/金砖国家成员国之间所有交易中的法定美元。通过完全独立于本国货币，它应该在政治上为所有相关方所接受，同时也是一个长期可行的pg电子麻将胡了的解决方案，可以促进中俄轴心在不受美国及其盟友干涉的情况下实现亚洲工业革命的雄心。

the essential elements are as follows:
the announcement of the creation of a new central bank (ncb) and a new gold-based currency on the lines below will be made in advance of implementation to allow bullion markets to adjust to the new regime before it comes into existence.
a new central bank is then established, whose function is to issue a new book-entry currency backed by physical gold, issued and available only to participating central banks. it will be designed to be a fully trusted gold substitute, independent from fiat currency values.
the new currency will only be redeemable for physical gold by participating central banks. they will also be free to add to their ncb currency reserves by submitting additional gold to the ncb at any time.

基本要素如下:
新的中央银行(ncb，后都用ncb)和新的基于黄金的货币将在实施之前宣布，以允许黄金市场在新制度生效之前进行调整。
然后建立一个新的中央银行，其职能是发行一种新的记账货币，由实物黄金支持，只向参与的中央银行发行和使用。它将被设计成一种完全可信的黄金替代品，独立于法定货币价值。
这种新货币只能由参与其中的央行兑换成实物黄金。他们还可以随时通过向ncb提交额外的黄金来自由地增加他们的新货币储备。

the ncb’s eligible participants will only be the central banks of participating nations, limited to member nations of the sco, eaeu, and brics. the ncb’s currency is issued to the national central banks against their assigning a minimum 40% gold backing for it. for example, currency representing one million gold grammes secures an allocation of 2,500,000 currency units denominated in gold grammes. the gold does not have to be delivered to a central storage point but can be earmarked[iii] from within a participating central bank’s gold reserves, on condition that they are securely stored in vaults on a list approved by the ncb.

ncb的合格参与者仅限于参与国的央行，仅限于上海合作组织、欧亚经济联盟和金砖国家成员国。ncb的货币发行给国家中央银行，而国家中央银行为其指定了至少40%的黄金作为后盾。例如，代表100万克黄金的货币可获得250万以金克计价的货币单位。
黄金不必交付到中央储存点，但可以从参与的中央银行的黄金储备中指定，条件是它们安全地存放在ncb批准的清单上的金库里。

commercial banks trading in member nations and elsewhere will be free to create and deal in credit denominated in the ncb’s new currency. issuers and users of this credit are always free to acquire physical gold in the markets, should they wish to back credit created in the new currency with gold itself.
all taxes and restrictions on gold ownership must be fully removed by participating nations. gold’s legal status as money must be reaffirmed, if necessary.

在成员国间和其他地方进行交易的商业银行将可以自由创建和交易以ncb新货币计价的信贷。这种信贷的发行者和使用者总是可以在市场上自由获取实物黄金，如果他们希望用黄金本身来支持新货币创造的信贷的话。
参与国必须完全取消对黄金所有权的所有税收和限制。如有必要，必须重申黄金作为货币的法律地位。

an efficient central clearing system for commercial banks dealing in credit based on the new currency will need to be established.
accompanied by the major energy producers setting price benchmarks, commodity exchanges in member nations will be required to price all products in the new ncb currency, replacing pricing in us dollars completely for trade between participating member nations. they can still quote prices in dollars for others should they so wish.

需要建立一个有效的中央清算系统，供商业银行以新货币进行信贷交易。
在主要能源生产商设定价格基准的同时，成员国的商品交易所将被要求以新的ncb货币为所有产品定价，在参与成员国之间的贸易中完全取代美元定价。如果他们愿意，他们仍然可以用美元报价给其他人。

the purpose of the new currency is to provide the basis for trade finance and other cross border financial settlements on a sound money basis. it is also likely to lead to participating nations placing a greater emphasis on their own currencies’ stability while providing a safe haven from a fiat currency systemic collapse.
all empirical evidence informs us that when gold becomes the means by which credit is valued, credit’s own value is not dependent on stability in the quantity of credit, taking its value from gold. this stability imparts pricing certainty to trade and investment, necessary conditions for maximising economic progress particularly in the context of wider industrial development throughout asia.

新货币的目的是在稳健的货币基础上为贸易融资和其他跨境金融结算提供基础。它还可能导致参与国更加重视本国货币的稳定性，同时为法定货币的系统性崩溃提供一个避风港。
所有的经验证据都告诉我们，当黄金成为衡量信贷价值的手段时，信贷本身的价值就不再依赖于信贷数量的稳定，而是从黄金中获取价值。这种稳定性为贸易和投资带来了价格的确定性，这是实现经济进步最大化的必要条件，尤其是在整个亚洲工业发展的大背景下。

constructed on the lines above, remarkably little physical gold would be required to underwrite cross-border payment values for trade in asia and beyond. this trade settlement currency should be simple and quick to establish. it must be free from interference from members of the western alliance trying to preserve their own fiat currency systems. and the 40% gold backing rhymes with the basic requirement for a metallic monetary standard set by sir isaac newton, when he was master of the royal mint.
for participating central banks, the replacement of gold in their reserves for allocations of the new currency would represent a significant increase in their reserves. as confidence in the scheme builds, it could be argued that only minimal gold reserves need to be retained by participating central banks, with the balance swapped for the new currency. for example, the reserve bank of india officially possesses 795 tonnes of gold. converted into the new gold currency, its value in reserves is uplifted to 1,988 tonnes equivalent.

基于上述思路，在亚洲及其他地区的贸易中，几乎不需要实物黄金来担保跨境支付价值。这种贸易结算货币应该简单快捷。它必须不受试图保留本国法定货币体系的西方联盟成员国的干预。40%的黄金支持与艾萨克·牛顿爵士设定的金属货币标准的基本要求一致，当时他是皇家造币厂的负责人。
对于参与其中的中央银行来说，用储备中的黄金来代替新货币的分配，将意味着其储备的显著增加。随着人们对该计划的信心逐渐增强，人们可能会辩称，参与该计划的央行只需要保留最低限度的黄金储备，其余部分就可以换成新货币。例如，印度储备银行(reserve bank of india)官方持有795吨黄金。如果换算成新的黄金货币，其在储备中的价值将上升至1988吨。