Ok, that was my underlying assumption. It feels like what BRICS is attempting to do is implement a version of Keynes' International Clearing Union (something America rejected in the 40s) and reserect a gold-backed monitary system for international trade. In some ways they're trying to roll back the clock and attempt what could have been if the world decided to collectively reject America's notions at the 1944 Bretton Woods Conference and side with Keynes.