James Rickards on #BRICS, what's he missing here?

“They could create their own distributed digital ledger, it wouldn’t be #bitcoin, #bitcoin is a joke. But, they could come up with their own currency, the Putin coin the Xi coin, it would be completely encrypted, and all you would do is keep score, it’s no different to baseball cards right. So you keep score, and there’s this whole trading network. Then periodically, monthly, quarterly, once a year, you settle up in gold. All you do, you put gold on a pallet, fly it in a plane to the other guy, and he puts it in his vault, end of story. When you do things on net instead of gross, it’s a much smaller transaction. If you had to pay for everything with gross gold, that’s unwieldy, but if you keep score in crypto, and then settle up on net, every 6 months or so, that works fine. Notice that in everything I just said, there’s no dollar. Are we looking at the dethroning of the dollar, if we’ve got gold, Putin’s crypto, Xi’s crypto, a distributed ledger, and a large trading network, that does not involve dollars, that does not involve SWIFT, is that the beginning of the end of the dollar? It might be.”