I'm surprised these guys all want to trust eachother. The whole point of this is to move away from the US having all the power by printing money. What system will these guys come up with to ensure trust? Will they go back to gold? Who will audit this gold? Etc....
Just move it over to Bitcoin already. The network that offers the most trust and transparency is ready.
That's not an organization based on trust; it's a following-whoever-is-the-biggest-meanest-and-the-richest system. In that organization, China + Russia is the equivalent of the United States and everybody just follows them and sucks on their teats for money and protection. I hope China's got lots of teats for them to suck on cuz USA is not there anymore. But China better be careful, all of these nations (including China itself) have all been single-handedly fed by the US and the West in the past and still is in many ways today and this is how they pay USA and the West back, by ditching and excluding USA and the West and form their own little club (and China denies its One Belt One Road initiative is not a geopolitical maneuver LOL)? So if this can happen to the USA today, this can happen to China tomorrow. USA's today is China's tomorrow. China thinks it can do better, I doubt it but then again USA doesn't speak totalitarianism so maybe China is able to keep the group under control better than the bad bad USA.