Donald Trump back to the gold standard

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News Date: July 18, 2020

President Trump: Replace The Dollar With Gold As The Global Currency To Make America Great Again.
Global cooperation, dealing with other countries, getting along with other countries is good, it's very important. But there is no such thing as a global anthem, a global currency or a global flag. This is the United States of America that I'm representing.
We used to have a very, very solid country because it was based on a gold standard.
Bringing back the gold standard would be very hard to do, but boy, would it be wonderful. We'd have a standard on which to base our money.
Source: www.forbes.com

Egypt to trade in local currencies with BRICS

Egypt will abandon the US dollar, establishing trade with BRICS countries in local currencies. Egypt has announced that they are ditching the US dollar in their trade with China, Russia, and India.
"Nothing of the sort has been implemented but there are discussions so that we can trade in local currencies of countries like India, Russia or China," Egyptian Supply Minister Ali Moselhy told Reuters.
Last year, Egypt formally applied to join BRICS and the SCO.

Switching to gold standard

Deutsche Bank's top credit strategist Jim Reid has described himself as "a gold bug," and reckons "fiat money is a passing fad in the history of money," RT's Keiser Report recalls for the show's viewers.
Sources:www.youtube.com

The appeal of safe haven assets to increase

Escalating tensions in Israel often lead to investors seeking refuge in safe-haven assets.
This is because they closely monitor Middle East events for potential geopolitical risks that could impact financial markets.
These safe haven assets, like gold and government bonds, are considered low-risk and can provide a buffer against market volatility during uncertain times.
Institutional investors, such as hedge funds and central banks, also tend to diversify into these assets for risk management.
The impact goes beyond asset allocation, affecting market sentiment and volatility as investors react to developments in the region.
This underscores the interconnectedness of geopolitics and financial markets, prompting investors to adjust their strategies accordingly.

Gold price up as Fed begins historic ETF purchase program

The US central bank (FED) began purchasing ETFs holding corporate bonds for the first time ever Tuesday as part of its pandemic rescue package.
Such injections into the economy have generally lifted investor demand for safe-haven assets like the precious metal as fears of inflation and currency debasement grow.
Source:mining.com

Saudi Arabia wants to join BRICS

South African president says Saudi Arabia wants to join BRICS.
Cyril Ramaphosa revealed this during his two-day state visit to the kingdom on Sunday.
The BRICS nations are going to be meeting in a summit next year under the chairship of South Africa.
And the matter is going to be under consideration.
Sources: insiderpaper.com