Dutch Central Bank Preparing for the Gold Standard
Gesara.news » News » Dutch Central Bank Preparing for the Gold StandardNews Date: November 3, 2022
Update from November 18, 2023:
The Dutch Central Bank (DNB) disclosed in a recent interview that it has modified its gold reserves to bring them into line with those of other nations within and outside the eurozone.
Motivated by political factors, this policy seeks to maintain strength and balance in reserves in relation to GDP.
Additionally, DNB proposed that during a financial crisis, an increase in the price of gold might make it possible to utilize official gold reserves as a stabilizing mechanism to uphold or create a new gold standard.
News from November 3, 2022:
Dutch Central Bank discussing Gold Revaluation
The DUTCH government openly discussed canceling debt by revaluation of the Gold price.
The Governor of the Dutch Central Bank stated the gold revaluation account ensures the solvency of his central bank in an interview on television about prospective losses.
This was meant to seem butch, but frankly 1.75% interest rates is historically the equivalent of zippo. The market didn't care much.
The 1 yen coin used to be gold, it is now aluminum.
The yen never recovered from its periods of inflation, but Japan's economy did and huge wealth was created, so in the end in periods of inflation, cash is trash.
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As of June, transactions on China's highly advanced CBDC had totaled 1.8 trillion yuan.
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Gold will be a crucial factor for China as the nation looks to strengthen the yuan's international credibility and continues to push forward its plans to buy oil from Saudi Arabia.
President Xi Jinping told Gulf Arab leaders on Friday that China would work to buy oil and gas in yuan, a move that would support Beijing's goal to establish its currency internationally and weaken the U.S. dollar's grip on world trade.
China to use Shanghai exchange for yuan energy deals with Gulf nations.
China's President Xi Jinping said in Riyadh on Friday that China and Gulf nations should make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade.