Economists Discuss Russia, China Developing Gold-Backed Currency

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Date: November 11, 2022

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar.
Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold.
Sources: news.bitcoin

Crop circles are models for generating free energy

One Italian inventor, Umberto Baudo, believes crop circles may be meant to impart secrets of new technology and free energy to humanity.
Source:ancient-code.com

Trump nominee Judy Shelton to pass Senate next week

Judy Shelton, President Trumps nominee to the Federal Reserve, will receive a vote on the Senate floor next week and is expected to pass.
Her support appears enough to get Shelton through the Senate, where Republicans control 53 seats. Every Democrat is expected to vote against her.
Her beliefs:
> eliminating the Feds independence and federal deposit insurance
> returning the U.S. to a gold standard
Sources: thehill.com

Russia-Turkey Switching to National Currencies statement

In Sochi, Erdogan met Putin to discuss the gas hub and grain deal.
Turkish President Recep Tayyip Erdogan's emphasis on switching to national currencies in bilateral trade during his discussions with Russian President Vladimir Putin signifies a notable shift in Turkey's economic and geopolitical strategy.
Erdogan: Switching to national currencies in bilateral trade is important.
The development of a natural gas hub within Turkey dovetails with this shift in economic strategy.
Putin also stated that Russia will soon deliver free grain to Africa.

Gold standard strategy and the collapse of dollar

The dollar is no longer pegged to gold, but it is still the world's reserve currency. Over 60% of the foreign bank reserves are currently held in US Dollars.
There have been efforts by numerous countries (led by China and Russia) to dethrone the US Dollar as the world's reserve currency. China has been reducing its exposure to the Dollar for a long time, and both China, as well as Russia, have been stocking up on gold in recent times.
Central banks added 650 tons to their reserves in 2019, the second highest shift in 50 years, after the 656 tons added in 2018. Before the 2007-09 financial crisis, central banks were net sellers of gold worldwide for decades. Leading the recent spree has been China, Russia, Turkey, Kazakhstan and Uzbekistan.
China can escape the fate of a dollar collapse by tying the yuan to gold. There is little doubt she has access to sufficient gold. Currently, her interest is to preserve the dollar, not destroy it, because it is the principal means of Chinese foreign interests being secured.
Sources: www.fxstreet.com, uk.news.yahoo.com, seekingalpha.com

Trump Purges 11 Leading Advisors From Defense Policy Board

Several members of the top federal advisory committee to the U.S. Department of Defense have been suddenly pushed out, multiple U.S. officials told Foreign Policy, in what appears to be the outgoing Trump administrations parting shot at scions of the foreign-policy establishment.
The directive removes 11 high-profile advisors from the Defense Policy Board, including former Secretaries of State Henry Kissinger and Madeleine Albright; retired Adm. Gary Roughead, who served as chief of naval operations; and a onetime ranking member of the House Intelligence Committee, Jane Harman. Rudy De Leon, a former chief operating officer at the Pentagon once considered by then-Defense Secretary James Mattis for a high-level policy role, will also be ousted.
Sources: twitter.com, foreignpolicy.com