Gold standard strategy and the collapse of dollar

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News Date: July 16, 2020

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

Quantum computing finance shining in the Wall Street

The quantum computing is the latest shiny new thing of Wall Street. A fundamentally new kind of computing will shake up finance - the question is when...
Simple algorithms could be in use within 18 months, with credit-scoring a plausible early application.
For many problems, a quantum computer with thousands of stable qubits is provably far faster than any non-quantum machine that could ever be built.
Sources: www.multiversecomputing.com, www.economist.com

Central banks chiefs out

With Angela Merkel on her way out as Chancellor, her former chief economic advisor, Jens Weidmann, announced plans to step down at the end of the year as head of Germany's Bundesbank after a decade at the helm of the national central bank.
Dallas Fed President Kaplan and Boston Fed President Eric Rosengren To Retire After Ethics Issue.
Former Iranian Central Bank Chief Handed 10-Year Prison Sentence.
Slovakia's central bank chief and European Central Bank governing council member Peter Kazimir has been charged with corruption.
Philippine central bank Governor Benjamin Diokno said he is with "team transitory" and that it is more prudent for the country to delay monetary tightening.
The Turkish lira hit a record low overnight after President Recep Tayyip Erdogan ordered a new round of dismissals at the country's central bank.
So, central bank are starting to worry. They were wrong about inflation because they were wrong about supply chains, and they were perhaps wrong about labor markets, which they had just taken years to learn had no serious bargaining power.
To be continued... Stay Tuned!.
Sources: www.cnbc.com ,gesara.news

Zimbabwe interested in SWIFT alternatives

The Zimbabwean government would like to become a member of the BRICS economic bloc, the speaker of the ruling party ZANU-PF said on Wednesday.
"We made it clear that we would like to become a member of the BRICS," Christopher Mutsvangwa told Russia's RIA Novosti news agency.
The official added that his country is interested in developing alternatives to the Western-dominated SWIFT payment network.
In his view, BRICS could contribute to that.

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

Trump Hints at Gold-Backed Reset

🏆 August 11, 2025: In a direct statement, President Donald J. Trump reassured investors and markets: “Gold will not be Tariffed!” This pledge signals a commitment to keeping the precious metal free from trade barriers, reinforcing its role as a safe haven in uncertain times.
"Gold will not be Tariffed!" — Donald J. Trump
For centuries, gold has been a symbol of stability and wealth preservation. By removing any threat of tariffs, the U.S. sends a clear message — gold remains a secure and untouchable asset for those seeking financial protection. 📈✨
April 28, 2025: In a recent interview with The Atlantic, President Donald Trump made a striking assertion, declaring, “I run the country and the world.” The phrase suggests a centralized, commanding role in shaping national and international affairs, reflecting his ongoing narrative of strong leadership.
April 20, 2025: 🏆 Donald Trump’s recent posts slammed “NON-TARIFF CHEATING,” pinpointing currency manipulation as a top threat to fair trade. Echoing his “level playing field” mantra, Trump’s boldest statement—“HE WHO HAS THE GOLD MAKES THE RULES”—signals a potential global currency reset anchored by America’s 8,133.46 metric tons of gold, dwarfing China’s 2,264.32 and Russia’s 2,335.85 tons.
Targeting nations like China and Japan for allegedly devaluing currencies to boost exports, Trump’s focus on U.S. gold reserves suggests a strategy to counter manipulation by revaluing gold.
This could unlock billions to stabilize the dollar or fund tariffs, reshaping global trade. X posts today amplify the hype, with users debating a shift to gold-backed systems like XRP to rival BRICS’ gold hoarding. As fiat currencies wobble, Trump’s gold-centric rhetoric positions the U.S. to dictate new financial rules—provided it navigates the risks.