Gold standard strategy and the collapse of dollar
Gesara.news » News » Gold standard strategy and the collapse of dollarNews 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
The ultimate goal of the campaign is simple: create police, prosecutors and judges who are absolutely loyal, absolutely pure and absolutely reliable.
Too much physical demand now for paper system to accommodate;
Keeping mum about government intervention in gold market;
Spoofing trades by JP Morgan;
JP Morgan backed by ally who has infinite money;
Federal Reserve captured by financial industry;
Defeating the manipulators of the gold price.
A BILL To promote freedom, fairness, and economic opportunity by repealing the income tax and other taxes, abolishing the Internal Revenue Service, and enacting a national sales tax to be administered primarily by the States.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled.
U.S. President Donald Trump made the announcement Friday, after meeting with Kosovo Prime Minister Avdullah Hoti and Serbian President Aleksandar Vucic in the Oval Office earlier in the day.