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
Basically every usable currency around the world today is a fiat currency.
The U.S. dollar has been fiat since 1971.
Fiat money is a currency that is declared money by decree-not by the marketplace.
Though some fiat currencies were once backed by commodities, they are now only backed by the legislative power of the government issuing them.
King of Babylon Hammurabi codified a series of simple rules and regulations inspired by Samash the Sun god, by adopting previously existing edicts into new socio-economic realities.
These regulations inspired by divinity were etched in stone, and have influenced all modern law to this day.
It happens again in 2020. This is The big event!
Are we prepared to rewrite the laws of our society to better suit our ever-changing socio-economic and political realities? We better be. because I don't think we have a choice.
The FedNow Service will be available to banks in the United States and will enable individuals and businesses to send instant payments any time of day, any day of the year through their bank accounts.
The target launch date for the service remains 2023 or 2024, with a more specific time frame to be announced after additional work is completed.
The FedNow Service, alongside similar services provided by the private sector, will modernize the U.S. payment system and bring the benefits of instant payments broadly to communities across the country.
2, Cosmic gravitational energy generating system apparatus.
3, antigravity system and device.
4, the two dish of outer image cover the dish-shaped housing that forms mutually.
Investors seem to be nervous. And perhaps rightfully so.
A 48-year market vet warns that investors should prepare for more wealth destruction than we have ever seen as the Fed gets set to tighten policy.
David Hunter reiterated his call for a steep decline in stocks ahead.
He said he expects the S&P 500 to drop as much as 80% from its peak.
Hunter said Fed tapering would trigger the crash. Investors seem to be nervous. And perhaps rightfully so.
Stocks are up 90% from the lows in the last year-and-a-half, an extraordinary bull run.
Many measures of valuation show historic over-extension.
The Federal Reserve is getting set to taper asset purchases.
Treasury bond yields are expected to rise.
Personal finance expert Robert Kiyosaki warned the October crash is coming regardless of whether the US debt ceiling is raised or what measures are imposed by Treasury Secretary Janet Yellen or Federal Reserve chair.
Sources: flipboard.com, www.independent.co.uk