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
Since sound money must be scarce, fiat money can never be sound since unlimited amounts can be and have been created. One of the very important features of gold is that it is scarce. The total global gold stock only increases by 1.7% or 3,000 tones per annum.
So scarcity is one of the important reasons why gold is the only currency that has survived in history.
It was established through a loan from the Vatican when D.C. was transferred into a city-state and this corporate entity.
It is now under siege for interfering with the elections of We The People of the United States along with the Vatican and the other foreign nations who interfered, such as Germany, Italy, China, et al.
They are now an enemy of the state and their assets shall be seized.
Our military has already been taking down the giant as we have witnessed while all eyes were set on the voter fraud.
The forming of this corporation in D.C. is of major importance to understand, for when President Trump signed an executive order in 2018 on Election Interference/Fraud for entities both foreign and domestic, it outlined how assets would be seized.
Please read on to understand the nature of the battle we are in. This article is a good primer for those that are becoming aware.
Read also: Defunct US Inc
The Kraken Cray XT5 supercomputer at the National Institute for Computational Sciences (NICS) has been upgraded to become the first academic computer in the world to exceed one petaflop of calculation power.
Sources: news.utk.edu, news.softpedia.com