Treasury Secretary: Expect a decline in the dollar as Reserve Currency

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News Date: June 14, 2023

Treasury Secretary Janet Yellen Acknowledges Countries' Trend Toward 'Replacing The Dollar'.
Expect a gradual decline in the dollar's share of global reserves, according to Yellen.
During a congressional hearing, she was asked about dedollarization, to which she responded with her remarks.
The statements come amid global de-dollarization initiatives being undertaken by a number of nations, including the BRICS economic bloc.

China imports gold to revive an economy

China's net gold imports via Hong Kong jumped to a nine-month high in July, data showed on Thursday, with banks snapping up bullion as Beijing works to revive an economy.
Net imports stood at 48.773 tons in July, compared with 40.563 tons in June.
Total gold imports via Hong Kong were up nearly 23.7 percent to 53.91 tons.
Source: reuters.com

What is the Gold Standard

Gold standard, monetary system in which the standard unit of currency is a fixed quantity of gold or is kept at the value of a fixed quantity of gold. The currency is freely convertible at home or abroad into a fixed amount of gold per unit of currency.
In an international gold-standard system, gold or a currency that is convertible into gold at a fixed price is used as a medium of international payments. Under such a system, exchange rates between countries are fixed; if exchange rates rise above or fall below the fixed mint rate by more than the cost of shipping gold from one country to another, large gold inflows or outflows occur until the rates return to the official level.
President Franklin Roosevelt suspended the gold standard in 1933, a move which is widely credited with helping the country climb out of the Depression.
Sources: youtube.com, www.cbsnews.com

The big switch to yuan and National Currencies

Putin, Xi Vow to Use Yuan as Russia and China Move to Settlements in National Currencies.
Russia has vowed to move to use the Chinese yuan as a settlement currency with countries in Asia, Africa, and Latam.
Putin expressed that using national currencies for international trading 'should be encouraged further.'
Source: news.bitcoin

Zero Point Energy Declassification

Trumps revenge will be Declassification of Zero Point Energy! Off-world vehicles not made on this Earth.
The quantum field theory predicts that there exists an energy of the vacuum resulting from the non-zero zero-point energies of the quantum fields that fill our universe.
Imagine if we could collect the energy out of thin air. And I mean it quite literally.You know how you were taught that a vacuum is nothing but empty space? That isnt exactly true, at least in the world of quantum mechanics. If you dive deeper, below the level of molecules, atoms, electrons and protons, and into the world of the tiniest subatomic particles, like quarks, you will see that even the vacuum of space can never be truly empty. It is filled with particles that randomly pop in and out of existence.But the exciting thing about those these fluctuating particles is that they generate energy that we could, hypothetically, put to good use.
Sources: twitter.com, beforeitsnews.com, www.youtube.com

Challenging The G7

BRICS plus nations in the Global South could represent a sea change in the West's global institutions.
The West has traditionally dominated global groupings of leaders, most notably the G8, which included Russia until 2014 and is now the G7.
That is an inter-governmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, with the European Union is a 'non-enumerated member'.
Russia is ready to develop a global reserve currency together with China and other members of the BRICS group of nations.
It could be based on a basket of currencies from the organization's members.
One possibility is that the BRICS basket currency could attract the reserves not just of the group's members, but also countries already in their range of influence.
These include nations in South Asia and the Middle East.
Sources: silkroadbriefing.com