Posted on 05/21/2022 8:09:25 PM PDT by SeekAndFind
Do you know if that has been completed?
How much physical gold is involved?
BoJiden's puppeteer is 0mamba, and 0mamba's puppeteer is So ros. It's the So ros MO to destroy economies. Designed.
The price ie value of gold has barely changed in 20 years.
The article is emotional nonsense. The dollar will slowly not be the only backup currency, but its not falling jor going to fall soon.
This is a thought-provoking column, but I do want to point out that this website “belongs” to Doug Casey, and hawks a $200 subscription to an electronic magazine Casey has put together with ol’thorn-in-Reagan’s-side David Stockman ( https://internationalman.com/dollar-collapse-contrarian-insiders/ ). It’s somewhat shameful that in promoting the subscription, Stockman tries to exploit his connection to Reagan. Stockman wrote a book entitled “The Triumph of Politics: Why the Reagan Revolution Failed.” The posted column is essentially a warrant for, intro to, and conduit to Casey and Stockman’s work. ...Still, parts of this column’s thesis are cogent, and my attack is far from perfect (not to mention...I’m generally a fan of this Freeper’s posts).
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That may sound like a lot but at today’s prices that’s only about 150 billion dollars. A drop in the bucket in today’s economies. The US GDP alone is about $20 Trillions!
Exactly! Russia's entire gold holdings don't represent even only a fraction of Elon Musk's wealth.
Regards,
What we are seeing are players hostile to the United States initiating a play to bring the dollar to it’s knees and collapse the US economy. Something similar happened in the 2009-20011 time frame under Obama but frackers intervened and our adversaries learned that an energy independent, oil exporting United States with a massively weak dollar was their worst nightmare, short of Donald Trump. That is why Bidens first act in office was to take down the American oil, coal and natural gas production. They are not going to make the same mistake twice.
and how do we prepare?
"At today’s prices" is the important part.
Gold periodically revalues such that the total value of all gold equals or exceeds the notional value of all credit. This is because creditors eventually insist on being properly paid.
The re-evaluation event has been deferred for years by the expanding, ongoing creation of 100s to 1 synthetic, promissory Gold & Silver. However the moment of truth can't be put off for ever.
The USD is going to collapse - as all fiat currencies in history have collapsed. People will rapidly, desperately try to shift from fiat currency to real money as they realise they have been lied to for decades.
They will be too late. There will be a carefully orchestrated Cyprus-style 'bank holiday'. People's resources will be frozen until they've become fully valueless.
Fortunately there is a way out. One advantage of the crushing suppression is that - right now - the prices of monetary metals are insanely low.
“It’s possible to have more than one reserve currency.”
Powell was stating fact and all the brainless idiots who are clueless like this author don’t even understand there have been multiple “reserve currencies” for several decades.
They are: The U.S. dollar, Euro, Japanese yen, British pound sterling, Chinese renminbi
Other currencies that the IMF tracks as reserve currencies include the Australian dollar, Canadian dollar, and Swiss franc.
The CHICOMS are the world champions for monetary printing, making the US look like amateurs.
From 2010 to 2022, China'a M2 went from 10 trillion yuan to 25 trillion yuan, A 5 TIMES INCREASE! Whereas the US's M2 monetary base went from 9 trillion to 22 trillion, a 2.4 times increase.
After 2009, the CHICOMS started printing yuan like wild. A lot of that money went to build ghost cities and other non-productive assets. All a huge deceitful rouge to boost their GDP.
i dont know what to think but it reminds me of my brother once telling me that “when the fit hits the shan, it’s simply gold that will matter—this stuff is just paper.
i replied that a pack of matches is worth more then several kilograms of gold if you lost in the forest!
The dream of our enemies in ending the Dollar as a reserve currency was slowly coming true even without the US pouring gasoline on it with the so-called Ukraine sanctions. Now its end-game will be hear in a few years, rather than a few decades.
More STICKING IT TO RUSSIA, I guess.
I just "linked" this post to 500 tons of gold, on the same terms as Russia, i.e. 1) You can't audit the linking or the gold, you'll just have to take my word on that, 2) You can't exchange the post for the 500 tons of gold. But hey get happy, you can claim you have a post worth 500 tons of gold.
At $1800/oz, Russia has $133 billion in gold. That is a piss in the ocean for worldwide trading. The rubles gold backing is meaningless since no one can exchange rubles for gold. And Russia can’t let the ruble be freely convertible else it would collapse. If countries buying their 500 billion of oil and gas wanted to exchange just a few months of payments in rubles for gold, Russia’s entire gold supply would be wiped out, GONE!
And what about the problem of counterfeit gold? I believe China is the biggest source of counterfeit gold but that is conjecture.
Apparently the bad guys take a tungsten slug and coat it with real gold. (Tungsten being close in weight to gold.) Telling real gold from counterfeit is very difficult, I hear.
So before you sink a fortune into bullion coins, demand verification.
“Gold periodically revalues such that the total value of all gold equals or exceeds the notional value of all credit”
This has never happened.
But, two encouraging signs that the US Dollar is NOT near imminent collapse:
(1) The US Dollar is currently priced at 103.06 against a basket of foreign currencies.
103.6 is a twenty year HIGH.
(2) In spite of inflation and Federal Reserve policy, US Treasury and corporate interest rates remain low by historical standards.
Points to consider: All currencies are essentially fiat money now, with values of currencies far, far in excess of any reserves of gold. So why are so many legendary investors advising and selling gold, rather than hoarding it and telling no one? Because they are seeking dollars, not gold.
There is not enough gold in the world to equate on a one-to-one value for any representative currency, and few governments sell their "reserves" of gold on the open market. Selling gold is a generally private market transaction AND the sales exchanges gold for currency. One prepping should be buying gold, not selling it. So who's selling? Advising buying, with their advice being sold for a bundle of inflating currency? Traders. Advisors, with lots of warning signs. All looking for currency.
As to dollar hegemony, I remain unimpressed. I worked in many countries and was paid in various currencies before (and after) the Euro "bundled" so many European currencies into one. I've been paid in yen, shekels, pounds, Deutschmarks and more. And had to exchange based on then-current rates. Things go up and they go down. Vacillating prices for gold and other commodities show this. Buy what you need / want, and then save in whatever manner you wish. The "system" will devour those who wager, accrue debt and more. But something you can feel and touch is yours. Some out-of-the-country gold storage will never be yours to defend when push comes to shove. And no "fund" promising to be "backed by gold" cannot collapse. Own property. Have liquidity. Have commodities where you can put your hands on them. Don't buy advice from "legendary" small potatoes. They don't want gold. They want your CURRENCY.
Amd they say they are "contrarian." Meh.
Step #6 China rolls up the US supply chain and we are hors de combat, our pacific allies are on their own, Japan declares itself a nuclear state, and we spend a decade getting our heads out of our butts punishing the innocent, then lynching the guilty and then 30 years trying to rebuild our economy, if we have the political fortitude to stop China from repossessing a bankrupt US.
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