Posted on 01/02/2022 6:17:57 PM PST by elpadre
Central banks around the globe are ending 2021 with the highest gold holdings in 31 years.
Yet the real story as monetary authorities recalibrate foreign-exchange reserve holdings is how the US dollar is on the losing end of these shifts. And in the year ahead, this trend could become a systemic problem.
True, the dollar’s value versus gold has been falling for more than a decade now. That’s a product of ultraloose Federal Reserve policies flooding the globe with record liquidity. Now, even as the Fed moves to tighten the credit spigot a bit, other monetary powers are pivoting to gold.
The reason is growing concerns that the dollar’s reserve-currency days are over, or at best numbered.
The 30-year bookmark has become a hallmark of 2021. China’s economic growth recently dropped to the lowest levels in three decades. US inflation and Japan’s Nikkei Stock Average both surged to the highest levels since the early 1990s. But the 30-year metric that might matter most is central banks shifting from dollars to gold.
According to the World Gold Council, central bank stockpiles of the yellow metal have now increased by more than 4,500 tons over the past decade. At the end of September, such reserves totaled 36,000 tons, a level not seen since 1990.
Might all hell break loose for the dollar in 2022?
(Excerpt) Read more at asiatimes.com ...
and more:
“.....Investment strategist Manpreet Gill at Standard Chartered Bank speaks for many when he says: “We think the dollar has room for strength at the start of the year.”
But there are at least five headwinds facing the dollar in 2022. And five reasons to worry economist Stephen Roach’s belief that “the dollar’s crash is only just beginning” are looking less hyperbolic by the day. As Roach, former chairman of Morgan Stanley Asia, asks: “Why in the world would you own dollar debt?”....”
report from AsiaTimes, what else would it be allowed to publish?
“True, the dollar’s value versus gold has been falling for more than a decade now. “
Gold is now about $1800 an ounce. Ten years ago it was almost $1800 an ounce.
If they manage to pull off the great reset and the dollar inflates till it is nearly worthless they will not even allow the consolation prize of being able to pay off your debts with nearly worthless greenbacks.. They will create a gov issued digital currency and you will be deemed to owe the digital currency equivalent of what the dollar was worth when the debts were incurred.
No paying all your debts off with a few silver eagles that might be worth an astronomical amount of the old dollars... they will not allow old debts to be settled in old dollars.
Several times each week I go to the Drudge Report and scroll own to the links for enewspapers throughout the world and US.
And I spend a few hours reading articles on subjects of interest. Although I don’t always agree with them, I find the Asia Times articles interesting and well written and researched, much moreso than in the US.
Third death of the dollar article today. I guess it must be true. Ha ha.
“Snake” Plissken says “Bluebacks” are the way to go.
“.... dollar inflates till it is nearly worthless ...”
and those who owe and unable to make payment because of worthless dollars will owe their soul to the company store.
maybe a return to indentures servanthood
At least I got my gangster-government cut of that $100,000,000,000+ that disappeared without a trace from the Deep State stimulus slush fund.
thank you for the research, sorry that I went into auto reaction when I saw the source name - time for me to take a deeper dive.
The weaker the various currencies get the stronger cryptocurrencies get
The Dollar is still the best crapiest money in the world. It is all relative........................
I thought the freaks in the “Media” all agreed with Babs (Mama Pancakes) Streisand that Brandon has given us the best ‘conomy “in 50 years”.
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