Gold Overtakes Euro to Become Second-Largest Central Bank Reserve Asset

Moneymetals ^ | 1 Oct 24 | Mike Mahhery

[delta7]

This is the consequences of senile Joe’s Sanctions on Russia….even Obama wasn’t stupid enough to do that- records showed he refused to take Russia off of SWIFT…weaponizing the USD was suicide…..it gets better, hint: the Brics Summit is late October, rumor to announce aa 40 percent Gold backing for their M Bridge Unit. ……is “ Operation Sandman” coming? No idea, but the internet is full of those crazy conspiracies.

Thanks Joe, the USD is walking dead, with 159 countries applying for Brics- 70 percent of the worlds population- we shall see.

[Jonny7797]

It all comes back to gold. The USA has destroyed the value of paper money thanks to congress spending it like lunatics.

[aMorePerfectUnion]

If YOU would like to be on a Gold & Silver PING LIST, please pm me.

The Gold & Silver Ping List covers the following:

Everything Gold & Silver
Stock market investments in mining companies,
etc.

[philman_36]

They keep using the word "dollar". Paper currency/debt instruments
is by no means a Constitutional "dollar".

[PGR88]

The USA has destroyed the value of paper money thanks to congress spending it like lunatics.

For me its "a people get the government they deserve."

Americans were sold progressivism and socialism, and many of us happily signed up. Over decades, that grew the bloated DC Fed.gov welfare-warfare state, and they and their corporate-leftist cronies took over control of politics, spending and the economy.

Congress obliged, because most Americans demanded it.

Wash, rinse, repeat.

[TexasGator]

“The USA has destroyed the value of paper money thanks to congress spending it like lunatics.”

The USA has destroyed the value of paper money thanks to THE Feds

[suasponte137]

I heard China has been stock pilling gold hand over fist in an attempt to knock the USD off as the reserve currency with a gold backed Chinese currency.

[PIF]

Currently over US$2,600 a troy oz

[Obadiah]

I’m kicking myself. I was going to buy some gold yesterday but I was greedy hoping for further declines, and then today gold shoots up. Argh!

[cowboyusa]

Dmm Nixon!

[unclebankster]

Dmm Nixon!

************

What should Nixon have done?

Answer: Turn into Rumpelstiltskin & spin straw into gold./sarcasm

We didn’t have the gold reserves to pay off our European financial counterparts on their $ holdings.

[cowboyusa]

Not devalue the Currency.

[zeestephen]

Monday, the US Dollar (USD) broke under 100 for the first time in about 15 months.

I expected some real damage, but USD recovered, and has been bouncing around 101 for most of Tuesday.

[Sirius Lee]

Too bad the U.S. no longer has any gold.

[zeestephen]

Forgot to mention that the interest rate on 28 day T-Bills is still almost 4.9% (annually), in spite of the recent 0.5% interest rate cut by the Fed.

To me, that indicates soft demand for short term US Treasury debt, which I find surprising.

That means the Treasury has to pay 2.5% above the inflation rate to sell its short term debt.

[Karl Spooner]

The more we learn about BRICS+ and the ways the world has navigated around the 'weaponized' dollar since Ukraine does not forecast a bright future for 'US connected' dollars.

This guy's past reports on his channel are worth following to get an idea of where the world's financial undercurrent is rapidly going, to our determent.

[Karl Spooner]

I wonder how high gold and silver will go when China owns most of the gold mines in the world like they do with other rare earth metals. Duh.

.

[delta7]

Currently over US$2,600 a troy oz
————-
When it breaks $3,000 ,$5,000 plus is a given. The most stable currency in the world , the Swiss franc just finally hit an all time high.yesterday. People just can’t figure out Gold doesn’t change- the amount of dollars to purchase it requires more- which means the USD is declining in value. The amount of Yen and amount of Aussie dollars required to buy an ounce of Gold hit all time highs awhile ago. Gold is and has been a measure of nation’s currency.

Throw in a USD currency crisis and 10,000 USD to purchase an ounce of gold just may be the norm. …… all eyes on the Brics Summit the 22nd of October., they will announce their “ Unit” will be backed by 40 percent gold….and 159 countries have applied for admission.

I fully expect Gold to hit ridiculous prices ( in USD’s) after Brics instates its MBridge Unit….why else is the entire world’s Central banks buying Gold in historic amounts? ….they know something the sheeple don’t…..even US banks have been recently instructed to establish GRA’s- Gold Revaluation Accounts.

Good luck folks, most have no idea what is being cooked up.

[delta7]

We didn’t have the gold reserves to pay off our European financial counterparts on their $ holdings
—————
Can you say Default? I can.

[delta7]

Arbitrage. Our Comex is being depleted, deliveries are being taken, then shipped to China and sold- the Shanghai Gold Exchange spot is getting 7-13 percent higher than our crooked Comex and LMBA….and not a word said by MSM.

They are depleting the West’s holdings.