Dollar hegemony as the World's Reserve Currency is being challenged by many nations that no longer trust the faith and credit of the United States Treasury…
Connecting the Dots Video
…As I watched events unfold in 2007, it became clear to me that the economy had finally breached the point of no return. Equities market speculation coupled with an almost unknowable investment underwriting product called “derivatives” had leveraged the international investment banking casino to nearly 600 trillion dollars in potential liability.
Through the bogus residential real estate market made insolvent by liar loans and credit default swaps, millions of couples, often without verifiable jobs or disposable income, were being given residential real estate loans based on the faulty assumption that housing prices would continue to climb in value forever.
For those few of us with any understanding of derivatives, this whole house of cards appeared to be on the verge of collapse, and nothing would stop the mayhem once it started.
I did not fully appreciate the world's dollar over- dependence and levels of European speculation in U.S. derivatives that would force the Fed and Congress to step in with massive international bailouts.
Those “too big to fail” bank bailouts meant money printing well beyond anything reported by the mainstream media. Quite literally, the world was standing on a financial razor's edge that would expose the whole international fiat banking scam that was being held together with band-aids and bubble gum.
Although we were told that the U.S. taxpayer bailouts were for $840 billion dollars, the actual amount including the European banks was somewhere north of 16 trillion dollars.
Moreover; no one went to jail and the “too big to fail” banks handed out billions in bonuses to the clowns that got the world into this mess in the first place.
No substantive changes in the laws reeled in the speculators, giving the banksters at the Fed, World Bank and IMF a feeling that they could keep the party going forever. They were wrong!
Although many people choose to ignore the long term consequences of the 2008-2009 economic collapse, many of our allies as well as enemies began to lose faith in the dollar, especially when they saw our government spending and national debt swell from an astronomical $10 trillion in 2010 to more than $37 trillion today.
Not only was our national spending out of control, but increasingly, the dollar was being used as a weapon to punish anyone not willing to knuckle under to U.S. demands on a broad range of subjects.
This economic hubris caused a groundswell international movement to divest from the dollar.
I believe that President Trump recognizes the nature of our dilemma, but is stuck with the hand he inherited. Although the dollar is still the “world's reserve currency”, it is only a matter of time before the music stops and all the chairs are filled.
At the end of WWII the United States controlled more than 60% of all the world's gold reserves. By the time Nixon closed the gold window in 1971, 25 years later, decades of guns and butter spending since Bretton Woods had reduced America's gold holdings significantly, and no one knows the extent of the damage that Fed and U.S. Congressional hijinks have had on America's gold holdings in Fort Knox and the various National Mints.
In February of this year, shortly after his inauguration, Trump spoke openly and loudly about auditing the gold at Ft. Knox, but within 6 weeks had become completely silent on the subject and refuses to talk about it now.
Meanwhile, gold and silver have been flying off the shelves at the LBMA; the world's largest retail bullion depository, and worldwide, Central Banks are stockpiling gold in record quantities.
Meanwhile, the Chinese economy has grown from the world's 5th largest in 2007 to the 2nd largest, (by some metrics, the world's largest) with an industrial and manufacturing capacity that far exceeds our own.
It is widely rumored that China's gold holdings are much greater than officially reported…….some saying they are more than three times the 8,133 tons purportedly held by the U.S. Treasury. The BRICS nations and the 30+ additional nations that constitute the growing worldwide movement to decouple from the dollar and divest from U.S. Treasury Bonds, have spoken repeatedly about anchoring their new basket of currencies to a 40% gold backing; required of all member nations.
Taking the lessons taught by the 2008-2009 financial crisis, the same sound money advocates are looking for a stable system that returns to gold, silver, or other backing that is based on physical assets……….not debt, and does not give unfair advantage to one nation over another.
Not willing to go down easily, the Fed, the World Bank, the EU, and the IMF have been working feverishly to build digital cashless banking systems that are not only totally fiat, but will have the means to control society through an AI smart grid social credit system designed by Google for the CCP. One thing is clear.
We must refuse to accept any form of Central Bank Digital Currency or government controlled Stable Coin system proposed by Central Banksters.
Any new financial system must be based on assets and not debt. Gold and silver have a nearly 5,000 year history as a practical and honest fiscal foundation for national currencies. Competition is good and financial independence requires the ability to choose between competing currencies to resist the inevitable debasement that occurs with monopoly……especially totally fiat monopoly money.
