Top Three Videos – June 13, 2024

The potential demise of the dollar as the world’s dominant currency is becoming increasingly likely due to growing global alliances, increasing government debt, and a shift towards gold as an alternative.

Geopolitical Impact on the Dollar

• 60% of the world’s population or nations representing 60% of the world’s population turning against the dollar could lead to its swift demise.
• “If Government debt to GDP exceeded 90% there was probably no hope. So at 130 I mean we are well into no hope territory.”
• China and Russia are determined to do away with the dollar as much as possible and introduce their own currency for trade settlement.
• The growing Alliance within the BRICS countries and the burdening debts of GDP ratios in the Western sphere could lead to a “Thucydides Trap” scenario, where conflict arises between the existing and emerging powers.
• The idea of Russia using gold to end the dollar and potential war is a controversial and intriguing concept.
• “It’s very easy for Russia to stabilize her situation and just think of the benefits, interest rates would then decline, Russians in business would find that their business calculations become a lot more profitable.”
• The 50-year agreement to accept only dollars in payment for oil has come to an end, impacting the global economy.

   

Gold Market Manipulation and Central Banks

• Central banks have been increasing their gold reserves substantially for the last two and a half years, indicating a potential shift towards gold as an alternative to the dollar.
• The reaction of gold had nothing to do with the price of physical gold, but rather with paper gold, which is credit that can be created out of thin air.
• Banks are in a position of extreme danger with the physical gold disappearing and the paper markets potentially losing control of the pricing.
• The bullion banks have been able to control the market by flooding it with gold denominated credit, but that game is coming to an end.