What if tomorrow nobody but the United States would use the US-dollar? Every country, or society would use their own currency for internal and international trade, their own economy-based, non-fiat currency. It could be traditional currencies or new government controlled crypto-currencies, but a country’s own sovereign money. No longer the US-dollar. No longer the dollar’s foster child, the Euro. No longer international monetary transactions controlled by US banks and – by the US-dollar controlled international transfer system, SWIFT, the system that allows and facilitates US financial and economic sanctions of all kinds – confiscation of foreign funds, stopping trades between countries, blackmailing ‘unwilling’ nations into submission. What would happen? – Well, the short answer is that we would certainly be a step close to world peace, away from US (financial) hegemony, towards nation states’ sovereignty, towards a world geopolitical structure of more equality.
We are not there yet. But graffities are all over the walls signaling that we are moving quite rapidly in that direction. And Trump knows it and his handlers know it – which is why the onslaught of financial crime – sanctions – trade wars – foreign assets and reserves confiscations, or outright theft – all in the name of “Make America Great Again”, is accelerating exponentially and with impunity. What is surprising is that the Anglo-Saxon hegemons do not seem to understand that all the threats, sanctions, trade barriers, are provoking the contrary to what should contribute to American Greatness. Economic sanctions, in whatever form, are effective only as long as the world uses the US dollar for trading and as reserve currency.
Once the world gets sick and tired of the grotesque dictate of Washington and the sanction schemes for those who do no longer want to go along with the oppressive rules of the US, they will be eager to jump on another boat, or boats – abandoning the dollar and valuing their own currencies. Meaning trading with each other in their own currencies – and that outside of the US banking system which so far even controls trading in local currencies, as long as funds have to be transferred from one nation to another via SWIFT…
The Central Bank of Russia (CBR) has purchased 200,000 troy ounces (6 tons) of gold in May, boosting bullion reserves to 2,190 tons.
Russia increased its gold reserves by 0.3 percent in one month from May 1 to June 1, the central bank reported on Thursday. In May, the regulator held some 2,183 tons of the precious metal.
Moscow has been actively beefing up bullion reserves in order to reduce reliance on the US dollar and to diversify its foreign exchange reserves. Russia’s international reserves are highly liquid foreign assets comprising stocks of monetary gold, foreign currencies and Special Drawing Right (SDR) assets, which are at the disposal of the Central Bank of Russia and the government.
In the first 5 months of this year, Russia added 78 tons of gold to its coffers, increasing the precious metal’s share in its international reserves by 3.7 percent. Last year, the CBR bought some 274 tons of gold.
“I think what Russia is doing, or other central banks are recognizing, is that they need to increase their gold reserves because of the impending dollar crisis,” CEO of Euro Pacific Capital Peter Schiff told RT in May.
Allow me to repeat myself once again, Your Anglo-Zionist rogue-empire is falling, Mr and Ms Exceptional America: “The party’s over…”, “The fat lady has sung.”, “Bye Bye Miss American Pie…” Take your pick!
JP Morgan says dump US dollar as its century of global dominance coming to end
Published time: 24 Jul, 2019
The US dollar will struggle to remain the top international currency in the coming decades as the rising power of Asian economies is set to undermine its leading position, Wall Street bank JPMorgan Chase has predicted.
“The US dollar has been the world’s dominant reserve currency for almost a century,” the bank’s strategist Craig Cohen wrote in a report earlier this month.
However, we believe the dollar could lose its status as the world’s dominant currency…due to structural reasons as well as cyclical impediments.
Many other currencies came to their demise throughout history, thanks to shifts in global economic centers, which is now poised to move towards Asia, the strategist points out. While China’s accession to global superpower status is believed to be one of the factors of this shift, it’s not the only one.
The Asian economic zone as a whole (from the Arabian Peninsula and Turkey in the West to Japan and New Zealand in the East, and from Russia in the North and Australia in the South) accounts for two-thirds of global economic growth and 50 percent of global GDP. The growing purchasing power of the region will boost the number of non-dollar transactions, eroding the greenback’s reserve currency status and setting the grounds for its replacement as the dominant international currency, according to the bank.
“In other words, in the coming decades we think the world economy will transition from the US and US dollar dominance toward a system where Asia wields greater power,” JP Morgan concludes.
The only advice here, according to the bank, is to get rid of US dollar ‘overweights’ in investment portfolios and to diversify. While some banks are dumping the dollar in favor of the euro, others prefer a more stable source of value, gold.
As the looming shift is already being felt by some, the demand for the precious yellow metal was at its highest in almost half a century in 2018. Russia and China are leading the gold rush, having added 16 and seven tons respectively to their central bank holdings in May. Both Moscow and Beijing boosted their bullion reserves by more than 70 tons in the first five months of this year.