More News, Rumors and Opinions Wed. Afternoon 10-30-2024
MikeCristo8: US Treasuries are Being Recycled into Gold
Tuesday Oct. 29, 2024
I don’t think it’s a gold reset.
I think it’s a Commodities exchange are the real BRICS currency.
*SILVER
*PLATINUM
*COPPER
*PALLADIUM
Corn
Grain
Wheat
Soybean
The fiat system is collapsing. China is selling.
Basically mbridge just shut down the dollar through SWIFT. So the BIS is blocking non-dollar payments.
This is what the New Development Bank is for. To Override SWIFT.
Basically mbridge is blocking all dollars from flowing to the BRICS countries.
Mbridge was always going to be a tool to shut down the dollar in global finance. The BIS is just now figuring it out.
BRICS trade. It’s a barter system. You’re trading commodities & goods which can then settle with local currencies at an agreed upon change rate.
BRICS doesn’t have a bond market, don’t need one.
The G7 currencies will fail because the world is no longer trading credit.
This is important. U.S. Treasuries are being recycled into gold.
From @LukeGromen: "Gold has diverged v. oil, v. 10y US real rates, v. LT UST futures, v. western gold ETF inventories, and v. the USD, and yet western consensus continues to miss what is happening here: BRICS net surpluses [more than $780 billion in 2023] are being recycled into gold. How high will gold prices be when western consensus finally understands this?"
Janet Yellen is setting up the banks as the fall guy for when this goes down.
Bloomberg Markets: US Treasury Secretary Janet Yellen said that fraud in the banking system is becoming a huge problem
https://dinarchronicles.com/2024/10/29/mikecristo8-us-treasuries-are-being-recycled-into-gold/
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Walkingstick This base currency they are now teaching the Iraqi citizens about in the hybrid monetary plan is considered the domestic currency which is the IQD. In this case the lower notes that will be coming out. Base currency means the Iraqi dinar it is a first currency in a currency pairing...The IQD will be the dominant currency in Iraq and on the Forex due to its pairing. That step is the float to reach the real effective exchange rate.
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr Sammy [FRANK: Who runs one of the banks in Iraq] said all that is needed at this point is a new rate to push forward the remaining things. The budget has not been released yet but it will be. Then the HCL also needs to be voted and we need the Speaker of the House. All of these things are working together. To see that budget and the HCL we're going to need to see the Real Effective Exchange Rate. FRANK: The Real Effective Exchange Rate will come when it starts to float. That's part two of the 'hybrid monetary reform plan'. Part One is to give you purchasing power. I agree with Mr. Sammy...there are major events that are coming to an intersection that will collide with great force for your new exchange rate and currency.
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Fed Is ‘Too Powerful, Too Prominent, Too Political’, Why Dollar Needs Gold Link Back – Judy Shelton
Kitco News: 10-29-2024
Dr. Judy Shelton, former economic advisor to President Donald Trump and author of Good as Gold: How to Unleash the Power of Sound Money, warns that America’s growing debt and dependence on fiat currency could erode global trust in the dollar.
In an interview with Jeremy Szafron, Anchor at Kitco News, Dr. Shelton presents her bold vision for a financially stable America. She critiques Federal Reserve policies, pointing out that they have driven wealth inequality and fueled inflation. Dr. Shelton advocates for a return to sound money by restoring some link between the U.S. dollar and gold.
She explains how Treasury bonds convertible to gold could offer a solution and reinforce the dollar’s position as the global reserve currency.
00:00 - Coming Up
2:02 - Introduction: Good as Gold - How to Unleash the Power of Sound Money
6:32 - Dollar’s Decline
9:47 - Federal Reserve’s Power
17:22 - Fed Reform?
23:42 - Why Gold
29:17 - Lessons from the Past: Classic Gold Standard vs Bretton Woods
37:02 - Proposal Gold-Convertible Debt Securities
44:12 - De-Dollarization
52:27 - Inflation Target Debate
57:12 - Fiscal Responsibility
The Reverse Repo is Draining to Zero (finally)
Heresy Financial: 10-30-2024
IMECODES
0:00 Intro
0:08 Reverse Repo is Draining Again
1:24 What is the Reverse Repo Facility
4:48 T-Bills
5:53 The Fed Pivot
7:35 Federal Reserve Balance Sheet
10:43 What the Fed is Planning