Economist’s “News and Views” 11-4-2024
West Panic: China Takes Over mBridge, Saudi Oil For RMB Next, Gold Is Leaving London
Sean Foo: 11-4-2024
The Bank of International Settlements has officially dumped the Bridge project. This leaves China with near total control of the payments system opening up a ton of scary possibilities.
Oil trade in the Yuan could be next.
Meanwhile, central banks like India are escalating their gold repatriation. Here's what you must know.
Timestamps & Chapters:
0:00 West Dumps mBridge On China
2:41 The Petroyuan Risk Escalates
5:45 BRICS Giant Pulls Out Its London Gold
6:54 Sponsor: Indigo Precious Metals
8:18 Central Banks Want Their Gold Back
9:31 mBridge Dump Will Hurt US Assets
12:00 Exit Dollars, Enter Gold
THE STOCK MARKET. We Have TWO MAJOR PROBLEMS. And Either One Can Cause A MELTDOWN.
Greg Mannarino: 11-4-2024
World's Most Powerful & Secretive Financial Institution: What It's Done & Planning Next – Adam LeBor
Kitco News: 11-4-2024
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Adam LeBor, Author of 'Tower of Basel,' who dives into the history of the world's most influential and secretive financial institution.
The interview pulls back the curtain on the mysteries of the Bank for International Settlements (BIS) – the central bank of central banks. LeBor explains the BIS's controversial history from its inception to its role in global financial crises and its influence on modern banking regulations.
He also outlines the role gold plays. LeBor explains BIS's project mBridge, and its significance going forward, shedding light on the elusive bank's operations and the potential future shifts in the financial world.
00:00 Introduction: the BIS
04:38 History of the BIS & Its Role in Global Finance
09:42 The BIS's Headquarters & Immunities
21:26 The BIS's Controversial Past
37:06 The London Gold Pool & Gold Manipulation
42:17 The BIS & the Euro
45:24 Post-War European Economy & the BIS
46:21 Formation of the European Central Bank
48:01 The Euro and National Sovereignty
54:18 BIS's Role in Financial Crises
55:58 Gold and the Basel Accords
57:27 Project mBridge & CBDCs
01:09:24 Concerns Over CBDCs & Financial Control