This is the End of America's Financial Order and the Death of the Dollar
This is The End of America’s Financial Order & the Death of the Dollar
The Nomad Economist: 3-23-2022
The Death of The Dollar -- Is it The End of America’s Financial Order? - Economic Collapse -- Stock Market Crash
The purchasing power of a one dollar bill has dropped from 100 cents in 1913 to less than 4 cents today.
Money is a store of value. The Dollar is Not Money . Money is gold and Gold is Money .
Everyone in the upper echelon of global finance knows this. It's the let's-pretend-it-isn't-there heffalump in the vault. One such heffalump-aware influencer is Mark Carney. He is the outgoing Governor of the Bank of England and oft-times chairman of various old capitalism committees at the privately-owned Bank for International Settlements in Basel, Switzerland.
Carney also has a posing rôle on the G20’s Financial Stability Board and is an admirer of gold; particularly Asian gold. Speaking recently at a bankers' conference at Jackson Hole, Wyoming (USA), Mark Carney said that it may soon be time to junk the US dollar as the global reserve currency and move to something better; something which is less obviously toxic to global financial well-being.
Sometimes, apparently, it is OK to applaud a banker for offering a blinding glimpse of the obvious to close friends. A digital currency could dampen the domineering influence of the US dollar on global trade. A new international financial architecture would develop around the new digital currency.
This cryptocurrency would displace the dollar’s current dominance in credit markets. And reducing the influence of the US on the global financial cycle would help to reduce the volatility of capital flows to emerging market economies.
According to research conducted by the Bank of England in London, the USA now accounts for only 10% of world trade. Despite this, in 2019, over 70% of global GDP still uses the US dollar as an anchor currency (a reserve currency).
This is an absurd state of affairs in both geopolitical and geofinancial terms. Root-and-branch reform is urgently needed.
It is said that new systems are ready to run. Gold will be an important factor in the coming international changes. So will asset-backed cryptocurrencies.
Banksters abused the trust of the people and gambled in the stocks and derivatives, and lost trillions. Central banksters abused the trust of the people and created money out of thin air and gave to the banksters to keep them afloat.
Result: all the surplus produced in the past decade has been silently absorbed by these parasites, and still there is inflation. Now even a repudiation of the loans or a debt jubilee will not benefit those who have been bankrupted already.
The true power of the Dollar reserve currency is the political clout that it gives us , which makes everything economic possible. The same political clout has enabled the U.S. to put sanctions on anyone from Russia to Iran to Venezuela. It has allowed the U.S. to dominate the SWIFT and the world banking system.