New BRICS Financial Frameworks Pave the Way for Global Currency Reset

New BRICS Financial Frameworks Pave the Way for Global Currency Reset

Awake-In-3D    October 30, 2024

Alternative payment platforms, trade partnerships, and currency revaluations: BRICS is paving the way for a new global financial order.

Historical events often evolve in unexpected directions, allowing certain moments to become pivotal in shaping global events. The BRICS summit held in Kazan, Russia, did not immediately rewrite the financial order, but it undoubtedly marked a significant step in the transformation of the global financial landscape.

As the collective influence of BRICS—now expanding with new members—grows, the summit reflected the group’s increasing ambition to challenge Western financial dominance through the creation of alternative financial structures. This movement also signals an impending revaluation of currencies (RV) across multiple regions, aligning with the broader vision of a Global Currency Reset (GCR).

The Kazan summit demonstrated that BRICS, originally composed of Brazil, Russia, India, China, and South Africa, is no longer content with being a mere economic club. With the inclusion of 13 new members from Africa, Latin America, Central Asia, and Southeast Asia, BRICS is transforming into a platform that fosters a new financial framework, one that bypasses the restrictive conditions of the IMF and World Bank. This shift indicates that the BRICS coalition is establishing the foundation for global currency rebalancing, leveraging sovereign payment platforms, trade partnerships, and new financial infrastructures to reduce dependence on the Western-led financial order.

A Long Road to Financial Independence: The Battle Against IMF and World Bank Hegemony

One of the most important outcomes of the Kazan summit was the group’s commitment to wean the Global South off the IMF and World Bank. The BRICS digital investment platform was launched to facilitate funding for developing nations without imposing structural adjustment policies—policies that have long been criticized for perpetuating debt dependency and economic instability. Under the leadership of Dilma Rousseff, the New Development Bank (NDB) aims to offer an alternative financing mechanism that is not tied to Western political agendas.

This financial independence is crucial for nations seeking freedom from the conditionalities attached to IMF loans, which often force governments to adopt austerity measures that stifle economic growth. Additionally, the BRICS grain exchange promises to introduce transparent food trade practices, helping many Global South nations secure their food supply without relying on Western markets or being subject to unilateral sanctions.

However, achieving consensus on these difficult financial matters remains a challenge. The Kazan summit highlighted the complex political dynamics within the group, with Brazil’s veto of Venezuela’s membership drawing criticism from both members and partners. Despite such hurdles, the expansion of BRICS—with countries like Saudi Arabia, Nigeria, and Turkiye expressing serious interest—shows that momentum is building toward the creation of a new financial order and a Global Currency Reset.

The expanded BRICS+ coalition serves as a counterweight to Western financial dominance, opening the door for greater financial cooperation across regions. This is particularly relevant as the coalition pursues alternative currency frameworks, paving the way for currency revaluations (RVs) across multiple countries and supporting the Global Currency Reset.

The New Infrastructure for Global Currency Reset: BRICS Clear and Beyond

The BRICS nations are aware that shifting away from the US dollar’s hegemony will require more than diplomatic declarations. At the Kazan summit, there was significant discussion around BRICS Clear, a sovereign payment system designed to facilitate cross-border transactions using local currencies and digital instruments. This platform aims to reduce the reliance on SWIFT—the international payment network dominated by Western interests—and offers an opportunity for BRICS nations to experiment with currency diversification and gold-backed instruments.

While BRICS Clear and the NDB represent promising steps, the financial restructuring process will not happen overnight. The “UNIT” project—a concept discussed during the summit—envisions the creation of “apolitical money” anchored in a basket of BRICS currencies and gold reserves. Although still in development, such a framework serves as a model for countries seeking to protect their economies from currency volatility and external pressures.

When successfully implemented, these initiatives will initiate currency revaluations (RVs) across the Global South, reflecting the economic realities of a multipolar world rather than the interests of a single reserve currency, in alignment with the Global Currency Reset.

The expansion of BRICS to include strategic players like Saudi Arabia, Turkiye, and Indonesia brings additional financial weight to the coalition. Saudi Arabia, with its vast wealth and influence in the energy sector, could be a key player in stabilizing a new financial order. Russia and China’s mediation of disputes, such as the Ladakh normalization between China and India, also underscores the political cohesion necessary to sustain these financial ambitions.

The connectivity initiatives highlighted during the Kazan summit further demonstrate how geoeconomic integration can facilitate global currency rebalancing. Projects like the Northern Sea Route and the International North-South Transportation Corridor (INSTC) promise to enhance trade flows between Eurasia, Africa, and Asia, offering new pathways for economic cooperation without relying on Western trade routes. This increased connectivity may also facilitate regional currency settlements, strengthening the case for an eventual Global Currency Reset.

Challenges Ahead: Consensus and the Path to 2025

Despite the momentum generated by the Kazan summit, significant challenges remain. Achieving consensus among a diverse group of nations with different economic priorities will require diplomacy and flexibility. The disagreements within the Brazilian government—c****t between Western influence and BRICS ambitions—highlight the internal obstacles that the coalition must navigate.

Looking forward, the Rio G20 summit and Brazil’s BRICS presidency in 2025 will be key moments to assess the coalition’s progress. The timing of the next BRICS summit in July 2025—midway through the year—creates concern about the effectiveness of the group’s agenda-setting. However, a proposal to hold a wrap-up session at the 2025 G20 summit in South Africa could provide a more structured timeline for advancing BRICS’ financial goals.

As the BRICS coalition grows, its ability to reshape the global financial landscape depends on the successful implementation of alternative payment systems, financing platforms, and trade corridors. The Kazan summit demonstrated that the group is serious about moving beyond symbolic declarations toward creating tangible financial alternatives. Yet, the transition to a multipolar currency world will require patience, innovation, and political will.

The Bottom Line: The Emergence of a Global Currency Reset?

The BRICS summit in Kazan did not mark an immediate financial revolution, but it set in motion a process that could reshape the global financial order over the coming years. With new members, alternative payment systems, and expanded trade networks, the BRICS coalition is preparing to challenge the dominance of Western financial institutions. Platforms like BRICS Clear and the NDB demonstrate that currency rebalancing and financial independence are now serious priorities for the coalition.

As the world moves toward a multipolar economic future, the success of BRICS will depend on its ability to maintain unity and create sustainable financial alternatives for its members and partners. If the coalition can overcome internal challenges and continue building on the momentum from Kazan, it is poised to play a leading role in the Global Currency Reset that many have anticipated. For now, the high-speed, multi-nodal train toward a new financial order has left the station—and the Global South is onboard.

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New BRICS Currency and Increasing Western Sanctions is a Global Reset in Progress

New BRICS Currency and Increasing Western Sanctions is a Global Reset in Progress

Awake-In-3D October 18, 2024

With sanctions accelerating de-dollarization, BRICS nations are leading efforts to restructure the global financial order.

As the global financial landscape continues to transition, the new BRICS currency initiative emerges as a formidable challenge to the U.S. dollar’s dominance.

In response to geopolitical tensions and sanctions, nations are seeking alternatives to dollar-based trade, with BRICS countries leading the charge toward a new gold-backed financial system.

With gold prices surging past $2,700 per ounce, this transformation could realign the global economy and spark the long-discussed Global Currency Reset (GCR).

The question now is whether the upcoming BRICS summit will mark the dawn of a new era in international finance, reshaping the balance of power from West to East.

Sanctions, De-dollarization, and the Birth of Alternative Financial Systems

Western sanctions against Russia, following its 2022 conflict in Ukraine, triggered a series of unintended consequences, forcing targeted countries to explore financial alternatives beyond the U.S.-dominated system.

These sanctions effectively cut Russia off from global markets tied to the dollar-based SWIFT network, compelling it to strengthen economic partnerships with China, India, and other BRICS nations. In response, Russia has begun settling transactions in Chinese yuan and other local currencies, adding further momentum to de-dollarization efforts.

The consequences of these developments go beyond the BRICS members. Other nations—particularly those wary of Western influence—have taken notice. The U.S. dollar’s use as a geopolitical tool has raised concerns about economic sovereignty, fueling interest in establishing a new global reserve currency.

This evolving landscape hints at a recalibration of the global economy, a key hallmark of the GCR, where the structure of international finance is realigned to reflect the interests of more players than just the West.

The New BRICS Currency: A Challenge to Dollar Dominance?

Rumors of a new BRICS currency, reportedly 40% backed by gold and 60% by a basket of member-state reserves, have attracted significant global interest ahead of the BRICS summit in Kazan, Russia, on October 22-24. Although experts predict that a formal unveiling is unlikely at this meeting, the discussions alone indicate that the world is moving toward a future where the U.S. dollar will no longer reign supreme.

This shift aligns closely with the Global Currency Reset (GCR), a process that seeks to restructure the global monetary system and diversify away from a single currency’s dominance.

In recent years, central banks worldwide have increased their gold reserves, viewing the precious metal as a hedge against inflation and geopolitical instability. With gold prices now hovering around $2,700 per ounce, many believe that asset-backed currencies will play a key role in the future financial system—an idea long associated with the GCR movement.

A new BRICS currency could set off a chain reaction of currency revaluations (RV) across the globe. If the proposed currency is anchored by tangible assets like gold, it compels other countries, including those in the West, to revalue their own currencies to remain competitive in global trade.

Such a move would mark the most significant shift in international monetary policy since the collapse of the Bretton Woods system in the 1970s.

The U.S. Dollar’s Waning Influence

While the U.S. dollar still accounts for 84% of global trade transactions, its dominance is eroding due to several factors, including the rise of the Chinese yuan. China has successfully positioned its currency as an alternative to the dollar, particularly in oil markets, through initiatives like the petroyuan.

As energy trade—a key pillar of the dollar’s dominance—diversifies, BRICS countries have an opportunity to reduce their reliance on the dollar even further. Notably, Saudi Arabia has expressed interest in settling oil transactions in yuan, marking a potential end to the petrodollar era. If the BRICS currency materializes, it will likely prompt other countries to recalibrate their financial policies and accelerate the shift toward a multipolar financial system, as envisioned in the GCR.

Geopolitical Implications of the GCR and RV

A successful launch of a BRICS currency will likely prompt other countries to recalibrate their currency policies. With gold serving as the backbone for the new financial system, currencies across the globe must undergo revaluation (RV) to maintain credibility and parity in international trade. This process would mark a historic shift in monetary policy, requiring nations to shift their focus from debt-backed fiat currencies to tangible, asset-backed reserves.

India, an influential BRICS member, faces a critical decision point. While it remains committed to deep economic ties with the U.S., it also recognizes the benefits of participating in the GCR movement and supporting a new global reserve currency. India’s balancing act reflects the complexities involved in a new world order where economic and geopolitical interests are often in conflict.

The Bottom Line: The New BRICS Currency is a Path Toward a New Global Financial Order

The rise of a BRICS currency—combined with growing geopolitical tensions, sanctions, and the search for financial alternatives—suggests that the world is approaching a Global Currency Reset. The potential decline of the U.S. dollar’s dominance signals not only a change in how global trade is conducted but also a shift toward revaluation of currencies based on tangible assets. While the future trajectory remains uncertain, one thing is clear: the financial system of tomorrow will not look like the system of today.

The upcoming BRICS summit is unlikely to deliver the final blueprint for a new global currency, but it will certainly push forward the conversation about how the world’s economic future will be shaped. With precious metals playing a key role in this transition, the competition for currency dominance is just beginning—ushering in an era where gold, not fiat, will likely decide the balance of power.

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Saudi Gold Accumulation: Preparing for Currency Revaluations and Dollar Decline

Saudi Gold Accumulation: Preparing for Currency Revaluations and Dollar Decline

Awake-In-3D October 18, 2024

Recent and secretive Saudi gold accumulation aligns with a growing global trend, fueling expectations of an imminent currency reset.

The global financial landscape can feel like a never-ending puzzle, but one thing is becoming increasingly clear – the secretive Saudi gold accumulation hints at something big on the horizon.

As the kingdom stockpiles gold and shifts away from traditional dollar-based systems, we are left wondering: Are we on the verge of a Global Currency Reset?

We should certainly keep tabs on how Saudi Arabia’s gold strategy aligns with emerging financial trends, what it could mean for currency revaluations, and how these developments might reshape the world’s financial order.

A New Chapter in Global Monetary Policy

Historically, Saudi Arabia has played a critical role in upholding the global dollar-based financial framework. Its long-standing adherence to pricing oil exclusively in U.S. dollars since the 1970s secured the petrodollar system, reinforcing the dollar’s dominance.

However, Saudi gold accumulation reveals alignment with a broader de-dollarization movement and indicates preparations for a potential global financial reset.

Saudi Arabia’s gold strategy, similar to that of China and other Asian nations, reflects a departure from traditional market practices. Rather than adjusting gold imports based on market fluctuations, the Saudis continue acquiring reserves despite rising prices.

This accumulation suggests deliberate preparations for future currency revaluations or even the collapse of the current dollar-dominated financial system.

Gold’s Role in Currency Revaluations

The steady progress of Saudi gold accumulation positions the kingdom to benefit from currency revaluations (RV).

With fiat currencies under increasing scrutiny, gold offers a neutral, sanction-resistant asset. If Saudi Arabia or other nations realign their currencies with gold, exchange rate systems could shift dramatically. This would not only bolster the national currency but could also pave the way for asset-backed monetary frameworks, reshaping international trade.

Saudi Arabia’s focus on accumulating gold feeds speculation about new monetary structures. Tying the riyal more closely to gold would ripple across oil-exporting nations reconsidering their reliance on the U.S. dollar.

This aligns with the larger Global Currency Reset (GCR), where currencies could be revalued or backed by physical assets, weakening the influence of fiat systems.

The Geopolitical Context Behind Saudi Gold Accumulation

Saudi gold accumulation aligns with a growing trend among nations adjusting their reserve strategies due to geopolitical risks. After the West froze Russia’s foreign reserves in early 2022, many countries, wary of similar actions, turned to gold. China, Thailand, and now Saudi Arabia are expanding their physical reserves to safeguard against economic manipulation.

Discrepancies between reported gold purchases and actual trade flows further highlight Saudi Arabia’s hidden acquisitions. Data from the World Gold Council (WGC) and the International Monetary Fund (IMF) indicate rising central bank gold buying—often without public disclosure. SAMA seems to be quietly funneling gold into reserves while avoiding direct confrontation with the U.S., ensuring a strategic safety net for upcoming currency realignments.

What the Global Currency Reset Could Mean for Saudi Arabia

Saudi gold accumulation suggests the kingdom is preparing for a future in which currencies are backed by tangible assets. This move aligns with discussions surrounding a potential Global Currency Reset (GCR). In this scenario, national currencies with substantial gold reserves could be revalued, challenging the dominance of the U.S. dollar.

Saudi Arabia’s gold reserves not only secure economic stability but also place the kingdom in a powerful position to influence the evolving financial order. A currency revaluation could involve pegging the riyal to gold or transitioning to an oil-backed currency, compelling other nations to adopt similar measures. As more countries diversify into asset-backed currencies, the realization of a GCR becomes increasingly likely.

Oil, Gold, and the Decline of the Dollar

Saudi Arabia’s influence in both the oil and gold markets represents a significant challenge to the dollar’s status as the global reserve currency. As more countries adopt gold-backed reserves and consider alternatives to the petrodollar, the global financial system faces mounting pressure. Saudi gold accumulation mirrors similar strategies among Asian nations, such as China, in what appears to be a coordinated effort to diminish the dollar’s dominance.

By strategically increasing its gold reserves, Saudi Arabia is signaling a pivot toward a financial framework where precious metals play a foundational role. Whether through currency revaluations or a full-scale Global Currency Reset, these developments are set to reshape the global financial system, giving gold-rich nations a leading role in the emerging order.

The Bottom Line

Saudi Arabia’s covert gold purchases underscore the kingdom’s preparations for a financial future centered around tangible assets, diminishing the U.S. dollar’s influence. As nations continue shifting their reserves from fiat to gold, a Global Currency Reset (GCR) may soon realign global exchange rates and trigger currency revaluations (RV).

Through persistent Saudi gold accumulation, the kingdom positions itself as both a catalyst and beneficiary of this transformation. Whether it introduces a gold-backed riyal or plays a strategic role in shaping a multi-polar currency framework, the kingdom is clearly preparing for life beyond the dollar.

With 160 tonnes of gold already added to its reserves—and likely more on the way—the nation stands ready for whatever financial reset lies ahead.

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Rising BRICS Gold Reserves Could Trigger Worldwide Currency Revaluation (RV)

Rising BRICS Gold Reserves Could Trigger Worldwide Currency Revaluation (RV)

Awake-In-3D  October 18, 2024

BRICS countries are positioning themselves to redefine currency values across the globe by building massive gold reserves.

BRICS Gold Purchases Signal Global Financial Realignment

Over the past two years, BRICS nations—particularly China—have increased their gold holdings, collectively purchasing thousands of tons. China alone holds over 2,800 tons, with other member states following closely. Analysts increasingly suggest these BRICS gold purchases go beyond hedging against inflation, indicating a strategy to reshape the global financial order.

By reducing US Treasury bond holdings and dollar reserves, the BRICS bloc is building a multilateral financial framework to diminish the dollar’s influence. This strategy is not just about economic security; it lays the foundation for a more substantial financial transformation.

The Multilateral Shift: BRICS Gold and the Decline of Dollar Influence

The development of the BRICS mBridge payment system plays a central role in this shift. Designed to promote trade using local currencies and gold, it provides a practical alternative to SWIFT, the US-dominated financial messaging system.

With BRICS nations moving toward gold-backed trade, they reduce exposure to currency volatility and economic sanctions. This transition aligns with the concept of a Global Currency Reset (GCR), which envisions a financial system built on asset-backed standards, reducing reliance on fiat currencies.

The New UNIT Stablecoin and Currency Revaluation Outlook

The BRICS bloc is also developing the UNIT stablecoin, a digital currency backed by 40% gold and 60% BRICS currencies, all convertible to gold. The UNIT could serve as a catalyst for currency revaluation (RV), offering a new valuation standard tied to tangible assets.

Currency revaluation involves adjusting exchange rates to reflect a currency’s true value in the global economy. The transparency and stability offered by the UNIT may prompt other nations to realign their currencies with gold-backed models, reducing volatility and restoring financial trust.

How the Global Currency Reset (GCR) Could Unfold

The introduction of the UNIT and the BRICS mBridge platform signals a shift toward a new global financial system. Several key developments may shape the unfolding of the GCR:

1. Gold-Backed Valuation Model
   Currencies linked to gold-backed systems will see their exchange rates recalibrated to reflect real asset values, driving revaluations worldwide.

2. Diversification from the Dollar
   As more nations adopt gold-backed currencies, the decline in dollar reserves will lower the dollar’s value, encouraging others to redefine their exchange rates independently.

3. Regional Currencies Anchored to Gold
   Countries outside the BRICS framework may restructure their currencies around gold-backed standards, creating a new global exchange rate system based on tangible assets.

4. Impact on Developing Nations
   Emerging economies could benefit from joining the BRICS payment system, aligning their currencies with gold-backed models. This shift may trigger revaluations, reducing dependency on the dollar and increasing financial autonomy.

Challenges and Future Implications

The transition to a new financial system presents challenges. Resistance from countries heavily invested in the dollar-based system is expected, and the rollout of the UNIT and the BRICS mBridge must be carefully managed to avoid disruptions.

Geopolitical risks are also likely, as the US and its allies may respond with sanctions or other economic measures to defend the dollar’s dominance. However, with the BRICS bloc accounting for over 37% of global GDP, efforts to halt this shift may not be sufficient to stop the momentum toward de-dollarization.

The Bottom Line: A Period of Economic Realignment

The accumulation of BRICS gold reserves and the development of a gold-backed financial system mark the beginning of a global economic shift. As the group advances the UNIT stablecoin and the BRICS Bridge payment platform, the financial system is poised for a Global Currency Reset (GCR).

This reset will likely result in currency revaluations (RV) worldwide, as nations adopt gold-backed standards for greater financial stability and independence from the dollar. Though challenges remain, the BRICS gold-backed strategy represents the rise of a multipolar financial order that will redefine global trade, finance, and currency valuation.

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Awake-In-3D: Trade Wars and Sanctions Now Setting Us Up for the Biggest Collapse in History

Trade Wars and Sanctions Now Setting Us Up for the Biggest Collapse in History

Awake-In-3D   October 9, 2024

Are we repeating the mistakes that led to the Great Depression and World War II?

This article explains how past economic disasters, like what happened in Germany after World War I, can help us understand what’s happening in the world today. By looking at how trade issues, financial penalties, and economic crises led to radical political changes back then, we can see similarities with today’s global economy.

The purpose is to show how history is repeating itself and why we may be heading toward the biggest financial collapse in human history if things continue the way they are.

The study of past economic collapses offers invaluable insights into the forces that drive economies toward disaster. The rise of fascism and Adolf Hitler’s ascent in Germany is a powerful case study, showing how trade disputes, economic sanctions, and financial instability can shape world events.

If we don’t learn from this history, we risk repeating it—and many signs suggest that we are on the brink of another unprecedented financial crisis.

US President Joe Biden recently announced a significant rise in tariffs for Chinese imports, including electric vehicles (EVs) and solar panels. One of the most significant steps is the decision to raise duties on Chinese electric vehicles to 100 percent.

The Role of Economic Sanctions and Trade Disputes in Historical Collapses

Economic sanctions, trade disputes, and punitive measures have long been used to isolate nations. In post-World War I Germany, these tools played a direct role in driving the country to financial ruin.

The Treaty of Versailles demanded massive reparations from Germany, strangling its economy and blocking any real recovery. The inability to trade internationally compounded the problem, leaving Germany cut off from vital markets and resources.

As economic isolation intensified, inflation spiraled out of control, wiping out savings and deepening poverty. Germans faced severe unemployment and social unrest, making them receptive to extremist ideologies.

Hitler seized on these conditions, using the widespread economic misery to gain support. The lesson here is clear: economic collapse can open the door to radicalism, and today’s growing trade wars and sanctions could create similar conditions.

How the Treaty of Versailles Enabled Radicalism in Germany

The Treaty of Versailles humiliated Germany economically, with reparations and territorial losses that crippled the nation’s ability to function. In the years following World War I, Germans watched their currency become worthless.

Children playing with worthless German currency and a cart full of marks could not buy a daily meal in 1930

By the time the Great Depression hit in 1929, Germany was relying on foreign loans—especially from the U.S.—to stabilize its economy. When those loans dried up, Germany’s economy collapsed once again.

The collapse of international trade and financial support left Germany in an even worse position. Mass unemployment and desperation became the norm. In this climate, Hitler’s Nazi Party rose, offering promises to rebuild the economy, restore pride, and make Germany powerful again.

This is eerily similar to the struggles many countries face today, where economic hardship is driving people to seek out extreme solutions and political figures who promise to fix everything.

Parallels Between the Great Depression and Today’s Financial Risks

The Great Depression serves as an important reminder of how quickly global economies can unravel. When the U.S. stock market crashed in 1929, it triggered a worldwide financial collapse.

After 2,000 jobs were made available for park improvements, about 5,000 unemployed people gathered outside City Hall in Cleveland, Ohio, in 1930 during the Great Depression. (AP Photo)

Countries like Germany, already weakened by debt and trade restrictions, plunged into a deeper crisis. Protectionist policies and tariff wars, like the U.S. Smoot-Hawley Tariff, only worsened the situation by choking off global trade.

Fast forward to today, and we see similar warning signs. Global tensions, trade wars, and massive debt levels are putting immense pressure on economies. Inflation is surging, supply chains are breaking down, and many people are struggling to make ends meet.

Just as in the 1930s, these financial pressures are creating a fertile environment for social and political unrest. Many fear that the world is again teetering on the edge of a catastrophic economic collapse.

What History Teaches Us About the Coming Financial Disaster

The history of economic crises shows us that they often follow predictable patterns. Trade disputes, financial isolation, and economic sanctions create the conditions for collapse.

Germany in the 1930s offers a blueprint for what can happen when economic pressure drives a society to desperation. And today’s world looks dangerously similar.

Countries around the globe are facing rising inflation, trade conflicts, and unsustainable levels of debt. The gaps between the wealthy and the poor are widening, and the middle class is being squeezed.

As in the past, when economic conditions deteriorate, people begin searching for drastic solutions, often turning to radical movements or leaders who offer simple answers to complex problems. If the current trends continue, the world could be headed for the greatest financial disaster in history.

The Bottom Line

The economic collapse of post-World War I Germany and the Great Depression offer crucial lessons for understanding the looming financial disaster we face today.

Rising trade tensions, economic sanctions, and the strain on global economies all point to a similar outcome. If we don’t understand the past, we risk repeating it—and this time, the stakes are even higher.

Prepare for the worst, because the next global collapse may be unlike anything the world has ever seen.

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Iraq Now Moving Backwards in Battle to Strengthen the IQD

Iraq Now Moving Backwards in Battle to Strengthen the IQD

Awake-In-3D   August 22, 2024

Iraq’s struggle to stabilize the dinar worsens as growing reliance on dollars, rising imports, and inflation risks signal a shift in the wrong direction.

Iraq is facing serious financial challenges as it tries to reduce its dependence on the U.S. dollar and strengthen its own currency, the Iraqi Dinar (IQD). Despite efforts from the government and the Central Bank, Iraq is relying more on the dollar than ever before.

This makes it harder for the country to build a stable economy. Instead of improving the value of its own money, Iraq’s economy is moving in the wrong direction. By printing more dinars and buying record amounts of dollars, the country risks weakening its currency and becoming more dependent on foreign markets.

What you will learn reading this article:

• Why Iraq’s increasing purchases of U.S. dollars signal deeper economic issues

• How issuing more Iraqi dinars is weakening the currency and fueling inflation risks

• The impact of rising foreign currency transfers on Iraq’s dependency on imports

• Why current economic policies are falling short of creating long-term stability for Iraq’s economy

Iraq is struggling to gain control over its currency as its reliance on the U.S. dollar grows. Despite efforts by the Central Bank of Iraq (CBI) to strengthen the IQD and reduce dependence on foreign currency, the country’s economic strategy appears to be faltering.

Recent financial activities suggest that Iraq is moving backward in its quest for economic independence, raising concerns about the future of the nation’s financial stability.

Record-Breaking Dollar Purchases Signal Alarming Economic Trends

One of the clearest signs of Iraq’s deepening economic troubles is the Central Bank’s substantial purchases of U.S. dollars. In July 2024, the Central Bank of Iraq bought an unprecedented $9.6 billion worth of dollars from the Ministry of Finance, marking a record high since such transactions began in 2003. The trend is not confined to a single month either; in 2024, monthly purchases of U.S. dollars have averaged $5.9 billion.

This pattern of heavy reliance on the dollar is driven largely by the government’s growing expenditure, which requires more Iraqi dinars to fund its operations. As the government spends more, it turns to the dollar to keep the economy running. However, these purchases erode the strength of the IQD, pushing Iraq further from its goal of economic sovereignty.

Issuance of More Iraqi Dinars Weakens Its Value

To meet the Ministry of Finance’s financial needs, the Central Bank has issued more Iraqi dinars, but this strategy is creating new problems. Printing more dinars risks oversupply, which weakens the currency and threatens to fuel inflation. Historically, Iraq has struggled with inflationary pressures, and the current influx of newly minted dinars could reignite those issues.

Rather than stabilizing the currency, this approach is diluting the dinar’s value, putting Iraq in an even more precarious position. Instead of fostering a strong IQD, the country is becoming increasingly dependent on foreign currency reserves, predominantly U.S. dollars, to maintain its financial balance.

Rise in Foreign Currency Transfers Highlights Dependency on Imports

Another backwards trend is the rise in foreign transfers of U.S. dollars, which surged by 99% in recent months, reaching over $264 million in a single auction. The Central Bank uses these transfers to pay for imports and settle international accounts. The spike in foreign transfers is evidence of Iraq’s reliance on international markets to meet domestic needs.

This dependence on foreign goods and services weakens the IQD and diminishes the prospects of building a robust domestic economy. Each dollar sent abroad is a reminder of Iraq’s continued dependence on foreign markets, making it increasingly difficult to achieve economic independence.

Economic Policies Fall Short of Long-Term Stability

While the Central Bank has made efforts to ease the process for private banks to transfer money overseas, these policy changes are far from a solution. Such measures may keep imports flowing and help Iraqi banks pay international suppliers, but they fail to address the core issues plaguing Iraq’s economy.

The real problem lies in the country’s dependence on the U.S. dollar and its lack of a comprehensive strategy for strengthening the IQD. Unless Iraq shifts its focus to long-term growth and economic independence, these short-term policy changes will only provide temporary relief without resolving the underlying challenges.

Supporting Sources:

• Alforat News Iraq-Article 1

• Alforat News Iraq-Article 2

• Alforat News Iraq-Article 3

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Awake-In-3D: When Will the RV/GCR Happen?

When Will the RV/GCR Happen?

On August 17, 2024 By  Awake-In-3D

Endgame GCR Podcast Episode 4

What you will learn in this episode:

• What is Japan’s Economic Influence on Current Financial System?

• What are the Signs of the Fiat Currency System’s Collapse?

* Why Inflation is a Key Driver of Fiat Financial System Weakness

• How Carry Trades Create Global Financial System Instability

• The Problem With Central Bank Interest Rate Manipulation

• Why Demand for Commodities and Precious Metals is Related to the RV/GCR

• What Will Happen if the United States Begins Buying Gold?

• Why the New BRICS Gold-Backed Financial System is Important

• The Revaluation of Currencies Amid a Fiat Financial System Collapse

• Rejecting the “Shotgun” GCR/RV Event Narrative

• What are the Key Indicators to Watch in the Coming Financial Collapse?

In this episode, the focus is on answering the central question: “When will the Global Currency Reset (GCR) and the Revaluation of Currencies (RV) happen?” It becomes clear that the RV/GCR will align with the collapse of the global fiat currency system. This sets the stage for the discussion, which explores current financial events that are leading towards this shift.

What is Japan’s Economic Influence on Current Financial System?

We look at Japan’s recent economic instability and how it affects the global financial landscape. Japan’s interest rate hikes and market volatility are early signs of a broader shift. Given Japan’s role as the fourth-largest economy and its status as a key reserve currency, its actions have a significant impact on the future of the global financial system.

What are the Signs of the Fiat Currency System’s Collapse?

Key indicators of the impending collapse of the fiat currency system are examined. The idea that the collapse will unfold “slowly at first, then all of a sudden” is discussed. The gradual breakdown of the fiat system is directly linked to the eventual realization of the GCR and RV, making it essential to track these developments.

Why Inflation is a Key Driver of Fiat Financial System Weakness

Inflation is identified as one of the main factors weakening the fiat currency system. It is described as a hidden tax that reduces the purchasing power of currencies around the world. This episode points out that inflation is unique to fiat systems and accelerates their collapse, driving up the cost of goods and services.

How Carry Trades Create Global Financial System Instability

There’s a detailed exploration of the carry trade, particularly between Japan and the US. The way investors profit from borrowing in low-interest countries and investing in higher-interest markets is explained. The unwinding of the carry trade is recognized as a key indicator of financial instability and is a sign of bigger disruptions to come.

The Problem With Central Bank Interest Rate Manipulation

We take a closer look at how central banks around the world manipulate interest rates in an attempt to manage inflation. These adjustments are contributing to a global recession and could even lead to a depression. The manipulation of interest rates plays a significant role in weakening the fiat system and preparing for its collapse.

Why Demand for Commodities and Precious Metals is Related to the RV/GCR

The episode also addresses the growing global demand for commodities, especially gold, silver, and other industrial metals. More individuals and central banks are diversifying into precious metals to safeguard against future instability. The increasing purchases of gold by central banks are a clear signal that they are preparing for the collapse of fiat currencies and the transition to a gold-backed system.

There’s further discussion on how central banks are using gold as a hedge against the coming collapse of the fiat system. Despite what is said publicly, their ongoing accumulation of gold shows that they are preparing for a post-fiat world where gold-backed systems will dominate.

What Will Happen if the United States Begins Buying Gold?

The episode emphasizes the unique position of the US dollar as the world’s reserve currency, being used in over 80% of global transactions. Speculation arises over what would happen if the US started buying gold, which would signal a loss of confidence in the dollar and likely cause panic in global markets.

Why the New BRICS Gold-Backed Financial System is Important

The discussion also explores the efforts of BRICS nations to create an alternative gold-backed financial system. This system could challenge the dominance of the US dollar and potentially force the Federal Reserve to adopt a similar gold-backed approach. Such a shift would create significant changes in the global financial landscape.

The Revaluation of Currencies Amid a Fiat Financial System Collapse

As the fiat currency system collapses, opportunities for currency revaluation (RV) are expected to emerge. This transition will likely happen gradually, with the RV being part of a larger shift towards a gold-backed system.

Rejecting the “Shotgun” GCR/RV Event Narrative

There’s a clear rejection of the idea of a sudden, global “shotgun” GCR/RV event. Instead, the transition is expected to be gradual, with notifications and preparations required from governments and central banks. An overnight switch is deemed unrealistic, and a step-by-step process is considered far more likely.

What are the Key Indicators to Watch in the Coming Financial Collapse?

The episode concludes by recapping the five key indicators that signal the collapse of the fiat system and the opportunity for currency revaluation: inflation, interest rates, carry trade unwinding, central bank gold purchases, and the US dollar’s position as the world reserve currency. These factors provide a roadmap for understanding and tracking the impending shifts in the financial system.

Approximate Time Markers For Each Topic

0:00 – Introduction to the GCR and RV Timeline
2:00 – Japan’s Economic Influence on Global Finance
6:00 – Signs of the Fiat Currency System’s Collapse
9:00 – Inflation as a Key Driver of Fiat System Weakness
13:00 – The Carry Trade and Its Role in Global Financial Instability
19:00 – Central Bank Interest Rate Manipulation
23:00 – Increasing Demand for Commodities and Precious Metals
27:00 – Gold Purchases as a Hedge Against the Fiat Collapse
30:00 – The US Dollar as the World’s Reserve Currency
33:00 – The BRICS Gold-Backed Financial System
36:00 – The Revaluation of Currencies Amid the Fiat System Collapse
39:00 – Rejecting the “Shotgun” GCR/RV Event
43:00 – Key Indicators to Watch for the Coming Collapse

Podcast Links:

Endgame GCR Episode 4 on Rumble

Endgame GCR Episode 4 on YouTube

© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog
Join my Telegram Channel to comment and ask questions here: GCR_RealTimeNews
Follow me on Twitter: @Real_AwakeIn3D

https://ai3d.blog/when-will-the-rv-gcr-happen/

https://www.youtube.com/watch?v=Eqfa12rI6LU&feature=youtu.be

Global Currency Reset: Record Bank Gold Buying Happening Now

Global Currency Reset: Record Bank Gold Buying Happening Now

On August 13, 2024  By Awake-In-3D

Central Banks Are Stockpiling Gold Like There is No Tomorrow as They Prepare for a Global Currency Reset

As economies around the world face challenges like rising debt and inflation, I think we can all agree that we’re on the verge of a significant financial system shift—a “global currency reset.”

In recent years, there’s been a growing sense that the current global financial system, which relies heavily on paper money (or fiat currencies), is clearly on its path to a logical conclusion in the form of a worldwide systemic crash.

This means that countries will move away from relying solely on traditional fiat currencies like the U.S. dollar and instead turn to something real, like gold, to back their currencies.

To prepare for this possible reset, central banks in various countries have been buying large amounts of gold. They see gold as a safe and reliable asset that can protect their economies if the value of paper fiat currency falls.

This article will explore why central banks are making these moves and what it means for the future of our financial system.

In This Article:

1. Record Gold Purchases by Central Banks in 2024 Signal Preparation for a Global Currency Reset

2. Key Factors Driving Central Bank Gold Accumulation

3. How Gold Will Anchor a Global Currency Reset

4. The Global Economic Impact of Central Banks’ Gold Strategy

As concerns about the stability of the global fiat currency system grow, central banks around the world are aggressively purchasing gold.

By mid-2024, these purchases had set a new record, indicating preparations for an impending global currency reset.

Central banks added a net 483 tons of gold in the first six months of the year, reflecting a strategic move towards gold as a hedge against the risks of the current financial system.

Record Gold Purchases by Central Banks in 2024 Signal Preparation for a Global Currency Reset

Central banks globally have been on a gold-buying spree in 2024, with a net addition of 483 tons in the first half of the year.

This surge represents a 5 percent increase from the previous record of 460 tons set in the first half of 2023. Despite a slight slowdown in the second quarter, central banks bought 183 tons of gold during this period, a figure that remains historically high.

This activity is largely driven by concerns over a potential global currency reset, as trust in the fiat currency system continues to erode.

Key Factors Driving Central Bank Gold Accumulation

The concept of a global currency reset is gaining traction as central banks increasingly view gold as a safeguard against the vulnerabilities of the current financial system.

Countries like China, India, and Turkey have significantly increased their gold reserves, reflecting their strategic intent to diversify away from fiat currencies, particularly the U.S. dollar. China, which paused its official gold purchases in May and June, is speculated to be acquiring gold off the books, contributing to the demand.

This move aligns with broader concerns about the sustainability of the fiat currency system and the potential for a financial reset anchored by gold.

How Gold Will Anchor a Global Currency Reset

The possibility of a global currency reset is prompting central banks to accumulate gold, positioning it as a key element in a new financial system.

With the fiat currency system showing signs of strain—exacerbated by high levels of debt and inflation in major economies—gold is being viewed as a stable alternative. Poland, for instance, has made significant strides to increase the share of gold in its total reserves to 20 percent.

This strategy reflects a broader trend where central banks are preparing for a possible transition to a gold-backed system, which could offer more stability in a rapidly changing economic landscape.

The Global Economic Impact of Central Banks’ Gold Strategy

The strategic accumulation of gold by central banks is a clear indicator that a global currency reset is on the horizon.

The World Gold Council’s recent survey reveals that nearly 30 percent of central banks plan to add more gold to their reserves over the next 12 months. This widespread interest in gold underscores its value in a future where fiat currencies may no longer hold any level of trust.

As central banks continue to stockpile gold, the global economy will witness a significant shift towards a system where gold plays a central role, altering the dynamics of international trade, investment, and monetary policy.

The Bottom Line

The record-setting gold purchases by central banks in 2024 highlight a growing consensus that the global fiat currency system is approaching its end.

As fears of a global currency reset mount, central banks are turning to gold to protect their economies. This trend suggests that gold will soon become the cornerstone of a new financial system, reshaping the global economic order in profound ways.

Supporting Article:

• https://www.linkedin.com/pulse/central-banks-appetite-gold-hasnt-been-satisfied-money-metals-de9je/

• https://www.moneymetals.com/news/2024/08/05/central-bank-gold-buying-through-first-half-of-2024-sets-record-003358

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© GCR Real-Time News

Visit the GCR Real-Time News website and search 100’s of articles here: Ai3D.blog

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Top 10 Reasons We’re Now Facing a Global Financial System Crash

Top 10 Reasons We’re Now Facing a Global Financial System Crash

On August 13, 2024  By Awake-In-3D

The evidence is clear—You won’t believe how close we are to the largest collapse in history

We’re standing on the edge of an financial system crash, and may people don’t even realize it. Yet!

The signs are all around us—record government spending, mounting consumer debt, and major corporations hoarding cash like never before.

Even the world’s biggest economies, like the U.S., Japan, and Germany, are struggling to keep their heads above water.

This article breaks down the top 10 reasons why we’re facing what could be the worst financial crash in history.

I’m going to walk you through what’s happening, why it’s happening, and what it means for all of us.

In This Article

1. The Top 10 Reasons the Global Financial System Crash is on Our Doorstep

2. Government Spending: The Core of this Financial System Crash

3. Central Bank Policies Causing Unprecedented Market Distortions

4. Consumer Financial Behavior as a Warning Sign of the Approaching Financial System Crash

5. Global Economic Indicators Pointing to a Deepening Crisis

The global financial system is facing a financial system crash of unprecedented scale. With three of the five largest economies heading towards economic catastrophe, the risks are mounting.

The Top 10 Reasons the Global Financial System Crash is on Our Doorstep

Here’s a logical progression of the top 10 reasons we are in a global recession, followed by an economic depression and then the grand finale, a complete financial system crash:

1. Unsustainable Government Spending: U.S. government spending as a percentage of GDP is nearing historic levels, creating a precarious fiscal situation.

2. Skyrocketing Consumer Debt: U.S. credit card debt has reached record highs, with interest rates at unprecedented levels, mirroring unsustainable government financial practices.

3. Distorted Central Bank Policies: The Bank of Japan’s excessive ownership of ETFs and government bonds has caused significant market distortions, leading to instability.

4. Massive Insider Stock Sales: U.S. executives are selling off stocks at the fastest pace in over a decade, signaling a lack of confidence in the markets.

5. Surging Cash Holdings by Corporations: Companies like Berkshire Hathaway are hoarding cash, indicating a lack of confidence in the economy and anticipation of a downturn.

6. Persistent Manufacturing Recession: The U.S. manufacturing sector has been in recession for an extended period, signaling broader economic warning signs.

7. Extended Recession in Major Economies: Germany has been in recession for over two years, reflecting broader global economic fragility.

8. Declining Unemployment Claims Participation: A low percentage of unemployed Americans filing for benefits suggests the official data is understating the true level of economic distress.

9. Long-term Devaluation of Fiat Currencies: The U.S. dollar and other major currencies have lost significant value against gold, indicating long-term economic instability.

10. Rising Public and Household Debt: U.S. public and household debt levels have reached all-time highs, creating the potential for a systemic financial crisis.

Government Spending: The Core of this Financial System Crash

U.S. government spending has reached levels not seen since World War II. At 43% of GDP, it is just 1% below the peak during the Great Financial Crisis.

These unsustainable spending habits are breaking the economy, setting the stage for severe financial turmoil.

Japan faces its own challenges. The Bank of Japan’s extensive intervention in the economy, owning about 80% of the country’s ETFs and 55% of its government bonds, has caused significant market distortions.

The recent rate hikes by the Bank of Japan have already triggered a 12% drop in the Nikkei 225, underscoring the instability.

Central Bank Policies Causing Unprecedented Market Distortions

Central banks, particularly the Bank of Japan, have been heavily involved in the financial markets, creating artificial support that cannot be sustained indefinitely.

The consequences are now becoming apparent, with volatile markets and a loss of confidence among investors.

The Bank of Japan’s recent actions indicate that even the slightest change in policy can have dramatic effects, as seen with the substantial decline in the Nikkei 225.

Consumer Financial Behavior as a Warning Sign of the Approaching Financial System Crash

Consumer debt in the U.S. has skyrocketed, with credit card debt hitting a record $1.14 trillion in the second quarter of 2024. Interest rates have also reached an all-time high of 22.76%, mirroring the reckless financial practices of the government.

This growing debt burden is pushing consumers closer to financial collapse.

Corporate behavior is also flashing red warning signs. Berkshire Hathaway, one of the largest and most successful corporations, has increased its cash reserves to 25% of its total assets, the highest level since 2005.

This massive cash hoarding indicates a lack of confidence in the current economic environment and suggests that major corporations are bracing for a severe downturn.

Global Economic Indicators Pointing to a Deepening Crisis

Germany, one of the world’s largest economies, has been in recession for over two years, with its GDP contracting in five of the last nine quarters.

This prolonged economic decline signals a broader global economic fragility, which could trigger a domino effect across other major economies.

Insider stock sales in the U.S. have reached their highest levels in over a decade, particularly among executives in tech giants like Nvidia. This rapid sell-off indicates that those closest to the markets are preparing for a downturn, further fueling fears of an imminent crisis.

The long-term devaluation of fiat currencies, particularly the U.S. dollar, adds another layer of risk to the global financial system.

The U.S. dollar has lost 98.5% of its value against gold since 1971, with other major currencies like the Euro and Yen experiencing similar declines.

This loss of purchasing power is eroding trust in fiat currencies, pushing investors towards alternative assets.

The Bottom Line

The interconnected nature of global economies means that the problems facing the U.S., Japan, and Germany are not isolated.

With government spending spiraling out of control, distorted central bank policies, rising consumer and corporate debt, and prolonged recessions in major economies, the world is on the brink of an unprecedented financial crisis.

Contributing Article: https://www.businessinsider.com/recession-fears-fueling-stock-market-crash-wall-street-chaos-positive-2024-8?op=1

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© GCR Real-Time News

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Was Deep State Interference Exposed in Blocking Iraq’s Currency RV?

Was Deep State Interference Exposed in Blocking Iraq’s Currency RV?

On August 8, 2024  By Awake-In-3D

Recent leadership changes at Iraq’s Central Bank have raised suspicions of a hidden agenda. Could deep state operatives be behind the move to obstruct Iraq’s currency revaluation?

If you’re curious about what’s really going on with Iraq’s Central Bank, you’re not alone. Recent changes in leadership have sparked a lot of intriguing questions in my mind about Western (G7) deep state interference.

Mustafa Ghaleb Mukheef, the former Governor, has been replaced by Ali Mohsen Al-Alaq, but why? Some say it’s because of the Iraqi Dinar’s sharp decline, but there’s a deeper story here.

Mukheef might have been involved in a covert agenda by Western deep state operatives to block Iraq’s efforts to revalue its currency.

This article explains the allegations, the investigations, and what these events mean for the future of the IQD.

In This Article

• Leadership Changes Amidst Depreciation of the IQD Currency Rate

• Scrutiny of the New Acting Governor

• Investigations and Allegations of Mismanagement

• The Deeper Implications: Hidden Agendas

The sudden replacement of Mustafa Ghaleb Mukheef, the Governor of the Central Bank of Iraq (CBI), has raised eyebrows. Was this merely a response to the depreciating value of the Iraqi Dinar (IQD), or are there deeper, more sinister reasons at play?

Leadership Changes Amidst Depreciation of the IQD Currency Rate

The Iraqi Dinar has depreciated significantly, losing around 7% of its value in just two months.

Mukheef’s replacement, Ali Mohsen Al-Alaq, who previously held the position from 2014 to 2020, has returned as the “acting” governor.

The conflicting reports about Mukheef’s departure—whether a resignation or dismissal by Prime Minister Mohammed Shia al-Sudani—add to the intrigue.

The depreciation of the IQD currency rate alone doesn’t seem sufficient to explain such drastic leadership changes. Could there be more to Mukheef’s exit than meets the eye?

Scrutiny of the New Acting Governor

Al-Alaq’s extended interim appointment has not gone without scrutiny.

Hadi Al-Salami, a member of Iraq’s Integrity Committee, disclosed ongoing investigations into Al-Alaq’s tenure. According to Al-Salami, the Prime Minister was urged to terminate Al-Alaq’s appointment due to alleged violations.

Despite these calls, Al-Alaq remains in his position, raising questions about his true role and influence.

Investigations and Allegations of Mismanagement

The Integrity Committee has referred several issues to the Integrity Commission and the Public Prosecutor, including alleged mismanagement of exchange rates and financial irregularities.

Substantial sums of money and benefits have reportedly accrued to various Arab and foreign banks, sparking further investigation.

Additionally, Al-Salami revealed that the Acting Speaker of Parliament has agreed to host Al-Alaq in upcoming sessions to address numerous questions about his actions as governor.

Al-Alaq’s defense centers on his claims of effective management and forthcoming discussions with the Federal Reserve and the US Treasury Department.

The Deeper Implications: Hidden Agendas

Mukheef’s replacement may not simply be about the depreciation of the IQD currency rate.

There are suspicions that Mukheef could have been a Western (G7) deep state operative, deliberately stalling Iraq’s progress towards the Iraqi Dinar revaluation.

Soran Omar, a member of the Iraqi parliament’s Economic Committee, announced that Al-Alaq has reached retirement age and submitted his resignation to the Prime Minister.

However, Al-Alaq’s continued presence, despite reaching the legal retirement age, suggests powerful backing that defies standard procedures.

The Bottom Line

The leadership changes at the Central Bank of Iraq raise more questions than answers.

While the official narrative cites the depreciation of the IQD currency rate, the persistence of allegations, the unusual circumstances surrounding appointments, and the shadow of potential Western deep state influence suggest a more complex reality.

As Iraq faces critical decisions on the Iraqi Dinar revaluation, the true motivations behind these moves warrant closer examination.

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Inside Zimbabwe’s New Plan to Replace US Dollar with Gold

Inside Zimbabwe’s New Plan to Replace US Dollar with Gold

On August 7, 2024  By Awake-In-3D

The key strategies behind Zimbabwe’s transition to the gold-backed ZiG currency, de-dollarization and what it means for the future.

What This Means in Simple Terms

Zimbabwe is trying to stop using US dollars and start using a new gold-backed currency called ZiG. The government has made a plan for this change, but it’s not easy.

The ZiG is doing well so far, staying stable against other currencies. More people are using it, but many are still unsure because past local currencies didn’t work out. The government is working hard to make sure people trust and use the ZiG.

This change is part of Zimbabwe’s effort to control its own economy better and reduce dependence on the US dollar. The success of this plan will depend on continued government support and building public trust in the new currency.

The Government’s Dedollarization Roadmap

Zimbabwe’s cabinet recently approved a roadmap to phase out the US dollar in favor of the ZiG.

Information Minister Jenfan Muswere announced that a plan to operationalize the ZiG as legal tender is now in place, marking a significant step toward economic independence.

This transition is supported by penalties for unjust price hikes and manipulation, ranging from $200 to $5,000, aimed at reinforcing the currency’s use.

Stability of the ZiG Amid Economic Challenges

Since its launch in April 2024, the ZiG has maintained its stability against major currencies, including the US dollar.

Trading at 13.76 against the US dollar, the ZiG demonstrates resilience despite Zimbabwe’s complex economic environment.

The currency’s gold backing, initially set at $100 million and 2.5 tons of gold, has grown to over $375 million, reinforcing its value.

The US dollar, meanwhile, has seen fluctuations, with the dollar index (DXY) experiencing significant drops due to economic uncertainties in the US.

Growing Usage and Trust Issues

The use of the ZiG has more than doubled since its introduction, now accounting for about 30% of all transactions in Zimbabwe.

However, widespread acceptance remains a challenge. Many Zimbabweans, having experienced the failure of previous local currencies, are cautious. The government is addressing these concerns by increasing penalties for price manipulation and unfair trade practices to bolster confidence in the ZiG.

Despite these efforts, the transition is slow as the US dollar still dominates the market.

Economic Impacts and Future Prospects

Zimbabwe’s move to the ZiG aims to achieve economic sovereignty, but the country faces significant hurdles.

The ongoing El-Nino-induced drought has strained resources, and key exports like tobacco and platinum have seen declining prices. Despite these challenges, the government’s commitment to the ZiG demonstrates a clear, long-term vision for economic stability.

The ability of the ZiG to maintain its value will depend on the government’s continued support and effective management of the currency.

Contributing Sources:

• https://www.thezimbabwemail.com/banking/zimbabwe-approves-roadmap-to-replace-us-dollar-with-gold-backed-currency/

• https://www.thezimbabwemail.com/banking/usd-to-zig-zimbabwe-currency-steady-but-faces-elevated-risks/

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