Could the Government Confiscate Your Gold when the Financial System Crashes?

Could the Government Confiscate Your Gold when the Financial System Crashes?

On June 2, 2024   By Awake-In-3D

Historical Precedents and Current Implications of Gold Confiscation Explained

The idea of gold confiscation by the government creates significant debate within the RV/GCR community, especially in the context of a potential collapse of the fiat currency system.

Could a scenario similar to the 1933 Executive Order 6102, which required the surrender of privately held gold, happen again today?

To answer this question, let’s examine the historical context of EO 6102, its actual impact, and whether such drastic measures could be realistically implemented in the modern financial landscape.

In This Article

• Historical Analysis of Executive Order 6102

• Mechanics and Enforcement of the Order

• Potential for Modern-Day Gold Confiscation

• Comparative Legal and Economic Perspectives

In 1933, President Franklin D. Roosevelt issued Executive Order 6102, which mandated the surrender of most privately held gold to the U.S. government.

Historical Analysis of Executive Order 6102

Executive Order 6102 was issued during the Great Depression to address severe economic instability and a lack of confidence in paper currency.

Under the authority of the Trading with the Enemy Act of 1917, as amended by the Emergency Banking Act in March 1933, EO 6102 aimed to prevent the hoarding of gold, which was seen as a barrier to economic recovery.

The order required citizens to surrender gold coins, gold bullion, and gold certificates to the Federal Reserve by May 1, 1933.

Exceptions included up to $100 in gold coins and gold for industrial, professional, or artistic uses, as well as rare and collectible coins. In return, individuals received paper currency valued at $20.67 per ounce of gold.

Mechanics and Enforcement of the Order

EO 6102 is often described as a gold confiscation order, but it was more accurately a nationalization of gold.

The government offered compensation for surrendered gold, thus avoiding outright confiscation without remuneration. The public’s compliance was largely voluntary, driven by trust in the government, patriotism, and fear of penalties.

Despite the order, enforcement was relatively minimal.

Economist Milton Friedman and Anna Jacobson Schwartz estimated that only 20-25% of private gold was surrendered. The government did not aggressively pursue those who ignored the order, focusing instead on achieving compliance through public cooperation.

Potential for Modern-Day Gold Confiscation

Given the historical precedent set by EO 6102, could a similar order be issued today if the fiat currency debt system collapses? While it is theoretically possible, several factors make it less likely:

1. Legal and Political Climate: The current legal framework and political environment differ significantly from those in 1933. Any attempt to confiscate gold would face substantial legal challenges and political opposition.

2. Public Reaction and Compliance: Today’s public is more informed and potentially more resistant to such measures. Trust in government institutions is generally lower, making voluntary compliance less likely.

3. Economic Alternatives: Modern economies have diverse financial instruments and mechanisms to address monetary crises. Measures such as quantitative easing and other monetary policies can be employed without resorting to gold confiscation.

4. Global Financial System: The global financial system is more interconnected and complex. The impact of a unilateral gold confiscation by one country could have broader international repercussions, making it a less viable option.

Comparative Legal and Economic Perspectives

The legal basis for gold confiscation today would require substantial legislative action.

The original EO 6102 was supported by amendments to existing laws that granted extraordinary powers during a national emergency. Replicating such a framework today would necessitate new legislation or amendments to current laws, which could be a contentious process.

The Bottom Line

Executive Order 6102 did mandate the surrender of most privately held gold in 1933, but it was not an outright confiscation without compensation.

The context of the Great Depression and the legal framework at the time facilitated this extraordinary measure. In today’s complex and interconnected financial environment, a similar gold confiscation order is unlikely.

The potential for such an action would face significant legal, political, and public resistance, making it an improbable solution to a fiat currency debt collapse.

Contributing Reference Links:

• Full text of Executive Order 6102 from 1933.

• https://www.moneymetals.com/news/2024/05/31/did-fdr-really-confiscate-everybodys-gold-003226

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© 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

“Tidbits From TNT” Tuesday 6-4-2024

TNT:

Tishwash: Al-Sudani: Iraq has many investment opportunities offered to international companies

Prime Minister Muhammad Shiaa Al-Sudani confirmed, today, Tuesday, that Iraq has many investment opportunities offered to international companies.

Al-Sudani’s media office said in a statement received by {Al-Furat News}, “The latter received the British Ambassador to Iraq, Stephen Hitchen, and during the meeting, they discussed bilateral relations between Iraq and the United Kingdom, and mechanisms for working to strengthen and expand them in various fields, in a way that achieves mutual benefit and interests.” shared between the two countries. 

The Prime Minister stressed that "Iraq has many investment opportunities presented to international companies, welcoming the participation of British institutions and companies in various sectors, especially the sectors of energy, industry, agriculture, and other vital sectors." link

Tishwash:  Nearly 80 trillion dinars disappear from the 2022 and 2023 budget.. Deputy: “No one knows where it went.”

Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed today, Tuesday, that about 57 trillion Iraqi dinars remain from the 2023 budget, and no one knows where it went.

Al-Salami said, “The 2023 budget amounted to 206 trillion, the actual expenditure was 148 trillion, and the remaining 57 trillion. No one knows where that retained money went.”

He added, "There are 22 trillion in rounds in the 2022 budget as well, and no one knows where it went," noting that "there are problems and irregularities regarding the issue of actual revenues and actual expenses in the budget tables."

He explained, “The House of Representatives made many observations on the budget schedules that were passed without warning.”  link

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CandyKisses:  Sudani suspends after approving 2024 budget schedules

Baghdad Today - Baghdad

Prime Minister Mohamed Shia Al-Sudani expressed, on Monday (June 3, 2024), his thanks and gratitude to the House of Representatives for its efforts that resulted in the approval of the budget tables.

Al-Sudani said, according to a statement by his media office, received by "Baghdad Today": "With more appreciation and pride, we congratulate the responsible step of the esteemed House of Representatives, represented in approving the budget tables for the year 2024 , related to Law (13 of 2023), the law of the "Federal Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025).”

He added: "We express thanks and appreciation for the efforts of the Presidency of the House of Representatives, political forces, parliamentary committees, and the Finance Committee, which completed the government effort, and what was previously approved in the Council of Ministers, represented in the budget tables (A, B, C, D, E, and f)."

He continued: "We reaffirm the continuation of the implementation of the government program, which received the vote of the Council of Representatives and the support of political forces, in order to complete the goals and implement the priorities that represent, above all, the aspirations of our Iraqi people and their demands that the government wishes to fulfill."

He added: "On this occasion, we call on the House of Representatives and provincial councils to support the work of the government by following up on the legislative and oversight effort, which our government institutions with all their arms and bodies consider as a support for their work, an evaluation of the path, and a guarantee against corruption, deviation and failure, just as we pledged to our people that there is no place for procrastination, nor courtesy at the expense of people's interests, preserving public money, and implementing service in all its names."

"We ask the Almighty God Almighty for success and repayment to obtain His satisfaction, glory be to Him, and to obtain the satisfaction of our honorable people."

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Tishwash: Oil prices shock the markets and Brent falls to $77

Oil prices fell in early trading on Tuesday, continuing the losses of the previous session when prices fell to their lowest levels in four months, with investors concerned about increased supplies later in the year.

Brent crude futures fell 20 cents, or 0.3%, to $77.77 per barrel. Brent crude closed below $80 for the first time since February 7, after falling more than 3% yesterday, Monday.

US West Texas Intermediate crude futures fell 17 cents, or 0.2%, to $74.05, and closed near the lowest level in four months yesterday after falling 3.6%.

The Organization of the Petroleum Exporting Countries and its allies led by Russia, known as the OPEC+ group, agreed on Sunday to extend most oil production cuts until 2025, but left room to gradually cancel the voluntary cuts by eight members starting in October.

Signs of weak demand growth have also weighed on oil prices in the past few months, with a focus on data on fuel consumption in the United States.

The average price of gasoline in the United States fell 5.8 cents to $3.50 a gallon yesterday, Monday, according to GasBuddy data.   link

 Mot ..... Just ASaying -- bet Noone will Notice this Un!!!!  Almost summer

Mot: .. Dang - I LOL -- on dis un!!!  Hummingbirds

News, Rumors and Opinions Tuesday AM 6-4-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Tues. 4 June 2024

Compiled Tues. 4 June 2024 12:01 am EST by Judy Byington,

Black Swan Event:

Global Financial System Implosion Expected Around Sun. 9 June When Petrodollar Ends.

Gold To Kill The Fed.

Judy Note – The Storm: On Sunday 9 June 2024 the ending of the Petrodollar was expected to trigger a Black Swan Financial Event via a Global Financial Crash – that would usher in a Global Currency Reset to gold/asset-backed currencies of 209 nations. This would take away the Cabal’s control of the World’s Financial System that has been present since 1918 and give The People’s tax monies back to The People.

Timing:  (Rumors/Opinions)

On Sun. 9 June 2024 Black Swan Event Expected as the Petrodollar Ends and Global Financial System implodes since there was no longer a need for nations to hold US Treasuries as the Global World Reserve Asset in oil trade. The U.S. Treasury bond market is funded off the World needing dollar reserves aka bank derivatives (off balance sheet dollars). When the Petrodollar ends on June 9th, there is no need for the world to hold U.S. Treasuries as the global world reserve asset in the oil trade. The Japanese Yen will hyper-inflate against their U.S. Treasury holdings. Japan will be forced to liquidate all their dollars

Global Currency Reset: (Rumors/Opinions)

Mon. 3 June 2024 TNT Tony: “It was supposed to happen Saturday night, but then it was to happen on Sunday due to a hiccup, and it is supposed to happen tonight.  So the real deal is that it did not go on Sunday, because the finance committee did not do their part in Iraq, did not do their vote. There was a small hiccup.  But as I have sent out on Twitter, the vote has gone through the finance committee and vote has gone through the House of Representatives. Those are the things we wanted to see.

We are hoping to see a rate, we know there is a new rate, and we know it is going through. All banks are HIGH HIGH alert.

They were told yesterday, but it took some time, as some bank contacts called me last evening and some in the morning, that they were all put on high alert starting last night through Thursday morning.

They said by Thursday morning, definitely, you are going to have people walking in your door, a bunch of brand new customers (that was yesterday). Talking to them today, they do have pending rates and some of them are saying we are waiting right now to be notified of the release of the 800 numbers. Let’s hope it happens. 

 Federal Reserve said they were just called in within the last hour. Everyone is to report to their station. Right now as we speak.  With all this excitement, everything is pending, and I will give praise where praise is due

Ray has been telling you guys about the Venezuelan Bolivar, rate predictions, right now, rate prediction for Bolivar on screen right now is 0.36 and is climbing. Ray predicts between 22 and 55. It is at 0.36 and climbing right now. It is on the bank screen at this time. 

Today is a good day. We have nothing to do but wait for the announcement. They are passing out money in Iraq. Activating projects. We are at a good time we just have to wait.  Not sure if it is 72 minutes or 72 hours. The rate has not been announced the rate there yet, but maybe they wait till Wednesday for the Gazette. But everyone I talk to they say they are trying to go anytime now. 

But we are there. The rates are good. Everyone is excited. So I hope you guys are ready.”

On Mon. Evening 3 June 2024 the Iraqi Parliament finally passed their budget with the new Iraqi Dinar International Rate in it.

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Mon. 3 June MarkZ: “The Iraqi Parliament passed the budget today. Folks are geared up for this week. I have been told by a number of them that they are ready and positioned.”

Fri. 31 May Wolverine: “I received an official notification from Brazil that confirmed the release order for Colombia, USA, Brazil. The representative of the Columbian project manager begins with his delivery protocols to his Tier4B. Leading representative internet group starts in June. I received another message from a very strong contact, a Whale, from Zurich, saying he got the same message. Reno – I have been told, is about to kick off.  So by next week, everything will be looking beautiful. The foundations are all funded. They are ready to go. This is not a rumor. This is fact that is coming through.

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Global Financial Crisis:

Mon. 3 June 2024: Multiple NYSE stocks have now been halted on volatility due to a technical issue. Berkshire Hathaway stock is currently down 99.97%.Warren Buffet just lost 99% of his wealth “due to a glitch in the Matrix.” Down $135B

Mon. 3 June 2024 FDIC Says 63 Lenders on Brink of Insolvency. https://dailyhodl.com/2024/06/02/517000000000-in-unrealized-losses-hit-us-banking-system-as-fdic-warns-63-lenders-on-brink-of-insolvency/

Mon. 3 June 2024: BOMBSHELL!!! GOLD WILL KILL THE FED, SILVER WILL BURY IT: How Basel III and IV Will Ignite the Precious Metals Market! – American Media Group (amg-news.com)

Read full post here:  https://dinarchronicles.com/2024/06/04/restored-republic-via-a-gcr-update-as-of-june-4-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Deepwoodz   Question:  "Don't they have a deadline for these budget things by June 9th?"  I think June 9th was slated as the end of their legislative session post extension. Time will tell as to the importance of it.

Militia Man  They're talking about a massive deficit...$210 trillion budget...It's insane.   They don't have that kind of money.  What are they doing? Now they're going to increase it?!?...And these guys have it on "agenda for a confirmed and imminent completion" of it [the budget].  There's something up folks because 1310 doesn't work.

LIVE! Vast Debt Expansion And Currency Devaluation WILL FURTHER DISTORT Asset Prices.

Greg Mannarino:  6-3-2024

https://www.youtube.com/watch?v=NemX8cgjYJI

Wave Of Central Bank Rate Cuts This Month, ‘Black Swan’ Still Looms | Axel Merk

David Lin:  6-3-2024

Axel Merk, CIO and President of Merk Investments, discusses the "signs of weakness" the economy is showing, as well as the impact of lower central bank policy rates on markets.

0:00 – Intro

 1:22 - Recession is 'black swan'?

7:55 - Fiscal policy and deficit

9:46 - Inflation and market reaction

13:19 - Central bank cuts

15:30 - Economic risks

17:30 - Outlook on stocks

22:00 - Gold and gold stocks

https://www.youtube.com/watch?v=onyUitqzYTc

Currency System Failure: The Japanese Yen Will be the First to Collapse: Awake-In-3D

Currency System Failure: The Japanese Yen Will be the First to Collapse

On June 1, 2024 By Awake-In-3D

Japan’s Record Spending Unable to Stop Yen’s Destruction

In This Article:

• Japan’s Record Yen Intervention

• Persistent Weakness of the Yen

• Potential Global Currency Crisis

• Expert Predictions on Future Interventions

The global fiat currency system faces unprecedented challenges, and signs of an accelerating collapse are becoming increasingly evident.

Central banks worldwide are grappling with inflation, volatile markets, and economic instability. Among these currencies, the Japanese yen stands on the brink of a historic downfall.

As the first major fiat currency to face a potential collapse, the yen’s struggles could mark the beginning of a broader crisis, signaling the final phase of the global fiat currency debt system’s demise.

Japan’s Record Yen Intervention

Japan’s finance ministry disclosed spending ¥9.8 trillion ($62.2 billion) from April 26 to May 29 to support the yen.

The intervention, focused on April 29 and May 1, exceeded estimates of ¥9.4 trillion. Despite this massive expenditure, the yen’s value remains critically low. The yen’s rapid decline forced Japan to take drastic measures, highlighting the severe instability of the currency.

THIS CHART SHOWS HOW JAPAN’S MASSIVE YEN INTERVENTION IN EARLY MAY (GREEN ARROW) HAS COMPLETELY FAILED OVER THE PAST 30 DAYS (RED ARROW).

Persistent Weakness of the Yen

Despite significant intervention efforts, the yen remains weak. During the interventions, the yen briefly dropped to 153 against the dollar but soon returned to around 157.

This continued decline indicates the diminishing power of such interventions. Factors like the strong U.S. economy and delayed Federal Reserve rate cuts contribute to the yen’s persistent weakness.

The currency’s instability poses a serious risk to Japan’s economic health.

Potential Global Currency Crisis

The yen’s decline could signal broader issues in the global fiat currency system. Japan’s intervention highlights the challenges of defending a weakening currency amid global economic pressures.

As the yen struggles, speculators may push it further down, testing the Bank of Japan’s (BOJ) limits. This situation could trigger a significant currency crisis, affecting global markets and economic stability.

Expert Predictions on Future Interventions

Experts are divided on the effectiveness of Japan’s interventions. Hideo Kumano, a former central bank official, believes that while interventions have not reversed the yen’s decline, they have slowed it. Daisaku Ueno, chief FX strategist at Mitsubishi UFJ Morgan Stanley Securities, expects continued spending to prop up the yen, emphasizing Japan’s resolve to mitigate imported inflation.

Finance Minister Shunichi Suzuki has issued warnings of further interventions to counter excessive volatility. With the yen trading around 157.235 per dollar, the effectiveness of additional interventions remains uncertain.

Analysts, including Mizuho Securities’ Masafumi Yamamoto, suggest that Japan might intervene again if the yen experiences sharp declines. The potential for further interventions raises concerns about the yen’s long-term stability.

The Bottom Line

Japan’s unprecedented $62 billion intervention to support the yen has failed, highlighting the currency’s vulnerability.

As global economic pressures mount, the yen’s decline could signify a broader crisis in the fiat currency system.

Japan may continue its intervention efforts, but the long-term outlook for the yen remains bleak, marking the onset of a significant currency crisis. The global economy must prepare for the repercussions of this instability.

Supporting Article: https://www.markets.com/news/japanese-yen-weakness-persists-despite-dollar62bn-intervention/

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© 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

Gold Price at $27,533 is Not Some Random Guess Says Currency Wars’ Jim Rickards

Gold Price at $27,533 is Not Some Random Guess Says Currency Wars’ Jim Rickards

Daniela Cambone:  6-3-2024

“If you have to go back to a gold standard, yeah, $27,000 would have to be the [gold] price in order to avoid massive deflation,” says Jim Richards, New York Times bestselling author.

He explains to Daniela Cambone that it’s “more likely” we will return to the gold standard as people lose confidence in fiat currency.

 Moreover, as the money supply skyrockets while the supply of gold remains the same, the price of gold is propped up. He also states the danger when Russia reiterates the West by suing Euroclear, the largest clearing, settlement, and custody organization in Europe.

CHAPTERS

00:00 Going back to gold standard

4:18 Likely of going back to gold standard

https://www.youtube.com/watch?v=t49iE4BaVs4

Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24

Goldilocks' Comments and Global Economic News Monday Afternoon 6-3-24

Good Evening Dinar Recaps,

Qatar Central Bank Announcement | QNA

Doha, June 02 (QNA) - "Qatar Central Bank (QCB) announced on Sunday the completion of the development of the infrastructure for the Central Bank Digital Currency Project (CBDC)."

Now, they are able to settle their digital payments in local and International Banks. They will be testing more applications going forward, and they will be able to settle in large quantities as well.

Currently, they are in their experimental phase that is expected to last until October this year. It will encompass various tokenized assets in the market and portfolios inside the banking system.  QNA

© Goldilocks

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"Louisiana Reaffirms Gold and Silver As Legal Tender"

Louisiana is the latest of many states that have gone through the legislative process to confirm that gold and silver are now considered legal tender and cannot be taxed.

This allows new monetary policies to form an expansive view of precious metals now being incorporated into the payment system as a form of legal tender.

On May 8th, 2024, "U.S. Representative Alex Mooney (R-WV) has re-introduced sound money legislation to remove all federal income taxation from gold and silver coins and bullion."

The Monetary Metals Tax Neutrality Act (H.R. 8279) backed by the Sound Money Defense League is currently on the table to consider precious metals on par with the US dollar.

This will keep money in the hands of the people instead of the federal government who want to grab capital gains tax on the use of what was formerly known as a solid payment system.

At the present time, 40 States have passed some form of Sound Money legislation. The next step is to take these new measures to the Federal Government.  Morning Star  Money Metals  Congress  Forbes

Gold will set us free!

© Goldilocks

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The following is a list of recent bank mergers and acquisitions that are currently taking place. This list grows daily, and you can refer to it anytime you like through the link below.

We have talked about this as being part of the end game when we move from Fiat to Gold for the last 3 years.

The banking system is currently in a liquidity crisis that is not being talked about, and many changes are taking place behind the scenes.

I see these bank mergers as part of the process that will move our money into a safer Financial System than before, and one that will meet the needs of the next stage of our evolution financially and spiritually.   iBanknet

We are truly witnessing the rebirth of a Global Nation.

© Goldilocks

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"It was decided to stop the companies whose details are listed in the table below from entering the foreign currency buying and selling window"

Iraq is narrowing down the list of companies they will be working with going forward in the buying and selling of their foreign currency.

Many companies buy and sell foreign currencies from around the world. Some companies even go so far as to have some of their people travel to buy currencies from around the world such as Banknote World.

The need for these entities is going away with the new digital banking system. The move to an electronic banking system will soon make these services obsolete after our exchange.  CBI   Bank Note World
© Goldilocks

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READ HERE

file-171741265259795.pdf

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A financial storm is coming that governments cannot fight | Finance Yahoo

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Aeroponic Farming in India: Simplest and Best Guide Ever | Times of Agriculture

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Ahmed AlKiswani, Qatar Financial Services Sector Leader, PwC Middle East commented: “Qatar is strategically positioning itself as a leading FinTech hub in the Middle East and a pioneer in digital transformation and sustainability within the financial services sector. | PwC

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USD3 Announcement | Crypto Reporter

Fintech company  Stable.com announced the launch of USD3, its 1:1 backed stablecoin, declaring its determination to disrupt the current stablecoin landscape and bring serious competition to existing industry players.

USD3 is a US-dollar extension for global commerce and Web3 and the first stablecoin developed with a programmatic layer in mind and a full suite of payment capabilities and tools. It will act as the digital, tokenized model for fiat money for developers globally building protocols, smart contracts infrastructures, and applications on top of blockchain and will provide them with a solution that is interoperable, safe, trustworthy, and can be used and contributed to by everyone.

It will tremendously simplify life for developers, thanks to how easily it can be integrated into dApps and its ability to speed up fund movements, thus driving the industry further on towards its goal of a more open financial system and creating new use cases. Businesses will leverage USD3 to streamline payments globally and simplify access to crypto capital markets.

USD3 will launch on Ethereum, Polygon, Avalanche, and Linea, and will be supported by a variety of ecosystem leaders.

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‘Hundreds of Trillions’– Sergey Nazarov Says 2024 Is Year Crypto and Global Financial System Merge - The Daily Hodl

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Here’s Everything You Need To Know About Banking-as-a-Service | Inc42

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Currently, we are witnessing the merging of the new digital economy backed by gold. It is a Gold Standard formulated through Digital Protocols.

Both Gold and Digital Assets are in their final phases of legislative development and completion.

Enjoy the show.

© Goldilocks

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VaultChain Gold  | Kitco

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LAST WARNING: China Is Ready to Reveal the ENDGAME & Gold Prices Will Soar - Alasdair Macleod  | Youtube

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In 1912, American financier and investment banker J.P. Morgan said, “Gold is money. Everything else is credit” during his testimony before Congress.

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"Recently, the U.S. Federal Reserve received multiple suggestions regarding the use of XRP in a public questionnaire about CBDCs, prompting speculation about the potential integration of this cryptocurrency into the Federal Reserve’s operations." | The Crypto Basic

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Gold Will Soon Displace The US Dollar, And Americans Are Missing Out

Gold Will Soon Displace The US Dollar, And Americans Are Missing Out

Notes From the Field By James Hickman (Simon Black) June 3 2024

Next month will mark 80 years since the US dollar was formally anointed as the world’s reserve currency.

It was July 1944. And with the war in Europe near its denouement, governments were already trying to plan what the postwar world would look like. Most urgently, they needed to figure out how to rebuild their devastated economies.

Just think about the mess they were in: nearly every industrialized country in Europe had been destroyed by war. Manufacturing and farming were both in the dumps, and they had very little savings to invest in economic revival.

They also had a gigantic mess when it came to international trade. Dozens of countries each had their own currencies, so commercial trade meant each government keeping 20-30 currencies in reserve.

France, for example, would have to hold Austrian schillings, British pounds, Spanish pesetas, Italian lira, Dutch guilders, Soviet rubles, etc. in reserve, just to be able to trade.

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A much, much simpler solution was for every country to use the same currency to trade with each other. And there was no question about which currency would be the right choice: the US dollar.

In 1944, the United States still had a strong and powerful economy. It had robust capital markets and a well-developed financial system. It was the only country left standing.

So, representatives from more than 40 nations gathered that summer in picturesque Bretton Woods, New Hampshire and formally agreed to use the US dollar for international trade and commerce.

More specifically, each country fixed its exchange rate to the US dollar, while the US dollar was fixed to gold.

It only lasted about thirty years. By the early 1970s, the original Bretton Woods deal had been completely undone. Currencies floated freely against each other (including the dollar), and the US dollar terminated its link with gold.

And yet (thanks in part to Saudi Arabia agreeing to sell oil in dollars), the US dollar has continued to remain the dominant reserve currency through today.

For the most part that was still a sensible bet; the US has been the world’s #1 economy for the past five decades. But the cracks are obvious.

The US federal debt is a national embarrassment. At $35 trillion, the debt is far larger than the entire US economy… and it gets worse every year.

The US government is also completely dysfunctional. The vitriol and enmity, among the parties and within the parties, is so extreme that virtually nothing productive or beneficial ever takes place. The business of government now is merely two sides screaming that the other is a threat to democracy.

The President barely knows where he is half the time, and the other half he spends shredding the Constitution to engage in some anti-capitalist, inflationary, fanatical woke climate agenda.

Sadly, this isn’t a one-time blip. America’s governance and finances have been deteriorating for most of this century-- starting with the endlessly expensive War on Terror, through the free-spending Obama years, to the pandemic… and now the very real prospect that the next four years could look very similar to the previous four years.

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America is supposed to be a reliable, stabilizing force in the world. But today’s America has lost its grip. And foreign nations have noticed.

Most people alive today don’t remember a world in which the dollar wasn’t #1 and therefore cannot fathom a world in which this is no longer the case. But it’s irrational to assume that something will continue indefinitely, forever, simply because of the status quo today.

It’s not 1944 anymore. Back then there were no other options… and no one who even came close to rivaling the military and economic superiority of the United States.

Today both of those are in decline. It’s not to say the military can no longer fight or that the economy is in complete shambles. But America no longer has the unrivaled position it enjoyed for so long.

More importantly, the trend isn’t looking good. From an economic perspective, the national debt is set to increase by another $20 trillion over the next decade… likely triggering a nasty run of stagflation like the US experienced in the 1970s.

The US military, meanwhile, continues its downward slide. Recruitment is absolutely abysmal. Key weapons systems, fighter jets, tanks, and naval vessels are borderline obsolete.

The US Navy’s fleet of ships and submarines (which would be critical in any conflict against China) is the oldest and smallest it’s been since the end of World War II. Nearly 1,000 military aircraft will be retired from service in the next five years alone, and there is no concrete plan to replace them.

Nor is there any money to do so.

Frankly it is exceedingly difficult to believe that, in light of America’s declining power and prestige, the rest of the world will continue accepting the US dollar as the global reserve currency for much longer.

We’re already seeing signs of this change; plenty of countries are starting to trade with one another in different currencies, including Chinese renminbi and Indian rupee, and this trend will likely accelerate over the next several years.

I think it’s even possible there could be an event of some sort-- perhaps the US government defaults on its debt, or there’s even a shooting war or cyberattack-- which triggers a new Bretton Woods style conference.

The key difference between now and 1944 is that there was only one option back then-- the US. And pretty much everyone had confidence in America.

That’s not the case today. Few rational people have the same level of confidence in the US government. Yet almost no one trusts the Chinese either.

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But just like 1944, there is an obvious solution… and one that everyone already trusts: gold.

Nearly every country already holds gold as a reserve asset, so there would be very little change to the way they currently do business.

I’ve written about this before-- I believe this is why so many central banks around the world have been on a gold-buying spree. In fact, this is THE reason why gold is near its all-time high: central banks have been buying it by the metric ton.

You have to understand that central banks aren’t speculators. They don’t care about price. They buy for strategic reasons… and I believe that the central bank gold purchases that have been occurring over the past few years are a key sign that the global financial regime will be changing.

Individual investors, meanwhile, have been selling gold.

North American investors have sold off more than $4 billion worth of gold ETFs in the first four months of this year, with $2 billion of that just in the month of April. And gold ETF holdings are now at their lowest level in four years.

Central banks are buying. Individual investors are selling. It seems pretty clear that people aren’t paying attention to the warning signs.

Yes, gold is near its all-time high. But that doesn’t mean it can’t go much higher… especially if there’s a catalyst. And there absolutely is.

As a final point, I would point out again that even while gold is near its all-time high, shares of high quality, profitable, dividend-paying gold miners are laughably cheap.

That’s because central banks only buy physical gold bullion (which has pushed up the price of gold). They do not buy gold stocks… hence many of these businesses are available for outrageous bargains.

To your freedom,   James Hickman  Co-Founder, Schiff Sovereign LLC

https://www.schiffsovereign.com/trends/gold-will-soon-displace-the-us-dollar-and-americans-are-missing-out-151007/

States Ready for Fiat Currency Collapse: Gold is “Real Money”

States Ready for Fiat Currency Collapse: Gold is “Real Money”

On June 2, 2024   By Awake-In-3D

Is the Fiat Currency System Doomed? Louisiana Thinks So

Across the United States, a growing number of states are passing legislation reaffirming gold and silver as legal tender while also rejecting Central Bank Digital Currencies (CBDCs) as valid money.

This legislative trend underscores a profound skepticism towards the stability of the fiat currency system and a proactive approach to safeguarding economic stability.

By embracing sound money principles and constitutional directives, these states are positioning themselves to withstand potential financial upheavals and protect their citizens’ wealth.

In This Article

• Louisiana’s New Legislation on Gold and Silver

• Constitutional Foundation for Sound Money

• Growing Trend Against Fiat Currency and CBDCs

• Implications for the Future of State Economies

Louisiana has made a significant legislative move as Governor Jeff Landry signed a new law on May 31, 2024, reaffirming gold and silver as legal tender.

This action reflects a broader state-level trend anticipating a collapse of the fiat currency system.

Louisiana’s New Legislation on Gold and Silver

Senate Bill 232, sponsored by Senator Mark Abraham, declares that any gold or silver coin, specie, or bullion issued by the United States government is legal tender when agreed upon by both parties in a contract.

The bill enjoyed overwhelming support, receiving only one dissenting vote in the Louisiana House and Senate.

Constitutional Foundation for Sound Money

This legislative move aligns with the U.S. Constitution. Article 1, Section 10 states: “No state shall…coin Money; emit Bills of Credit; [or] make any Thing but gold and silver Coin a Tender in Payment of Debts.”

This principle, rooted in the nation’s founding document, highlights the enduring importance of sound money policies.

Growing Trend Against Fiat Currency and CBDCs

Louisiana is part of a growing national trend where states are moving away from the fiat currency system and rejecting Central Bank Digital Currencies (CBDCs) as valid money. In 2024, Alabama, Utah, Wisconsin, Nebraska, and Kentucky passed similar legislation.

These states have taken steps to eliminate sales and capital gains taxes on precious metals and empower state treasurers to invest in gold and silver. This movement underscores a deepening distrust in the stability of the fiat currency system.

Implications for the Future of State Economies

The 53-year experiment with a purely fiat currency system in the United States has resulted in significant economic challenges.

The Federal Reserve note “dollar” has lost purchasing power, leading to inflation and economic instability. By reaffirming gold and silver as legal tender, states like Louisiana are proactively protecting their citizens’ wealth and preparing for a potential collapse of the fiat currency system.

This legislative trend suggests a broader shift towards economic self-reliance and stability at the state level, highlighting a growing recognition of the need for sound money policies.

The Bottom Line

Louisiana’s reaffirmation of gold and silver as legal tender is a clear indication of a broader state-level trend towards sound money policies.

As more states join this movement, it signals increasing skepticism about the long-term viability of the fiat currency system and a proactive approach to ensuring financial stability.

By embracing precious metals and rejecting CBDCs, states are positioning themselves to safeguard their economies and citizens against the potential collapse of the fiat currency debt system.

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© 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

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“Tidbits From TNT” Monday 6-3-2024

TNT:

Tishwash: It includes international agencies...preparing to open the largest mall in an Iraqi governorate

The Muthanna Investment Authority announced today, Monday, the imminent opening of (Al-Baraka Mall) in the center of Samawah city, implemented by investor Sheikh Hatem Al-Khawam, and it is considered one of the largest malls in the governorate and neighboring governorates. 

Chairman of the Muthanna Investment Authority, Adel Dakhel Al-Yasiri, said, “This important commercial center, which was built on an area of ​​(12,300 square meters), includes (100) various stores, (12) restaurants and hypermarkets with an area of ​​(2,000 square meters), a children’s play area with an area of ​​(1,300 square meters), and a coffee shop.” And branches of several banks and international agencies for clothing and meals, and a garage that can accommodate (80) vehicles, and the implementation of a multi-storey garage is underway in addition to the project to accommodate more vehicles. 

He added, "The project employs dozens of workers, including technicians and administrators, daily, while the number will increase during the commercial operation phase."  link

CandyKisses:  External praise for Iraq's banks: very advanced in electronic banking services

Economy News - Baghdad

The Union of Arab Banks confirmed on Monday that Iraq is very developed in electronic banking services, while pointing out that the Iraqi banking sector is ancient and its role is vital in economic development.

The Secretary-General of the Union of Arab Banks, Wissam Fattouh: "There is a deprivation of dealing in the dollar and not sanctions, because sanctions mean inclusion on the sanctions list," pointing out that "the impact of deprivation is almost equivalent to sanctions because banks are difficult to work without the dollar currency, which represents the currency of international trade."

Fattouh added, "The Iraqi banking sector is a long-standing sector with a history, with total assets of $ 157.9 billion, and even deposits belonging to it more than $ 100 billion. Therefore, this sector is important and its role is vital in the economic development of the heart of the country."

He stressed "the need to apply international standards, especially with regard to standards and laws in force to combat money laundering and terrorist financing."

He pointed to "the involvement of the strategy between the Union of Arab Banks and the Association of Iraqi Private Banks, to reach this goal that is really required, and to train and qualify Iraqi cadres in particular."

He pointed out that "there is a great partnership between Iraq and the United States of America for decades and trade exchange, especially after Prime Minister Mohammed Shia al-Sudani made an important historic visit to the United States of America."

"The biggest role today is how to protect the Iraqi banking sector, and that trade exchange actually takes place through Iraqi banks and not through other banks," he said.

"Iraq is very advanced in electronic banking services, and the challenge today facing the Iraqi banking sector remains the challenge of compliance," he said.

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CandyKisses:  Taif Sami talks about the allocations of the governorates in the budget

Baghdad - Iraq Today:

Finance Minister Taif Sami stressed the ministry's keenness to support all governorates according to what is scheduled in the budget.

The Ministry of Finance explained in a press statement that "Finance Minister Taif Sami received Maysan Governor Habib Zahir Al-Fartousi, to discuss the financial reality of the province and its needs for vital projects."

She added, "The Minister of Finance discussed the most prominent financial challenges facing the province, and ways to address them, as well as a number of projects that the province intends to implement during the coming period."

Sami pointed out, according to the statement, "the ministry's keenness to support all Iraqi provinces as scheduled within the draft general budget, and to provide the necessary facilities for them to implement their projects and improve the level of services provided to citizens."

For his part, the Governor of Maysan expressed his appreciation to the Minister of Finance for its interest in improving the financial and economic reality of the governorate, and its continuous support for the implementation of its projects to achieve sustainable development in it.

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CandyKisses:  Political decision fails to pass new budget law

Baghdad - Iraq Today:

The parliamentary finance committee failed to vote on the budget tables in preparation for their presentation in the House of Representatives session scheduled for Monday.

Committee member Mustafa al-Karawi said in a press statement that "the Finance Committee met today, with its full members, in order to vote as a final decision on amending the budget tables, or passing them as they are, but at the last moments of the meeting came the political decision to postpone the vote until further notice to end the meeting without resolving the decision within the committee."

"During the meeting, MPs put forward a number of views on the importance of supporting sectors that suffer from lack of allocations, such as the service sectors, water resources and agriculture, as they are in direct contact with the citizen," al-Karawi said.

He pointed out that "political agreements are disrupting the budget schedules so far," noting that "the failure to resolve the budget schedules file by the Finance Committee, means that the fate of the session to vote on these tables in parliament "will be unknown."

Mot: ........ Tah Dah! –

Mot: .. Welllll - Opal - I Do!!! – LOL 

News, Rumors and Opinions Monday AM 6-3-2024

Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.

RV Excerpts from the Restored Republic via a GCR: Update as of Mon. 3 June 2024

Compiled Mon. 3 June 2024 12:01 am EST by Judy Byington,

Timing:  (Rumors/Opinions)

On Sun. 9 June 2024 the Petrodollar Ends – no need for nations to hold US Treasuries as the Global World Reserve Asset in oil trade: The U.S. Treasury bond market is funded off the World needing dollar reserves aka bank derivatives (off balance sheet dollars). When the Petrodollar ends on June 9th, there is no need for the world to hold U.S. Treasuries as the global world reserve asset in the oil trade. The Japanese Yen will hyper-inflate against their U.S. Treasury holdings. Japan will be forced to liquidate all their dollars.

Global Currency Reset:

Sun. 2 June 2024 TNT Tony: The banks have been placed on High Alert.

Sat. 1 June 2024 MarkZ: I expected it to be pretty quiet this weekend. But folks are geared up for early next week. I have been told by a number of them that are ready and positioned.

Sun. 2 June 2024 Charlie Ward Show: “Zimbabwe’s new Zig Currency has knocked inflation there to 0. The new gold backed currency of Argentina is not only reducing the taxes for the people, but it is also paying the taxes back to the people. The people of Argentina are waking up.”

Fri. 31 May Last Wolverine Call:

“I received an official notification from Brazil – “Good afternoon to you and your family. Confirmed the release order has been given – Colombia, USA, Brazil. The representative of the Columbian project manager begins with his delivery protocols to his Tier4B. Leading representative internet group starts in June.

The banks are ready and adapted to 100% QFS. The drought has already ceased. Wait for your notifications from Columbia today (Sat. 1 June) after 12 pm. 

The Victory of the Light took off. Prepare your Passports. The Journey to the New World has arrived. Congratulations and Best regards.”

This came through last night. I received another message from a very strong contact, a Whale, from Zurich, saying he got the same message. I don’t follow TNT much, but it came through on their call saying that every contact and agency says, “It is a go today.” This may be in line with what we have received from Brazil. 

Reno – I have been told, is about to kick off.  I am waiting to get a call from my source in Reno and hopefully we will get that done. 

So, by next week, everything will be looking beautiful. The foundations are all funded. They are ready to go. So, get ready to meet the new world.

This is not a rumor. This is fact that is coming through. I am hoping and praying this is my last call and my next call will hopefully be the opera. Have a beautiful day. I am hoping I get that call from Reno today. If I do, then I will have an EMERGENCY LIVE CALL for you all. Obviously if I am allowed to send that opera, I will. Take care, Wolverine

Global Financial Crisis:

In the first Quarter of 2024, US Commercial Banks reported a cumulative unrealized loss of $517 billion on their securities holdings. Pretty wild. Remarkable you don’t hear about this more in the media. https://t.me/USDebtClockAmerica

The privately owned Federal Reserve has Money Laundering US Taxpayer dollars since they were founded in 1913.

The Yen will be the first to fall. Japan’s Record Spending Unable to Stop Yen’s Destruction. https://ai3d.blog/currency-system-failure-the-japanese-yen-will-be-the-first-to-collapse/

Read full post here:  https://dinarchronicles.com/2024/06/03/restored-republic-via-a-gcr-update-as-of-june-3-2024/

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Courtesy of Dinar Guru:  https://www.dinarguru.com/

Militia Man   Article: "Parliamentary Finance resumes its meetings regarding the budget in preparation for voting on the schedules"  Quote: "Parliament decided, according to the agenda, to hold its twenty-seventh regular session next Monday..."   I am not sure how long voting will take on the paragraph. But, if they are going to vote to do a budget at 1310 that would have a deficit of 64 trillion that would not be good for the people and they want to see another term in office they'll need the 3 zeros to be removed from the exchange rate. If there isn't a removal by Al-alaq they'll be in a pickle be sure.

Nader From The Mid East  'Nader you said it was going to happen in June.'  No I didn't say in June happen.  I said June they're a possibility for them to work on the dinar because each time they worked on him it's between June and August...They created a new white paper.  They're going to start working on the exchange rate and I think from here to the 8th of July.  We'll see what's going to happen.

China Says NO to IMF and World Bank: What Next?

Fastepo:  6-2-2024

China has been actively developing alternative financial institutions to reduce its dependence on US-based organizations like the World Bank and the IMF.

This strategic shift aims to enhance China's influence in global financial governance and provide a more diversified financial landscape for developing countries.

Two key institutions in this effort are the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB).

In this video, we delve deep into China's strategy to reduce its reliance on Western-led organizations.

https://www.youtube.com/watch?v=TO1ngIW7rMA

Goldilocks' Comments and Global Economic News Sunday Evening 6-2-24

Goldilocks' Comments and Global Economic News Sunday Evening 6-2-24

Good evening Dinar Recaps,

"This joint proposal from the Bank of England and the Financial Conduct Authority (together, “the UK regulators”) for a digital securities sandbox (“DSS”) reflects a commendable commitment to incorporating innovation into the financial system."

A letter was sent to the Digital Securities Sandbox joint Bank of England and Financial Conduct Authority regarding this consultation paper.  

If all goes well in this pilot phase / sandbox movement forward, all would commence so long as the United States doesn't have anything further to add from the new Markets in Crypto Assets (MICA) regulations.

This consultation paper will be added to the current work taking place on legislation in Washington. See Rep. McHenry, Patrick T, H.R. 7440 – Financial Services Innovation Act of 2024, US Congress (Feb. 23, 2024). 

The purpose of this consultation letter is to make it clear the intended role of the new Digital Financial/Payment System will take going forward.

The following is the stated purpose: "A sandbox is designed to generate real-world insights about whether distributed ledger technology (“DLT”) could streamline the issuance, trading, and settlement of securities without undermining investor protection, market integrity, or financial stability."

These new regulations under the authority of the FCA has the potential to change the way settlement processes are being done, and this concerted effort is to affirm coordinated actions inside of a sandbox to make sure the US and UK can coordinate and implement a final phase by the end of June when it becomes law.  SEC   Bank of England   The Financial Conduct Authority   DFSA  

© Goldilocks

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We should see a lot of legislative bodies here in the United States and abroad get very active this month regulating and moving virtual assets into law inside the new Global Digital Economy.

© Goldilocks

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Chairman of the Finance Committee: We are ready to present the final report on the budget schedules | Iraqi News Agency

"Baghdad-INAThe Parliamentary Finance Committee announced today, Friday, that it will continue revision and reviewing the 2024 budget schedules to complete it on time in order to vote on them in Parliament, while confirming its readiness to present the final report on the budget schedules in next Monday's session."

This meeting on Monday is regarding budget schedules. No mention of exchange rate changes is expected to be a part of this meeting.

© Goldilocks

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How AI is Paving the Way for a New Era in Financial Services - The Global Treasurer

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Mastercard and HSBC Middle East accelerate travel payment innovation through bank’s first wholesale travel program | Mastercard

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In the Face of Unrelenting Change, Corporations Embrace Innovation and Leadership  |  The Global Treasurer

Corporations today must adapt to constant change to stay competitive, with corporate treasuries leading the charge in managing liquidity and risk.

The introduction of ISO 20022 marks a significant shift in corporate payments, offering a unified standard that promises enhanced transaction transparency and speed.

Corporate treasuries are redefining their strategies to leverage this standard, expanding their roles to include innovative technologies for efficiency and cost reduction. 

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IMF Calls Zimbabwe's Switch To A Gold-backed Currency An "Important" Step | Pindula
The introduction of ZiG represents an important policy action accompanied by several complementary policy changes — including monetary, exchange rate, and fiscal policy measures.

Having a gold standard stabilizes prices and foreign exchange rates.

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US unveils policy to boost carbon offset market integrity | Reuters

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As society accelerates its decarbonization journey, the resource inputs necessary for this energy transition are appreciating in value. This article will spotlight the pivotal role of copper in this transition and the ETF solutions that enable investors to tap into this burgeoning market.  |  ETF Market

👆  Goldilocks pointed to this article

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