Great moment from last night's press conference
Vivek Ramaswamy takes a jab at the media when a young journalist asks about BRICS and the value of the dollar: “I’m sorry, sir. Intelligent questions are not allowed” 😂
But he's got an in-depth solution that is probably the only way to save our country at this point!
https://x.com/BradNicholsX/status/1745118648262431113?s=20
Vince Miller, senior market strategist with the Birch Gold Group, puts it simply: “Over the years, the dollar has increasingly becoming an albatross around the neck of foreign financial institutions. They were already getting tired of having to play our games, and now FATCA may very well be the last straw that pushes them to throw up their hands in disgust and walk away from our imposed headaches.”READ MORE
So if you look at what is going on from a thirty thousand foot level, you have a multitude of factors pressuring the reserve currency status of the USD. The Russians and the Chinese are leading the BRIC countries to dump the dollar as a trade settlement vehicle. FACTA will push countries all over the world to stop dealing with American clients and to stop using the dollar altogether.
The largest natural gas producer on the planet, Gazprom, has signed agreements with some of their biggest customers to switch payments for natural gas from U.S. dollars to euros. And Gazprom would have never done this without the full approval of the Russian government, because the Russian government holds a majority stake in Gazprom. There hasn't been a word about this from the big mainstream news networks in the United States, but this is huge.READ MORE
You've probably read many articles about money--what it is (store of value and means of exchange) and its many variations (metal, paper, etc.). But perhaps the most important distinction to be made in our era is between metallic money and credit money.READ MORE
Longtime correspondent Jeff W. succinctly explains the difference between metallic money (gold and silver) and credit money:We use credit money every day. It’s the only kind of money we have. But because people in Europe and America have historically used metallic money for over 2,500 years, we still have cultural habits that come from the gold money era.
When the U.S. removed gold and silver coins from circulation in the 1930’s and 1960’s and replaced paper gold certificates and silver certificates with Federal Reserve notes, the paper money looked very much the same. But the thing that the paper money represented changed dramatically. The paper money now represents units of credit money that have no guaranteed relationship with the prices of gold or silve r or anything else.
Because the nature of credit money and metallic money are not well understood, and because money is so important in our lives, it is worthwhile to examine and discuss how these two kinds of money are different.
The events of the past six months are consistent with a process of disintegration, while the process of integration has steadily weakened. The question is no longer, “Will Europe unravel?” We should be asking, “Can European disintegration be reversed?”READ MORE
The trigger that brought integration to a halt and set disintegration in motion is surprising.
It’s maybe 50 or 60 pages, I’m not certain. It describes an economic collapse in the U.S., followed by an attack on the government by “a made-up patriotic group.” It combines gun owners, Constitutionalists, and even Christians into an enemy group that pulls off an attack in Washington. But don’t fall into the trap of trying to pick the time of these events. Their plans are flexible, but their objectives are carved in stone.EXCERPTS TAKEN FROM CANADA FREE PRESS:
Two days after the inauguration, at exactly 7:00 a.m. on January 23, something called “the Cyber-Warriors for Obama Project” was activated. I heard about this the week after the election, but only saw a hardcopy draft in late December. From what I was told, I believe this is a project that is being paid for through funds from Obama’s political corporation, the 501(c)4 Organizing for Obama, I believe it’s called. I can’t be sure, but that’s what I was told. . .
The sudden collapse of the U.S. dollar (however it actually plays out) and everything that goes with it (such as social chaos and riots) will be one part of a plan that was set in motion a long time ago. . .
Like I said, it’s been in the works most recently since the 1990s. A collapse does not happen without a lot of pain -people losing everything in their retirement accounts, savings and so on. Don’t you think that will cause one hell of a national security problem? And who is running our national or domestic security? DHS. . .
Think about Obama’s mother working in microfinance with Timothy Geithner’s father. What are the odds? And that’s just one “coincidence.”
his sources tell him the concerns of the DHS stem from a collapse of the U.S. dollar and the hyperinflation a collapse in the value of the world’s primary reserve currency implies to a nation of 311 million Americans, who, for the significant portion of the population, is armed.READ MORE
...it’s not just euro-bonds that China is accumulating. They’ve been buying gold (only admitting it after the fact), and farmland and mines in Africa and Latin America. So the quality of their portfolio is rising as it shifts towards hard rather than financial assets.READ MORE
As the article also notes, China’s scaling back of its dollar holdings in relative terms hasn’t caused the dollar to tank because the rest of the world is so troubled that money is flowing into dollars by default. This is probably temporary. Either the rest of the world gets its act together and begins to look safe again or the US is sucked into the maelstrom of a eurozone implosion or Middle East war or whatever. Or our ongoing debt binge finally gets the scrutiny it deserves and even in an unsafe world the US is discovered to be fundamentally unsound.
So for surplus countries the dollar’s recent exchange rate stability is a great chance to sell into strength and accelerate their diversification programs. Next year’s numbers will probably show another big shift out of dollars.
Why does it matter what China or any other country does with dollars the US has already created and spent? Because the foreign exchange markets are where the dollar’s value is determined, and the numbers are now huge. There are maybe $3 trillion in the vaults of just a handful of countries, all of whom want to protect their investment and none of whom trusts the US to do it for them. If China is seen as easing itself out of dollars without adverse consequence, then the other big dollar holders will be tempted to follow suit. The result: a growing number of sellers, which will eventually send the dollar down at an accelerating rate, which will cause the remaining dollar holders to panic and head for the exits. Trillions of dollars being converted to hard assets or euros and yen (or Mexican pesos or Brazilian real) all at once is a currency crisis that the Fed won’t be able to stop.
Traders were also digesting comments from Federal Reserve chairman Ben Bernanke, who told Congress Wednesday that despite a strengthening economic recovery, the unemployment rate remains high while inflation is "still quite low."Read more
Tit-for-tat trade remedies won’t improve U.S. competitiveness, but can undermine the international trading system.Do you really think most of us will have even a "pot to piss in" (an old phrase my Mom used to use) after this guy gets done screwing around with America?
The currency issue will be a major topic at the G-20 meeting Obama will attend later this week in Seoul. But the talks that the U.S. had hoped would pressure China “now appear to be a disaster,” and won’t reach a meaningful deal Nov. 11 as planned, according to Morris Goldstein, former research director of the International Monetary Fund.Barack Obama can’t escape economic debate
Alias Barack Obama: a lie is born: The greatest identity fraud in history Paperback – July 10, 2012
