Insane Panic Ahead! Gold & Silver Prices Will Rise DRAMATICALLY When This Happens - John Rubino
Insane Panic Ahead! Gold & Silver Prices Will Rise DRAMATICALLY When This Happens - John Rubino
Countries around the globe are ramping up efforts to reduce their reliance on the US dollar, accelerating a trend known as de-dollarization. This shift stems from concerns over the United States' monetary policies, including hefty spending and sanctions, which some experts argue have destabilized global financial markets.
John Rubino, a seasoned financial analyst and founder of DollarCollapse.com, asserts that the US has long abused its privilege as the world's reserve currency, prompting other nations to seek alternatives. India, a key player in the geopolitical landscape, is distancing itself from the dollar. Recent reports indicate that India and Malaysia have expanded the use of the Indian rupee to settle trade transactions, signaling a move away from reliance on the dollar.
Rubino highlights a growing trend of countries opting for bilateral trade deals conducted in local currencies, accumulating gold reserves, and exploring the creation of alternative currencies. For instance, China and Brazil have struck a deal to conduct trade using their currencies, bypassing the need for the US dollar as an intermediary.
Rubino points out that the appeal of gold as a neutral reserve asset is also gaining traction. Unlike holding large amounts of US dollars, which can be politically charged, gold provides stability without aligning with specific geopolitical interests. This sentiment is reflected in the voracious buying of gold in recent years, with global official gold reserves increasing by 290 tonnes in the first quarter of 2024. This surge represents the highest quarterly total since 2000, underscoring the continued momentum behind the shift towards alternative reserve assets amidst a renewed rally in gold prices.
The enduring trend of central banks bolstering their gold reserves remains robust, particularly driven by emerging market institutions. During the first quarter, ten central banks reported notable increases in their gold holdings, consistent with recent quarters.
Central banks in East and Central Asia led the charge in Q1, with significant net purchases. Notably, the People’s Bank of China sustained its momentum from previous periods, augmenting its gold reserves by 27 tonnes during the quarter.
John Rubino emphasizes that both individuals and nations are intensifying their gold acquisitions. Chinese demand for gold has surged in recent years, with even major retailers like Costco now catering to this trend by offering substantial quantities of gold coins to meet rising demand.
The United States implemented extensive monetary and fiscal stimulus measures, followed by a dramatic tightening of monetary policy to curb runaway inflation. However, these measures have stirred significant disruptions in global financial markets. Rubino suggests that amidst concerns over the stability of fiat currencies, particularly the US dollar, there is a noticeable uptick in individuals and countries turning to gold. This shift is propelled by a lack of confidence in government currencies and apprehensions regarding inflation's erosive impact on purchasing power.
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