The next Pearl Harbour? China's Gold- Backed Crypto Currency will Blindside US Dollar, page-24

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10/12/19

06:21

Post #: 41880804
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Originally posted by aldo: ↑

It would seem apparent to most observers that there is indeed a move away from the hegemony of the USD however at this stage King Dollar still reigns. As the decoupling increases, other transactional systems will rise that do away with the need to use the dollar and or Swift payment methods and there will be peer to peer payments using these other methods.
For instance Russia and China now can transact in their own currencies and several European countries have entered into agreements to trade with Iran for oil in the Euro and thus bypass the weaponising of the USD which seems to "sanction" so many things. Crypto currencies are another way of moving away from the USD and China's introduction of a gold backed crypto will give more credibility to the use of this new style of money.
The United States has gained huge economic and political advantages through having the world's reserve currency but other countries want a slice of the pie and so the plethora of non US involved trade agreements and payment options will increase over time.
For now the United States still has the advantage but there is a definite loss of faith in their Fiat money. I strongly suspect we will see a weakening of the USD as other methods to pay for trade and goods eventuate.
This will be positive for gold as it is continues to do what it has always done which is act as a store of value and to give backing to currencies.

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You've been saying the same thing for years...gold up ...USD down.....how about admitting you've been wrong?
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0 Great analysis

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