Loading ...Europe Has Been Preparing a Global Gold Standard Since the 1970s. Part 2
There is more evidence of how European central banks are equalizing their monetary gold reserves proportionally to Gross Domestic Product (GDP). Secret agreements make countries sell or buy gold to balance gold reserves within Europe, and relative to large economies abroad. Evenly distributed gold reserves are a requirement for a stable transition towards a gold standard whereby concurrently the debt overhang can be extinguished. Europe has been preparing for this reset.
https://www.gainesvillecoins.com/blog/europe-preparing-gold-standard-part-2
While this would be great, how does he explain why the UK eliminated all their gold in late 1990’s. Didn’t see any mention about the UK nor has there been any public word of UK buying any gold since. It seems the US, Britain and Canada have gone in the opposite direction from France, Switzerland and other European countries.
The gold reserves in the article are understated. In reality:
1. Russia has 12,000 tons of gold reserves, more than the USA (who may not have any in reality).
2. China has a whopping 50,000 tons
This will form the basis of a commodity backed currency, being implemented by the BRICS+, the SCO and the global south.
At the end of the day, all fiat currencies are backed by debt, so an I owe you. It just takes a few high profile defaults for the confidence to be lost.
Physical gold or silver in hand has no counterparty risk.
Any unit of value that requires electricity to maintain it’s worth is subject to failure. That’s where we are now.
I thought that the world’s currencies would lose confidence in the Fall of 2019. Boy was I surprised when a false flag (Covid) allowed for the temporary bailout (rapid expansion of the monetary base) that was committed under the guise of Covid. I believe the World’s Governments know that they need to keep the money printing going to prevent the collapse. Thus the constant message of Covid. They don’t want to let it go.
Of course this is making the inevitable worse when it comes. That’s why the Central Banks need inflation without the crippling high rates.
When the currency dies, one can measure the purchase of a home in ounces of Gold at the bottom. Likely will need more ounces of Gold to buy a home compared to the Weimar Republic.
When gold is repriced, we would have an immediate deflationary event.
Canada lists no Gold reserves but can tap into a few well stocked ETFs. Again it’s not in your hand. It’s only held electronically, backed by a paper record.