There has been a lot of talk lately about de-dollarization. As just one example, the BRICS nations recently announced they are developing a new currency. Peter Schiff recently appeared on Commodity Culture with Jessie Day to talk about the trajectory of the dollar. He said that the death blow for the dollar is coming. And when it does, people will run to gold.
There has been plenty of speculation about de-dollarization recently, but is it a real threat, or is all of the talk just hyperbole?
Peter said, “None of it is hyperbole, and all of it will come to pass.”
The only thing that’s surprising about the dollar’s reserve status is that it still has it. Despite everything we’ve done, we still have it.”
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He’s not wrong. But we have to stop FEDNOW right f-ing now.
https://www.banned.video/watch?id=6414cb05605edf539c4941f2
Yesterday, I told US Rep Patrick McHenry that I would start a recall campaign against him if he doesn’t get his ass out in front of this and get it STOPPED.
Anyone out there in NC want to help in your area, e-mail me at:
allcomm1@protonmail.com
I am also doing ethics complaints against ANY official in ANY government office who doesn’t respond to my questions or requests.
How can you recall a politician in a state that has no recall mechanism?
“And when it does, people will run to gold.” Physical specie has been unobtainium for the vast majority of “people” for some time now. I don’t know anyone who could afford an ounce of gold, let alone the pounds it would take to properly hedge for a de-dollarization/hyperinflation scenario.
https://sdbullion.com/gold/american-gold-eagle-coins/1-10-oz-gold-eagle-coins
Not calling your observation into question, but the poor in this country have more resources than most and spend money that is available on all kinds of stupid and expensive things like cigarettes, alcohol, big screen televisions, cable tv hookups, drugs, tattoos, jewelry, sneakers, designer clothing, fast food, automobiles. With a minimal amount of foresight and discipline, anyone could have enough for an ounce of gold in a reasonably short time. For the same money they could load up on more silver then they can carry. These qualities are often in short supply in underperforming individuals, and the draw of vices and entertainment is too strong.