Prince said Finance News: In response to the hegemony of the US dollar, Nick Giambruno, chief analyst of the market research firm Casey Research, wrote an article warning that the hegemony of the US dollar is about to end, and five warning signals have appeared.
Jambruno said these five things indicate that the doomsday of US dollar hegemony is coming. Specifically:
1) Russia's assets are frozen by the West, which proves that the US dollar reserves are "not real money";
2) Russia's natural gas , oil and other commodities are "linked" to rubles , gold and Bitcoin;
3) All countries are starting to settle in non-US dollars, and the petrodollar system is on the verge of collapse;
4) Out of control of money printing and record price increases in various countries;
5) Feder main Sea-Powell even admitted that the dollar hegemony has "dead".
Jambruno said that it is well known that China and Russia have been hoarding as much gold as possible for many years.
The analyst said that China is the world's largest gold producer and buyer, Russia ranks second, and now most of the gold has entered Russia and China's treasury.
Jambruno said: "Russia has more than 2,300 tons of gold, or nearly 74 million troy ounces, and is one of the largest gold reserves in the world. No one knows the exact amount of Chinese gold , but most observers believe that this is more than Russia's reserves!"
In addition, Jambruno also emphasized in particular that it has been remembered that for more than 2,500 years, gold has been the most lasting form of currency in human beings because of its unique characteristics: suitable for storage and exchange value. In addition, gold is durable, divisible, consistent, convenient, scarce, and most importantly: it is the "hardest" of all physical commodities.
In other words, gold is the "hardest product" (relative to existing reserves) physical commodity, so it is also the most anti-inflationary one. This is the superior monetary attribute of gold.
"Russia and China can use their gold to participate in international trade , and perhaps support currency. That's why gold is a real currency alternative to the US dollar, while Russia and China have a lot of gold," added Jambruno. "This is also the real reason why China and Russia have been keeping gold."
Finally, the analyst also warned that they (China, Russia, etc.) have been waiting for the right time to break the dollar's decline, and now is that opportunity.
Jambruno explained: "This is a big problem for the U.S. government, because the U.S. dollar is the most important reserve currency in the world, and the U.S. government has gained immeasurable power. It allows the U.S. to print counterfeit coins out of thin air and export real goods and services to the rest of the world, a privilege that no other country does not have."
Although currently, gold from Russia and China may also form the basis of a new monetary system that is not under the control of the U.S., these measures will be the last nail to end the dominance of the U.S. dollar.
The 5 signals mentioned at the beginning of the article also indicate that some big things may happen soon.
What do you think about this? What do you think will be the hegemony of the US dollar next?
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