Trump's flip-flop & the Petro-Dollar

Luke gives one of the best overviews of what's going on the world and why. He has his finger on the pulse and has pulled the seemingly diverse fragments together to explain what's really going on and why.
Hold on for the ride - he talks fast! You may need to pause or replay a bit if there's a lot of information that's new to you; but that's why it's worth viewing!
Please all questions or tell me what you think.
https://youtu.be/1S673lxOCBc

Gold on the global merry go round!

Does anyone really know what's going on with gold recently? Maybe a few supra-national shadow players, but that has to be about it!

Switzerland has been a major safe haven for gold for many years. Many countries around the world get Switzerland to hold a good percentage of their gold for them, deeming it to be one of the most secure places in the world. It's also a major refiner of gold.

So what am I confused?

Venezuela has exported massively to Switzerland because the country is falling apart.

However many EU countries are either talking about or already repatriating their gold, thinking is not secure in New York, Ottawa or Switzerland.

The USA has historically pushed all their gold to Switzerland for safe keeping. Yet, in a sudden turn around, Switzerland has exported massively to the USA. Alarm bells rang in many camps!

It's like musical chairs!

Commentators will allude to monetary policy, political instability etc when talking about these things, but no one thought we'd see Switzerland divesting itself is gold! The only obvious reasons are fear of natural disaster or massive industrial accident (yes, CERN has really been pushing the boundaries dangerously). But wait, there's one more. Fear of war.

Some commentators say Europe is in danger of civil or religious war due to conflict with Muslim immigrants ; others say war with Russia is an imminent threat. If so, gold may not be safe in Switzerland.

Go figure! There's a verse from the Bible comes to mind when I think about hanging on to gold, from Matthew 19:

23  Then Jesus told his disciples, “I tell all of you with certainty, it will be hard for a rich person to get into the kingdom from heaven.

 24  Again I tell you, it is easier for a camel to squeeze through the eye of a needle than for a rich person to get into the kingdom Of God.”

The 'Eye of the Needle' was apparently a small gate in the wall of the fortified Jerusalem City, that a camel could only get through of its load were removed and it went on its knees. That's the analogy for the rich today who sell to preserve their wealth. You can get into heaven if you are willing to unencumber yourself of riches and get on your knees before God.

So so knows what will happen with gold? God does. Maybe a few shadow players do. For me, I'm unencumbered by wealth and happily on my knees, confident in God's grace and my place in heaven.

Some reading from a quick Google search...

https://www.bullionstar.com/blogs/koos-jansen/venezuela-exported-35t-of-its-official-gold-reserves-to-switzerland-in-january/

https://www.rt.com/business/209591-gold-europe-gold-repatriation/

https://en.m.wikipedia.org/wiki/Gold_repatriation

And them some! Some nations are getting to get an alternative global trading currency going. The BRICS countries have made an effort. China and some Asian partners have also. And lastly, China itself has too, and has now floated its gold backed currency. Implications? Who knows!

One thing I do know though is USA owes China massively, and China is not willing to take payment in USD any more, or in US Bonds. I imagine if USA has to fund its way into this new trading platform, gold may be a necessary commodity. Now that would upset the apple cart! Some countries would even go to war rather than have the benefits and profits of their globalist currency usurped! Let's hope not...

CASHLESS S0CIETY C0MING REAL S00N.

I've been keeping a good eye on global financial happenings. One thing I know - cashless society is coming soon. How do I know that? If was slipped in almost incidentally on a Channel Nine news broadcast a few nights ago! It was done so calmly and at the end of global political and financial news.

I've never heard an 'imminent' announcement like that before. It's almost like you would have had to be watching for it to catch it. And people are so consumed with the possible collapse of Europe and the needs the USA and China are in, that a statement like that seems perfectly reasonable in that context.

And that's the way it will come. It will be PERFECTLY REASONABLE.

What would tip the world as a whole into a position where a cashless society would be acceptable? For the general populace, if it allayed fears, it would be enough; and so many countries are effectively socialist / fascist now ; with social security systems and give businesses partnering with government. Just a bit of a tilt to cause a panic and it would be reasonable to take action to make things more secure, less able to be put out of kilter. After all, we really have had enough of the booms and busts, the panics and instability. Even if we haven't had it in our own country, we've had it on our TV screen, accompanied by dramatic interviews and footage. No one really feels immune. Everyone just wants a bit more certainty...  please!

So will it come as a reaction to a local or regional problem? Possibly. But it's more likely everyone, everywhere will feel it. Look at what happened to the markets with BREXIT. Things went really wobbly.

If Europe crashes financially or the EU falls apart, that would do it.

If the USA, which can't pay its interest bills, has the screws put on by the international bankers, that would work too. Probably. But how?

The answer lies in an institution everyone thinks belongs to the US Government. International bankers (Rothschild's,  Rockefeller's etc.) actually own the USA Federal Reserve. They choose to print and supply their 'fiat currency' (ie.  not real money) to the USA Government. You got it  -  the only material costs are the paper they use and the ink! Why is more money needed? Because the USA Government can't pay its interest bills, the government has to borrow more money to pay them! Does this remind you of your Visa card? So the Federal Reserve prints more money for each interest payment. They lend it to the USA Government so the government can use it to pay the interest back to the 'banksters'; are you beginning to understand why they have that nickname? Just by just refusing to print more money, so more money can't be lent to the US Government to pay the interest bills back to the Federal Reserve, the globalists could crash the USA financial system and this the default international trading currency.

Why haven't they already? I don't know - ask them yourself!

OK,  so you want me to take a stab at it. I reckon it's because the good old 'petro dollar' was studying for them. It is the default international trading currency, used by the SWIFT system due international settlements because... wait the it...  Because the USA made a deal with the Saudis in the 1970s (remember the Middle East Oil Crisis) that the Saudis would only accept US Dollars as payment for oil provided the USA established a fully functional military base in Saudi Arabia to protect them.

Now the BRICS Countries (originally BRIC: Brazil, Russia, India & China; now BRICS because South Africa has entered) have established a trade block and are firing ahead with an alternative to the USA for international trade. China and some other Asian countries are doing the same. If any of these succeeds in healing the dominance of the USD for international trade, all security and usefulness for the USA will be gone...  right down the toilet.

Back to the bit about 'coming soon'. So a number of crises currently being around the globe could be the trigger ; and any one of them will likely have a global effect.

Is there any telling when the cashless society will start? Currencies going out of control would be a good precursor. Banks collapsing, or significant runs on the banks would also be a fairly sure sign. Runs on banks have happened before, even in Australia according to an accountant friend of mine; about the time if the GFC if I got it right. My friend was watching and got his money out if a mid sized bank - pronto. Of course it would be bad for public stability if we heard about certain things too clearly in the media; I certainly didn't hear about it.

So a major case of the worries about the financial system globally; a bank collapse ; a run on a bank; really significant fluctuations in currencies or a currency crash would all be solid indicators.

If the system goes a bit silly during a crisis, banks will likely reduce the amount of cash you can withdraw ; mandate electronic transfers only or even shut their doors temporarily.

What can you do to prepare? Firstly, try to keep a few weeks of cash supply at hand. Secondly, have sufficient stocks of foods like rice, lentils and powdered milk in your home. Lastly, if 'fiat money' (yes, including the Aussie Dollar) doesn't transition clearly, it may last most of its worth. What then? Certainly foods as stated. But previous metals also. Silver and gold. To me, silver is preferable even though it's bulkier because it's used in manufacturing and hasn't

Can you prepare?

B. T. W. Since wiring this article some days ago, I've heard Google are bringing their wallet to Australia, with broad support from banks. That is a very large step towards found cashless. Almost everyone has a smart phone ; even my 83 year old mum. All the government would need to do is sponsor the technology uptake like it did worn the digital TV set top boxes,and pretty soon, everyone would be capable of cashless.

U.S. dollar could 'collapse': UN - (really?)

Some time ago, I wondered if the US Dollar would collapse, sending the world into chaos. Subsequently, I came to the opinion that is unlikely for two reasons:

1. Mystery Babylon", which I believe to be the USA, is still the main player, flying the flag internationally, seemingly controlling the oceans, and being the centre of trade, when Lord YHWH judges her.
2. There has been much talk of a one world currency, with plans to implement it. Obama has been negotiating with Russia for a couple of years now, and he is very likely a front man for the NWO (judging by the 'quantitative easing packages' and other signs), who will likely want to transition to a world dollar in the most optimal manner to preserve their assets. This means the central banking system that spans from the USA, which is not owned by the USA Federal Government, but by the NWO, will probably transition to become a major part of the One World Integrated Financial System.

So, having said that, here's a recent article worth comment:

U.S. dollar could 'collapse': UN
BY PATRICK WORSNIP, REUTERS MAY 25, 2011 COMMENTS (13)

UN economists have for some time queried whether the dollar should continue to be the world’s sole reserve currency. Others have also expressed concerns about U.S. finances.

Photograph by: Nicky Loh/Reuters, Nicky Loh/Reuters

UNITED NATIONS – The United Nations warned on Wednesday of a possible crisis of confidence in, and even a “collapse” of, the U.S. dollar if its value against other currencies continued to decline.

In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system.

The report, an update of the UN “World Economic Situation and Prospects 2011” report first issued in December, noted that the dollar exchange rate against a basket of other key currencies had reached its lowest level since the 1970s.

This trend, it said, had recently been driven in part by interest rate differentials between the United States and other major economies and growing concern about the sustainability of the U.S. public debt, half of which is held by foreigners.

“As a result, further (expected) losses of the book value of the vast foreign reserve holdings could trigger a crisis of confidence in the reserve currency, which would put the entire global financial system at risk,” it said.

The 17-page report referred at another point to the “still looming risk of a collapse of the United States dollar.”

Rob Vos, a senior UN economist involved with the report, said if emerging markets “massively start selling off dollars, then you can have this risk of a slide in the dollar.

“We’re not saying the collapse is imminent, but the factors are further building up that we could quickly come to that stage if other things are not improving quickly on other fronts — like the risk of the U.S. not being able to service its obligations,” he told Reuters.

UN economists have for some time queried whether the dollar should continue to be the world’s sole reserve currency. Others have also expressed concerns about U.S. finances.

Standard & Poor’s threatened on April 18 to downgrade the United States’ prized AAA credit rating unless the Obama administration and Congress found a way to slash the yawning federal budget deficit within two years.

A downgrade would erode the status of the United States as the world’s most powerful economy and the dollar’s role as the dominant global currency.

Treasury Secretary Timothy Geithner said on Wednesday the U.S. government would “never default on its obligations.”

ASSET BUBBLES

Assessing the broader global economy, the UN report said recovery from the 2008 financial crisis continued to be led by China, India and Brazil, but that their growth outlook was moderating due to fears of inflation and domestic asset price bubbles.

It took a slightly more optimistic view of world growth prospects than it did six months ago, forecasting 3.3% expansion this year and 3.6% in 2012, compared with 3.1% and 3.5% respectively.

The United Nations uses a different exchange rate calculation than the International Monetary Fund and the Organization for Economic Cooperation and Development, making its global growth figures slightly lower.

It boosted its forecast for U.S. gross domestic product growth this year from 2.2% to 2.6% but kept next year’s estimate steady at 2.8%.

The report cut Japan’s growth outlook this year by more than a third to 0.7% following March’s catastrophic earthquake, tsunami and nuclear plant crisis. It put damage to buildings and infrastructure at about 25 trillion yen (US$305-billion) or 5% of GDP.

Despite a recent surge in oil prices, it predicted that barring major disruptions from political unrest in the Middle East, they would level off at an average $99 a barrel this year — close to the price of U.S. crude on Wednesday — and fall to an average of US$90 next year.

“Supply and demand conditions do not warrant a continued upward trend,” it said.

Food prices have also been soaring but the report said better harvests were expected to moderate them in the second half of this year.

© Thomson Reuters 2011

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