A Gold Backed Currency?

Goldbugs have been hollering for years why we need a gold backed currency.

And except for the BRICS nations (Brazil, Russia, India, China, and South Africa) their plea for a gold backed currency has fallen on deaf ears.

Rightfully so.

However, in the interim there seems to be speculation that the BRICS are ready to introduce a gold backed currency to displace the dollar as the world-reserve-currency.

But that’s not likely to happen.

Why?

Just like the failed policy of the creation of the EURO, it would require:

1. A central monetary authority
2. Surrender of sovereignty…as Europe did to Brussels
3. End any possibility of QE
4. This would restrict governments power to create money at will, allowing them to retain power and exert it in their endless wars thanks to the Neocons

Why a Gold Backed Currency?

But the real argument behind a gold backed currency is that its quantity is limited. 

However, over the centuries, the silver/gold ratio has fluctuated anywhere from 8:1 to 120:1. From this perspective, the real objective here is to prevent the government from creating money at will.

But the real objective here with the issue of BRICS is that both Russia and China object to the dollar being the reserve currency in the middle of geopolitical tension.

And yet the Biden Administration has undermined everything by removing Russia from SWIFT.

Unfortunately, this is what set-in motion the collapse of globalization.

And it has shown the world that the US now controls the SWIFT system…which (Ironically) renders it no longer politically neutral.

Meanwhile, the IMF (International Monetary Fund) is desperately trying to move in for the kill to replace the dollar with their electronic digital currency…CBDC’s

And the idea of a gold backed currency would create a conflict of interest everywhere.

Translation:  The chances of having gold backed currency are slim to none.

And slim already left town.

But…and this is a Very VERY Big BUTT…

With the ongoing – and accelerating – loss of confidence in government assures you that the price of gold will move up from here.

How high?

We are not making predictions on the price of gold.

But we are saying that you should add to your current gold and silver holdings.

And, more so, it is time to double down on your mining stocks.

So, be sure to see what precious metals mining stocks we favor the most in our July “…In Plain English” newsletter (HERE).

Share this with a friend…even if they don’t own and gold or gold stocks.

They’ll thank YOU later.

We’re Not Just About Finance

But we use our 113+ combined years of experience in the Financial World to give you hope AND expose corruption ‘Behind the Curtain.’

****************************