There is a quiet revolution taking place in the monetary vacuum that’s developing on the back of the erosion of the dollar’s hegemony. It is perhaps too early to call what’s happening to the dollar the beginning of its demise as the world’s reserve currency, but there is certainly a move away from it in Asia. And every time the Americans deploy their control over global trade settlement as a weapon against the regimes they dislike, nations who are neutral observers take note and consider how to protect themselves, “just in case.”
That’s where we are now. Western elites cannot but worry when central banks in China, Russia, India and Turkey actively increase their physical gold stash; when Moscow and Beijing discuss launching a gold-backed currency system to replace the US dollar; when the IMF warns that the debt burden of the global economy has reached $237 trillion; when the Bank for International Settlements (BIS) warns that, on top of that there is also an ungraspable $750 trillion in additional debt outstanding in derivatives.
Hello and welcome to this weeks Metals and markets wrap. I am your host James Anderson of SD Bullion filling in for our regular host Elijah Johnson.
It is noon eastern, on Friday June 8th 2018.
Today’s returning guest is Alasdair Macleod of GoldMoney Research. Alasdair’s financial experience ranges from equity and bond markets, fund management, corporate finance and investment strategy.
Thanks for taking the time to hear Alasdair inform you and our audience on what his research and findings are related to the ongoing eastern Gold Bullion strategy and structural Monetary Reforms to come.