The American dollar system is broken. All of the major swings in the economy over the last few years that have been driven by political and policy-based initiatives have led to a decline in global trust of the American dollar. The ongoing banking crisis makes it more evident.
The mines in Egypt’s Eastern Desert represent an incredible source of income for the country. Gold from the El Sukari mine is already being used to grow the Central Bank of Egypt’s reserves which have recently been reported to have increased to 125 tons of gold.
Brazil’s international dollar currency reserves lost over $37.5 billion in from 2021 in 2022 due in large part to lower returns amid the US Federal Reserve’s rate hikes and dollar manipulation. While the country’s central bank reported gold holdings are valued at roughly $7.602 billion.
As the impact of the ongoing banking crisis begins to be felt at home, many Americans are shifting their priorities to protect their financial assets.
The shifting of and diversification of assets is likely continue at a rapid pace in the coming months as excess dollars and crypto funds are moved into hard assets like gold, silver, land, ammunition, firearms and stable food in the coming months as smart investors prepare for further economic hardship.
According to a recently released statement, JP Morgan Chase is the currently sole custodian of 459,485,125.800 troy ounces of fine silver on behalf of the Blackrock owned iShares Silver Trust (SLV).
Elected officials from both the Texas Senate and House have proposed complementary bills to create a state issued digital currency option that would be backed with gold and fully redeemable for either fiat cash or gold.
It is not a conspiracy theory that the central banks intend to use CBDC as a means of control. It was explicitly explained during their annual meeting in 2020.
Having a sizable store of central bank gold provides stability for a nation’s fiat currency, and gives confidence to foreign trading partners
Both the Perth Mint and the Royal Mint have announced huge increases in year over year sales of precious metals.
The latest report shows modest slowing of inflation in December, with the index showing that overall prices increased roughly 6.5%.