Central Banks Continue Buying Gold
BRICS countries continue buying gold at a record pace as dedollarization continues.
Federal Reserve
What is Fiat Money?
Unlike commodity money like gold or silver, which have intrinsic value, fiat money has no inherent value. Its value is solely based on the trust and confidence that people have in the issuing government. If that trust wanes, the value of fiat currency can be at risk and individuals and everyday workers will continue to see the purchasing power of the dollar diminish over the years. It can impact the ability to save for the future and plan for retirement.
Florida and Indiana Ban Use of CBDC
Both Florida and Indiana have recently passed laws banning the use of a central bank digital currency (CBDC) as money in those states.
These laws explicitly exclude a CBDC from the definition of money in Florida and Indiana, effectively banning its use as such in these states.
Texas Committee Passes Bill To Create 100% Gold And Silver-Backed Transactional Currencies
Legislators in Texas are leading the charge against the Federal Reserve’s monopoly on fiat money by offering an option for people to conduct business in sound money.
Physical gold and silver that would support the backing of the digital currency would be stored in a pooled account at the Texas State Bullion Depository.
Demand for Silver Eagles Spikes, Along with Premiums
The US Mint continues to be slow and unable to meet investor demand.
The failures of the Mint and their planchet suppliers have led directly to significant increases in dealer premiums in recent weeks. This week, the lowest dealer premium for silver eagles is more than 60% over spot price.
Some dealers, such as APMEX and JM Bullion are currently selling silver eagles with premiums at over 88% above spot price.
Saudi Arabia Taking Active Steps to End Petrodollar Dominance
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.
Texas Bill Proposes Gold-Backed Digital Currency
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.
Preparing for the Impending CBDC Crisis
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.
Transitioning to Gold Backed Digital Currencies for Trade Settlements
The global economy is shifting back towards some form of a gold standard while the Federal Reserve is piloting various CBDC projects, new legislation introduced in Congress to block the Fed from issuing individual accounts
New Global Gold Standard Emerging from Recession
The Bretton Woods Accord led to the dollar emerging as a reserve currency.
Following World War II, the US had the largest gold reserves.
Bretton Woods provided fixed gold prices that was pegged to the USD making it the central spoke for trade.