Is This What Brings Gold and Silver Back to the Monetary System?

Is This What Brings Gold and Silver Back to the Monetary System? by Rory – The Daily Coin

We have been focusing on both Russia and China and the recent changes both nations have made toward the U.S. and, more specifically, the Federal Reserve Note, U.S. dollar. Russia has been extremely vocal for more than two years about their national security being threatened by the FRN and the payment system that is very dollar centric. While the SWIFT system is set up for all currencies, it is really a dollar based system that is controlled by the Federal Reserve and possibly the ECB.

Russia, back in April 2018, dumped a significant portion of their U.S. treasury holdings and then in May cut their holdings by a hefty 70%. With the second move by Russia their total holdings of U.S. treasuries dropped by more than 82%.

Now Russia is stating they are going to stop using Federal Reserve Note, U.S. dollars completely. Russia is also stating their allies (BRICS nations) will be following suit. Sanctions anyone? Well, I guess sanctions will have exactly a zero effect if Russia, and the other BRICS nations., hold no dollars.

Senator Igor Morozov says Russia must lead a dollar-dumping trend in response to the latest sanctions threat, as the move would bring disaster to the debt-ridden US economy and would be a good reply to Washington’s policies.

Russian Senator Igor Morozov has urged his country and its allies to stop using the US dollar for mutual payments, adding that the move would bring disaster to the debt-ridden US economy and would be a good reply to Washington’s sanctions policy.

Of course we must respond [to the latest State Department statement on sanctions against Russia] and the first step must be us together with our partners in a number of economic and integrational blocs stop using the US dollar and switch to national currencies. This is what we were talking about at the latest BRICS summit. This will be a reply not just from us, but from the whole international community that has wars started against it,” Morozov was quoted as saying by Gazeta.ru news site. Source

Sanctions are an economic weapon of war. However, if you have no ammo is there a war? If a nation sidesteps your currency can you hold them accountable to your standards of business? Can you or will you conduct business with that nation? It seems every nation on planet earth is willing to conduct to business, on mutual terms, with any nation as long as they can settle the currency. Every nation, with one exception – the U.S.

For Americans with their $21 trillion debt this can become a real disaster in the foreseeable future. This is why Washington’s reaction was so harsh and took the form of a new sanctions wave,” he said.

The senator said the US threats and unfriendly actions should not stop members of the international community who seek independence.

All countries that put national sovereignty into the foundation of their foreign policy should apply maximum effort to switch to payments in national currencies. A single country cannot create such conditions only for itself – a conglomerate is needed for this. And Russia is a major driver of such processes,” he said.

Morozov believes the US pressure on Russia was caused, at least in part, by recent agreements between Russian and China and Iran, which call for switching to their national currencies in mutual payments. He called such moves “the most powerful irritant for the USA.” He also said the US State Department invented reasons for the sanctions in its statement. “If the Skripal case did not exist they would find some other excuse, create yet another myth.” Source

Is this the beginning of the WWIII? Currency wars – done. Trade wars – emerging. According to history, all of history, shooting wars are next. Would gold and silver stop the next war or would the precious metals fuel it? Is this how gold and silver come back to the monetary system? How do the nations settle trade amongst themselves and other nations? Is blockchain technology about to take the stage with gold notes emerging as units of account? One gold note is equal to one kilo of.9999 physical gold? Something is changing and it’s changing right now.

 

Sharing is caring!

The Daily Coin

Rory Hall, The Daily Coin and Gospel News Network. Beginning in 1987 Rory has written over 1,400 articles and produced more than 500 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Gold Seek, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Dr. Warren Coates and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Gospel News Network to enjoy some of the best economic, precious metals, geopolitical and preparedness news from around the world.