By: Brandon T. Ward
I have been trying to direct your attention to the fact that the world around us is changing dramatically! I have documented world bodies and nations calling for the end of the dollar and a new world order/currency. We are now witnessing unprecedented events right before our very eyes. Are you awake to see what is transpiring?
This trend of change continues with the Reserve Bank of India (RBI) swapping $6.7 billion dollars for 200 tonnes of gold from the International Monetary Fund (IMF). Their purchase increased their gold holdings by 80%! With the conclusion of this transaction the IMF has sold nearly 50% of the 403 tonnes available to the market since September. The IMF plans to sell a total of 2,000 tonnes of the yellow metal over a 5 year period in 400 tonne increments which is equal to 1/8 of their total gold holdings.
Why is this move by India so significant you may ask? It continues the trend of a dollar sell off by the world. Over the past year Mexico has increased its gold holdings by 108.91%, China by 75.69%, Russia by 18.78%, and the Philippines by 18.5%. Since India’s purchase a month or so ago, Gold and Silver have taken off like a rocket!
India’s move away from the dollar and into commodities is becoming more common these days. They now join China, Russia and Brazil among other nations in similar moves. Turkey recently announced it will start to use national currencies in trade with Iran, Russia and China. Latin America has announced they will stop using the dollar in 2010 and switch to a new intra-regional trading currency called the Sucre which will be paperless.
It should be noted that the United States recently struck a deal with the nation of Colombia. The agreement gives the US access to seven Colombian military bases. Why, you may ask? To strengthen the “war on drugs” we are told. I’m sure that’s the reason, especially since many Latin American nations will no longer use the dollar for trade (insert sarcasm). Ask Saddam Hussein how that worked out for him. He dumped the dollar and not to long thereafter the US was at war with Iraq.
“Everybody in the world is massively overweight in the US dollar. As they invest a little here and little there in other currencies, or gold, it slowly erodes the dollar. It is like sterling after World War One. Everybody can see it’s happening. In the US they have near zero rates, external deficits, and public debt sky-rocketing to 100pc of GDP, and on top of that they are printing money. It is the perfect storm for the dollar.”
Not only do we have a perfect storm for the dollar, we have a perfect storm for the world. The world’s economic collapse is far from over, don’t be fooled. A dollar collapse will bring down every nation of the world, and they know this, which is why they are calling for a new world monetary system. With nations moving away from the dollar and slow to purchase them due to our “print to save the economy” economics, you must ask yourself, “Who is buying all of our bad debt?”
If you guessed the Federal Reserve, congratulations, you get a star for the day! As you may know, the Federal Reserve is not Federal, but a private bank that holds no Reserves. Yet, they are out there buying up debt including treasury notes and mortgage-backed securities. Sounds dangerous to me! Since this topic of printing and monetizing debt can be complicated, please watch this video of Glenn Beck and his guest discuss this issue. (Length: 6min 32sec)