The Battle for Financial Dominance: Better Have YOUR Shield…HEADLINE NEWS with Lynette Zang

The Battle for Financial Dominance: Better Have YOUR Shield…HEADLINE NEWS with Lynette Zang

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there is a new battle that is heating up on the financial dominance arena and you better be ready for this one because now it's really really getting interesting coming up i'm lynette zhang chief market analyst here at itm trading a full service physical gold and silver dealer specializing in those custom strategies so all the strategies are basically the one that i'm executing for myself but they are customized to your goals and your circumstances and this could not be more important right now because the reality is they keep talking about the world going into stagflation well guess what we are already there and you can see there are lots of countries where you've got inflation running hot at the same time you've got gdp gross domestic product declining even some countries that were considered stable have already shifted into a deflationary spiral and let's look at what's really going on here and that is there is a battle between the east and the west for financial dominance okay well we know that that's been going on for a while maybe it's true maybe it's not because as the world reserve currency there are a lot of obligations to keep the whole rest of the world afloat and run huge deficits but something really really really interesting has come about you know we showed the whole world what would happen when the u.s doesn't like what you're doing they just cut you out of the financial system well you know i mean the world has known it this recent cutting russia out of the swift system the financial system the payment system for the globe right now that is clearly us dominant i mean that basically made a new system coming up that much more urgent and that is exactly what is happening we already know that they created the brics nations created systems that would bypass a lot of the us systems but now they are actually creating a new reserve currency that could actually have the ability to challenge the imf's sdr that's special drawing rights which china brought up back in 2009 as a very viable contender to take over as the world reserve currency now this new system is actually a basket of currencies and we've already i've shown you in many videos before this that we have all the us dollar has already been declining in dominance of around the global payment system or those other countries using it for global payment and that smaller countries or china and smaller countries that have been adding to their gold reserves have been coming up in prominence in the reserve currency system but what the sdr is a basket of currencies and they can expand that basket to include every currency on the planet if they choose to do so well now what you've got is you've got the brics nations creating their own currency basket which again could very well be have the ability to expand into however many currencies they want to but instead of the us dollar being the dominant currency in the basket like it is in the sdr it would be these brics nations so china russia brazil india and south africa that would be more dominant in this currency basket i'm telling you it's getting really really interesting russia and china are brewing up a challenge to dollar dominance by creating that new reserve currency and here's the problem one possibility is that the brics basket currency could attract the reserves not just of the group's members but also currencies already in their range of influence these include nations in south asia and the middle east both countries that are definitely mineral rich but the middle east particularly saudi arabia arabia was why the u.s kept its position as the world reserve currency back in the 70s when the sdr was originally created to take over as the world reserve currency and it was that petro dollar that maintained that advantage and that position but we've also been watching that dominance decline so we've got a petro ruble i mean we were all annoyed that russia was actually asking to be paid for their oil in terms of gold or russian rubles even though we've forced the whole world to use dollars to pay for oil so it's okay when we did it but it's not okay when anybody else did it that doesn't really work so this is huge the basket currency would rival a us-denominated imf alternative and let russia widen its influence the dollar's dominance is already eroding as central banks diversify into the chinese yuan and smaller currencies whose governments are quickly accumulating gold because what they know is they know that the dollar is going away what do i have here i have this is a one million bolivars venezuelan currency i have two of them that were given to me when i did the george gammon event a couple of weeks ago buy somebody and that you're going to probably meet at some point because i've asked her to come on and talk about it but some by somebody that lived through and it's not over yet but she's not no longer living there that lived through the the defamation and the demonetization of the venezuelan bolivar two million bowley bars what can i buy with it absolutely nothing we get blinded by numbers but it doesn't matter how many bolivars you have because you cannot convert them into anything you're holding gold you can convert them into any new currency whether it's the current the sdr or dollars or the new currency being created by the brics nation or any other nation in the world it's universal money it's critically important but russia's is all ready to develop a new global reserve currency alongside china and other brics nations in a potential challenge to the dominance of the u.s dollar i can't even tell you how many people have said to me well russia's backed their currency with gold or china said they're going to back the currency with gold they can't do that yet they can't do that until they have burned off all the debt because once they put a component of gold in the currency it fixes the debt where it is so creating a new reserve currency as a basket of currencies because that's the direction we're going in would put them in the driver's seat let let all of these currencies hyperinflate that debt away so that debt is paid with with in this country dollars but it rubles or one or whatever pay off that debt with currencies that have zero value just like these ebola bars do then you put a component of gold because i mean at that point you don't trust anything any government or the money or the system at all then they put a component of gold in then you have the trust of the population again that's what history's shown us over and over and over again president vladimir putin signaled the new cur reserve currency would be based on a basket of currencies from the group's members brazil russia india china and south africa the matter of creating the international reserve currency based on the basket of currencies of our countries is under review putin told the brics business forum we are ready to openly work with all fair partners and so basically what he's saying is we're creating our own basket because we know that we know the dollar is losing its dominance it's been heading in that direction for many years and it's escalating because by cutting russia out of the swift system and forcing them into default if you don't think china india every other country on the planet is watching this you gotta think again we've held this privilege for a long time but it's going away the dollar has long been seen as the world's reserve currency let me just define that for you in case you're not familiar with it if you up until up until really 2002 or 99 if you were a government a corporation or an individual going anywhere in the world to buy anything outside of your borders you had no other alternative but to use u.s dollars

that has been changing and now so the dollar has long been seen as the world's reserve currency but its dominance and share of international currency reserves is waning we've talked about this before maybe edgar you can put a link in to a piece that i recently did on this actually central banks are looking to diversify their holdings into currencies like the yuan as well as into non-traditional areas like the swedish corona and the south korean juan according to the international monetary fund and other smaller currencies that have been accumulating gold because again these central banks are absolutely well aware that there is no purchasing power value left in any of basically in any of the currencies because that's the design of it but frankly i think this is really interesting a challenge to the sdr even before it's become the world reserve currency we are paying attention to this one this could be a battle royale it's fascinating we could not be living in more interesting times but it makes it that much more critical to make sure that you have gold in your portfolio because it crosses borders it's international money it doesn't need a government to say this is money and you have to accept it because it is used across every single area of the global economy and if you look at russia's preparations to get ready for this war to withstand it what did they do they reduced their dollar holdings and they increased their gold holdings because they knew that gold was international so even though all bars produced by russian refineries after march 7th of 2022 may longer may no longer be traded in switzerland any of those bars that were created before that they trade freely globally i think that's really interesting and it really is because there are no boundaries with gold you can put it in your pocket go anywhere in the world and instantly convert it into any fiat currency out there universal money what do you want when you're going into a crisis circumstance do you want something that has a narrow base of buyer or do you want something that has the broadest base of buyer that's what you want because it's never illiquid and are they not talking so much about the illiquidity in the treasury bond market we've talked about that recently in the past we will be talking about that more in the future because fiat money products fiat money products have the narrowest base of buyer and you know we're watching all of the assets stocks bonds as well as spot gold which is contract it's not the real thing it's the fake thing that's easy to create as much as you want but there's a finite amount of physical i don't care what it is when something's physical there is a finite amount period end of discussion well you know what holds its value something that has use across the entire global economy that has the broadest base of functionality and the broadest base of demand or something that a government can say oh this is money and oh by the way this is no longer money even if they don't inflate it all away i mean we we saw that in india in 2016 and venezuela and you know many other countries so things are heating up it's really really getting interesting with the bricks creating a basket currency to rival the imf's sdr i was convinced i'm going to be honest with you as soon as china said that in 2009 what about the sdr i mean they just asked that question what about the sdr and i said that's it it makes all the sense in the world it's been around since 1969 it's used on a global basis you can go to usps the us postal service easily and in their search bar just put sdr and you're going to see so everybody's had some in 2009 they gave a whole bunch more sdrs at the time it was a phenomenal amount to all of their members and they just did it again recently so it made sense to me that that would be the new world reserve currency since they can expand that basket and include everybody maybe it would still be dollar denominated and that's the problem that russia and china and india particularly are having they want their time in the sun so for them to create a currency to rival the sdr a basket currency to rival the sdr yeah it's getting really really interesting you want to have it not matter to you get gold get physical silver physical gold and have a plan that includes food water energy security barter ability wealth preservation community and shelter obviously on this channel we deal with the barterability so the silver as well as the wealth preservation and and growth preservation really in the gold but on our other channel if you haven't been there yet make sure that you subscribe not just to this channel though that's a good idea but also subscribe to beyond gold and silver where we talk about everything else the rest of the mantra because it is critically important that you be as self-sufficient and independent as possible and one person frankly cannot have every skill in the world it takes a village so if you go to beyond gold and silver you're gonna see a lot of the work that i'm doing on my off-grid property and as well as my urban farm and if there's some way because our goal is really to meet you where you are if you're just starting or you'll have no money this is where we're going to address that if you have lots of money and you've been working on it for years like i have we're going to address that too and everything in between this is the time to to get every single skill that you can and create that community in our community for the bug out location we have doctors we have teachers we have engineers we have good shots we have hunters i mean we have a variety of skill sets because not one person can do everything that's the importance of community it's probably the single most important thing that i really ever talk about but you want to have your foundation to preserve your wealth so that you have the ability to restart or even be in a better position on the other side of this but you need everything so if you like this you know make sure that you subscribe to this channel as well especially now i mean it is really really heating up if you like this give us a thumbs up share share share make sure you watch our other videos get yourself educated and if you don't understand something that i'm talking about let us know you can send into questions at itm trading you can you can make comments on the sidebar get with edgar he'll let me know about it if i'm doing it live which is really my personal preference then he even puts them up on the screen so i can address them right away but education is critical and that's what we're about and we're here to be of service so a hundred bazillion percent if you haven't done this already it is so time to cover your assets and here we use the wealth shield which is truly it encompasses everything so that you can be as independent and self-sufficient as possible and until next we meet please be safe out there bye-bye

2022-07-09 00:02

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