Reckless fiscal policy enabled by monetary policy is amplifying risks to the U.S. dollar’s global standing, its foreign exchange rate, and ultimately its purchasing power.
BIS' "Basel III" regulations may force central banks that still are intervening against gold to put more of their own physical gold reserves at risk for gold price suppression.
Powell says inflation is going the right direction, even as it continues to rise month after month. He also says there is nothing in the data to indicate a recession in the near term, which isn’t true.
Why a central bank needs the BIS to undertake gold swaps isn’t clear, but the swaps are likely connected with short-term trading needs, which could include suppressing the gold price.
BlackRock and what it represents are symptomatic of the problems in the world today. A pox upon it. It has nothing to do with capitalism and free markets.
It remains likely that the BIS has entered these swaps on behalf of the U.S. Federal Reserve. There is no evidence to suggest that any other major central bank is actively trading this much gold.
Gold, with its enduring value, has consistently stepped in to play a crucial role in these currency resets, providing stability and continuity during times of financial upheaval.
The Speaker of the House of Representatives should protect the people’s right to use alternative currencies such as precious metals and cryptocurrency.
