You might remember that on June 26th I did a video on “What Scares Me” where I told you that an escalation of the trade wars into a full-blown currency war with all sides weaponizing their own currencies. Unfortunately, this is now officially coming to pass.
On August 5, 2019 the US Treasury Officially labelled China as a currency manipulator.
Of course, spot gold spiked in terms of both the Yuan and the US Dollar but on August 5, 2019, after more massive central bank buying, gold now sits at all-time highs in at least six currencies: Indian rupee, Japanese Yen, British Pound, South African Rand, Australian Dollar and Canadian Dollar.
What is this really telling us? In my opinion, wall street has now begun the fiat money to gold reset. Down the road, the government will finish the reset, but I do believe the gold reset has begun. Are you ready?
Streamed live on Aug 6, 2019
Question 1. Dr. MusicMaker: When the banks drive us to negative rates and “electronic money,” how are we going to use our gold and silver? I assume we will have to convert it into electronic money the same way we would if it were paper fiat.
Question 2. Virginia K: What are the historical reasons a currency loses world reserve currency status?
Question 3. Albert S: Is it possible that pension funds and mutual funds will be forced to buy negative rated bonds because they need to hold a certain amount of bonds in their fund?
Question 4. Tim J: What happens to gold stocks when the stock market crashes?
Question 5. Jim P: You showed us charts on six countries where gold hit all-time highs. How can this happen in other currencies, while the price of gold in dollars is $400 lower than its all-time high?
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