American

Petrol Dollar

Coming to a Close

Is Gold Money? China And Russia Think So, And The Whole World Shortly Will, TOO!

How manipulated have financial “markets” become?  Well, considering all that occurred in the past three months – from what will likely be reported as sub-1% U.S. GDP growth; an expanding, irreversible retail apocalypse; the death blow to “Trump-flation” delivered by “Freedom Caucus” Republicans; Donald Trump forcing the G-20 to remove language promoting free trade from its post-meeting communique; the institution of a $19.9 trillion debt ceiling – which roughly two months from now, will be reached; a plunging dollar and interest rates, despite a “surprise” Fed hike; rapidly deteriorating confidence in the OPEC “production cut” deal; all-out U.S. political war, including an expanding wire-tapping scandal that appears far worse than Watergate; and the commencement of the BrExit process – with the prospect of a “BrExit times 100” French election in the coming weeks; how ridiculous is it to see, that based on VIX trading, 1Q was the least volatile quarter in 11 years? 

Regarding “gold as money,” China and Russia confirmed this truism in spades this weekend, when they dropped a monetary bombshell by announcing their intention to pursue a trade settlement mechanism focused on gold – as described here.  To that end, Russia’s opening of a Beijing trade office last month was a major incremental step in the two superpowers’ ongoing initiative to “de-dollarize,” and lead an Eastern Trade Bloc outside the purview of the U.S., Europe, and other Western puppets like Japan.

 DYI