And that should be driving you to gold and silver!
The world isn’t looking skeptically at the US dollar because it doesn’t like green. That would not be enough to drive de-dollarization. Nobody cares what color the money is as long as it functions adequately.
Nor is de-dollarization driven merely because the world is eager for a change – a change for change’s sake.
Not at all. In fact, if the problems with the US dollar were bearable, they would be borne. Remember how Thomas Jefferson put it in the Declaration of Independence, “Mankind are more disposed to suffer, while evils are sufferable than to right themselves by abolishing the forms to which they are accustomed.”
If people are moving away from the dollar, to which they are long accustomed, it suggests that dollar problems are no longer sufferable.
Leading drivers of the de-dollarization movement are the weaponization of the currency on the global stage, and the refusal of Washington to get its fiscal house in order. Today we offer up a snippet from the news about each.
First, the dollar on the global stage. At the BRICS Summitt in South Africa, Russian president Vladimir Putin summed up dissatisfaction with the weaponized dollar this way:
We are all united in our commitment to shaping a multipolar world order with genuine justice, based on the international law and in keeping with the key principles set forth in the UN Charter, including sovereignty and respecting the right of every nation to follow its own development model. We oppose hegemonies of any kind and the exceptional status that some countries aspire to, as well as the new policy it entails, a policy of continued neo-colonialism.
Let me point out that it was the attempts by some countries to preserve their global hegemony that paved the way to the deep crisis in Ukraine….
We are grateful to our BRICS colleagues who are active in trying to end this situation and achieve a just settlement by peaceful means.
Colleagues, what matters is that we all unanimously stand in favor of a multipolar world order that is truly fair and based on international law.
The unconcealed subtext is that Russia and other countries will move to a non-dollar global currency to avoid America’s geopolitical hegemony.
For the refusal of Washington to manage its affairs prudently, we turn to former Congressman and presidential candidate Ron Paul. His latest weekly column, “Growing US Debt Menaces Liberty and Prosperity,” offers Dr. Paul’s insider take on why nothing substantive is likely to be done to get a handle on US debt:
The sad fact is both parties, along with a majority of the American people, are addicted to welfare-warfare spending. What little resistance there is to big government within the Republican party is likely to be further weakened by the rise of a new form of “conservatism” that advocates the use of government power—including deficit spending and increasing the federal debt — to advance conservative political and social goals.
The failure to take seriously the threat to the American economy caused by reckless federal spending is illustrated by the reactions to the credit rating agency Fitch’s downgrade of the US government’s credit rating. Instead of treating it as a wake-up call, government officials like current Treasury Secretary (and former Federal Reserve Chair) Janet Yellen dismissed the downgrade as “arbitrary and based on outdated data.”
So, there you have it. Much of the rest of the world has grown resentful of the US. That is why there is a long line of nations seeking entry into the BRICS group. And why they are seeking alternatives to the dollar standard.
And as for the US, it will be more spend and spend from Washington. Never mind that the average American household is spending $709 per month more on living expenses than they were two years ago.
Ron Paul concludes, “Eventually, the Fed-created debt-based economy will collapse as the dollar loses its reserve currency status. This will increase political divisions and may even lead to political violence.”
Before that happens, make sure you have taken the necessary steps to protect yourself and your wealth with gold and silver. Speak with a Republic Monetary Exchange specialist about silver for personal protection and gold for wealth protection.