Source: Mac Slavo
Whether you believe it or not, a global gold rush is imminent! While the American corporate-owned (and state-backed) mainstream media has been completely ignoring it, one country after another has been taking steps to divest themselves of their U.S. dollar.
Examining it more closely, we might even start to connect the dots and conclude that there’s a coordinated effort among these nations to dethrone the dollar as the world’s reserve currency. –James Davis, Future Money Trends
Davis believes that the government and the mainstream media have no intention of keeping anyone informed.
As we would expect, the government and the U.S. Federal Reserve have no interest in keeping the citizens informed of this phenomenon, and they’ll do everything in their power to maintain the narrative that the dollar (and therefore the economy) will be just fine. Richly compensated corporate media outlets will all fall in line, spinning a tale of dollar strength and longevity.- James Davis, Future Money Trends
Over the next 6 to 18 months, a gold rush is imminent, according to Davis.
China isn’t particularly interested in throwing the world into a financial crisis, but they’re gladly relieving themselves of American dollars, starting with a plan to replace the petrodollar with the Petro-yuan. China already launched its yuan-denominated oil futures contracts last year, and now they’re sweetening the pot by offering swap facilities to local countries to promote the use of the yuan.
Last year, we also witnessed the European Union’s plans to switch payments from the U.S. dollar to the euro for its oil purchases from Iran.
Meanwhile, India recently made its own move towards independence from dollar dominance when it was announced that a contract between Moscow and New Delhi for supplies of Russian S-400 air defense systems would be settled in rubles.
In addition to the deal with India, Russia has taken a number of measures to reduce its dependence on the U.S. dollar, including cutting its U.S. bond holdings down to $14.4 billion from $96.1 billion in September; also, in late November, the Russian Finance Ministry reported that it had issued 1 billion euros’ (equivalent to $1.13 billion) worth of seven-year bonds with a yield of 3%.
Reserve currency status does not last forever either. Big changes are coming, as the almighty dollar won’t be mighty for much longer.
Get ready because Davis thinks gold is going to end up being one of the hottest investments for at least the next 5 years.