Take a Look

Kitco News Zero Hedge Dolla Vigilante Crypto Coins News


The New World Currency will include Gold, Silver and Bitcoin

The average life span of a fiat currency is 40 to 50 years and the greenback is now in its’ 44th year. After a US dollar collapse financial experts are talking about the greenback being replaced by a Bitcoin payment system, new world dollar or one world money. The Chinese Yuan joined the global basket of currencies (SDR basket) in October. The SDR basket is a marker for the settlement of global trade. With the inclusion of Chinese currency in that basket a lot of countries around the world may decide they don’t need as many dollars in their reserve accounts. 16 trillion dollars of US treasury bonds overseas are being sold off very quickly. An event like war with Russia or China may make countries like Saudi Arabia decide to sell oil in currencies other than the US dollar. Dumping US dollars will trigger hyperinflation in America and a global lack of confidence in the US dollar will speed up the creation of a one world money digital currency or a gold backed currency. http://www.bloomberg.com/news/articles/2016-10-18/china-holdings-of-u-s-treasuries-drop-to-almost-four-year-low Central banks are liaising with Bitcoin companies like Xapo, Circle, Bitstamp and Ethereum because they all agree that the future of a one world money will include a Bitcoin Payment System and a Bitcoin payment gateway. Andy Haldane, the U.K. central bank’s chief economist who may be a future Governor of the Bank of England is one of Europe’s greatest supporters of a Bitcoin based digital currency. Andy Haldane wrote a speech that is turning into a Bitcoin roadmap for monetary policy and cryptocurrency. Quote from Andy Haldane: ‘What I think is now reasonably clear is that the distributed payment technology embodied in Bitcoin has real potential.’ Litecoin, Dodgecoin, Bitstamp, Ethereum, Circle bitcoin and Xapo are all being evaluated to find the best Blockchain cryptocurrency. Gold and silver are increasing in value because when the US dollar bubble and other Fiat currencies bursts the world will turn towards gold as a digital currency and one world money. Silver is increasing in value as the demand for silver increases and supply diminishes. China used 1 million ounces of silver for the solar power industry in 2003 which increased to 42 million ounces in 2015. Bullion banks like JP Morgan are taking delivery of record amounts of physical silver in the Comex vaults. In one month JP Morgan purchased a whopping 8,300,000 ounces of silver. JP Morgan currently holds around 60 million ounces of silver. What does this mean? No one knows for sure but a new world currency backed by gold and silver is being talked about for this reason. Also a gold standard could be achieved by ending government’s legal tender monopoly and letting free market cryptocurrency and digital currency take over. Electronic gold and silver payments using innovations like BitGold, Goldmoney, cryptocurrency exchanges and cryptocurrency markets will prove that free market digital currency and gold backed currency is viable for everyday transactions.

The U.S. should back China’s New World Bank for Asia

Recently in The Financial Times, Larry Summers criticized the U.S. for not backing the creation of a new China-led international bank that would finance major infrastructure projects across the Asia Pacific region. The former U.S. secretary of treasury called it a “failure of strategy and tactics” and called for “a comprehensive review of the U.S. approach to global economics.” Diplomats and business executives from Asia and Europe have embraced the bank. Great Britain, Germany, France, Italy, South Korea and Australia are among more than 40 nations who have brushed aside the White House’s concerns over the intentions of the bank and whether it will follow “high quality, time-tested standards.”

China will provide much of the AIIB’s initial $100 billion in funding. The bank is expected to be up and running by the end of this year. The AIIB will help finance transport, water, energy and other infrastructure projects. The new bank will move quickly to prove skeptics wrong by demonstrating that it can be more effective than the World Bank and other regional development banks in financing infrastructure while addressing legitimate community concerns about relocation and compensation for any loss of housing or income. Recently, the World Bank admitted to “serious shortcomings in the implementation of its resettlement policies,” adding that it plans to fix its problems with a “plan that will improve the oversight and management of resettlement practices to ensure better protection of people and businesses affected by bank-funded projects.”

The new Asian Infrastructure Investment Bank has the chance to develop strong, new and effective accountability mechanisms that all shareholders would support. A strong independent evaluations department not beholden to any single shareholder must be part of that. Mechanisms to review and ensure compliance with the bank’s own rules are also critical. As Summers noted, it is time for the US to wake up to a new economic era. Strengthened engagement with Asia and all its major financial institutions must be part of that.

Most Popular New World Currency Search Terms

Gold bullion price per gram, Gold bullion price forecast, Gold bullion price chart, Gold bullion price history, Gold bullion price graph, Gold bullion price 2015, Gold bullion price 2015, Gold bullion price US dollar, Gold bullion sale, Gold Blog, New world currency backed by gold, New world currency name.

Best Financial Quote of 2017

The system is highly unstable, If confidence is lost it can melt down very quickly.

Jim Rickards