New “commodity-based” global monetary order soon on the way
Mar 25, 2022 21:31:48 GMT -5
Post by OmegaMan on Mar 25, 2022 21:31:48 GMT -5
Here it comes: New “commodity-based” global monetary order soon on the way
Friday, March 25, 2022 by: Ethan Huff
Tags: Collapse, commodities, commodity-based, Credit Suisse, currency, economy, finance, money, new world order, Plandemic, risk, Ukraine, War, Zoltan Pozsar
This article may contain statements that reflect the opinion of the author
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(Natural News) The U.S. dollar is rapidly losing value due to runaway inflation. And it will more than likely be replaced, according to Credit Suisse, by a new “commodity-based” currency system.
“This crisis is not like anything we have seen since President Nixon took the U.S. dollar off gold in 1971 – the end of the era of commodity-based money,” says former Federal Reserve and U.S. Treasury Department official-turned-Credit Suisse investment strategist Zoltan Pozsar.
“When this crisis (and war) is over, the U.S. dollar should be much weaker and, on the flip side, the renminbi much stronger, backed by a basket of commodities.”
Once the war in Ukraine ends, Pozsar maintains, money as we currently know it will be gone. In its place will be something backed by something else that actually holds value.
“From the Bretton Woods era backed by gold bullion, to Bretton Woods II backed by inside money (Treasuries with un-hedgeable confiscation risks), to Bretton Woods III backed by outside money (gold bullion and other commodities),” Pozsar explains about the progression.
Bitcoin stands a chance at coming out on top, he says, but first it has to survive. The current monetary system built on fiat must also give way to it, which has already begun as of February 24 when the G7 countries seized Russia’s foreign exchange reserves following the Ukraine invasion.
“We are seeing a regime shift unfold in funding markets currently (which, as always, will pass), and a sea change in inflation dynamics and FX reserve management practices,” Pozsar wrote in a report published earlier this month.
Continued at link
Friday, March 25, 2022 by: Ethan Huff
Tags: Collapse, commodities, commodity-based, Credit Suisse, currency, economy, finance, money, new world order, Plandemic, risk, Ukraine, War, Zoltan Pozsar
This article may contain statements that reflect the opinion of the author
Bypass censorship by sharing this link:
New
citizens.news/604357.html
(Natural News) The U.S. dollar is rapidly losing value due to runaway inflation. And it will more than likely be replaced, according to Credit Suisse, by a new “commodity-based” currency system.
“This crisis is not like anything we have seen since President Nixon took the U.S. dollar off gold in 1971 – the end of the era of commodity-based money,” says former Federal Reserve and U.S. Treasury Department official-turned-Credit Suisse investment strategist Zoltan Pozsar.
“When this crisis (and war) is over, the U.S. dollar should be much weaker and, on the flip side, the renminbi much stronger, backed by a basket of commodities.”
Once the war in Ukraine ends, Pozsar maintains, money as we currently know it will be gone. In its place will be something backed by something else that actually holds value.
“From the Bretton Woods era backed by gold bullion, to Bretton Woods II backed by inside money (Treasuries with un-hedgeable confiscation risks), to Bretton Woods III backed by outside money (gold bullion and other commodities),” Pozsar explains about the progression.
Bitcoin stands a chance at coming out on top, he says, but first it has to survive. The current monetary system built on fiat must also give way to it, which has already begun as of February 24 when the G7 countries seized Russia’s foreign exchange reserves following the Ukraine invasion.
“We are seeing a regime shift unfold in funding markets currently (which, as always, will pass), and a sea change in inflation dynamics and FX reserve management practices,” Pozsar wrote in a report published earlier this month.
Continued at link