As talks about an economic collapse are heating up among economic experts, some believe that it might even trigger a Global Currency Reset. Basically, Global Currency Reset refers to a process where the U.S. dollar will eventually lose its place as the global currency. Instead, gold or some other instrument will be used as the new standard.
In 1944, the allied countries came together to establish a new global monetary system.
Called the Bretton Woods Agreement, they decided to ditch the gold standard and use the U.S. dollar as the global currency.
The U.S. benefited greatly from this new currency system and the dollar made its way into central banks around the world. In time we left the fixed-rate system.
President Richard Nixon stopped backing U.S. dollars with gold globally in 1971. This was known as the Nixon Shock. Since then, the dollar and all other currencies in the world exist without any support from a hard asset like gold.
The system led to a situation where the world ended up with more debt than assets. After the 2008 financial crisis, experts started predicting that the current financial system was on its last legs.
Since the Federal Reserve was created in 1913, the dollar has lost 95% of its value – its worth eroded by inflation.
The US debt currently sits at over $22 trillion and grows daily. In 2011 Standard & Poor, a ratings agency, downgraded US sovereign debt from AAA to a lowly A.
Sooner or later, government spending has to be paid for.” Sooner if by your children, later if by your grandchildren.
The 2008-2009 financial crisis & stock market crash which started in the US through the sub-prime mortgage debacle, was another flag to the rest of the world signaling a move away from the dollar toward other currencies.
In the first quarter of 2019, global debt hit $246.5 trillion.
Encouraged by lower interest rates, governments went on a borrowing binge as they ramped up spending, adding $3 trillion to world debt in Q1 alone.
It reverses a trend that started in the beginning of 2018, of reducing debt burdens, when global debt reached its highest on record, $248 trillion.
Last week, a central bank said gold could serve as a “trust anchor” for a renewed international monetary system, in the event of a “global reset”.
In an article on its website the De Nederlandsche Bank boldly claims, “If things go wrong, prices may fall. But, crisis or not, a gold bar always holds value.”
We’re not sure when the global currency reset will happen, or what will be the trigger – ie. a corporate debt time bomb that could crash the global economy. Almost $19 trillion dollars of debt is owed by companies that don’t earn enough to cover interest payments.
We are absolutely sure the reset (GCR) will happen and gold will play a very important role in the transition to a new world currency.
The day is approaching with an inevitable economic collapse & stock market crash…
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