Some banks have substantial commercial real estate loans out there.
That may be the next domino to fall.
Yeah, and Russia at war eliminates the Ruble, troubles with Swiss and German banks eliminate the Swiss Franc and the Euro, and nobody trusts the Chinese which eliminates the Yuan.
So what does that leave as a possible global currency? Japan’s Yen? Britain’s Pound?
Hardly.
The story of the de-dollarization of the world’s commerce is underlying the current developments, and the media are assiduously working to keep the story from the American public. Meanwhile, BRICS nations are openly talking about a future gold backed cbdc which would spell the end of the dollar as the world reserve currency. This will result in catastrophic inflation. It looks increasingly like the gold bugs are finally right, physical precious metals may soon become the only refuge for the average man.
The article fails in one extremely important set of facts........China is on it’s financial ass.
Banks all over the country are failing. Depositors can’t get at their money even from “good” banks. Regional governments have no money. Having relied on land sales for revenue, they can’t collect enough taxes to come close to the expenses when the land market no longer exists. Business is very bad and employees aren’t being paid. Some have worked as long as 16 months without a pay check.
China has in fact failed and there is no possibility at all of the RMB becoming the world currency standard
Soros, with a little help from the World Economic Forum, does it again... This time on a bigger scale, and STILL walks about as a free man..
The USA borrowed $200 billion so it could give it away to Ukraine, FOR FREE! That’s just ONE country, not including the trillions borrowed to give away to all the other countries in the world.
Now the succeeding generations are stuck with paying that bill.
“As of 2022, none of the world’s countries use the gold standard”
Asia Times, China influenced news outlet?
FULL TRANSPARENCY:
Installation of democrats Barack Obama and Joe
Biden as presidents dedicated to the fundamental
transformation of America from a Constitutional
Republic with a capitalistic economic system to a
"woke", racist, oligarcy with a socialist/communist
economic system has created the current US bank
troubles and the end of dollar as the international
reserve currency.
Just ask the question: Who owns a ton of mortgage backed securities? And what has happen to the value of them?
The answer is the Fed. And they have fallen in value. If the Fed needed to “mark to market” we would be screwed.
Parity with the other currencies is $100.
In the last 40 years, the USD has traded below $102.78 ninety percent of the time.
The claim that international businesses are going to start switching to the Chinese Communist Party Renminbi (aka Yuan) is not serious.
International business will trade in Bitcoin before it trades in the Renminbi.
Most important post on FR today.
The US is headed to economic collapse. Get ready.