More gold, less dollars before the expected collapse of economies due to the green deal

More gold, less dollars before the expected collapse of economies due to the green deal

Countries are accelerating the move away from the US dollar.
Gold stocks in foreign exchange reserves of central banks around the world are growing, reaching a 31-year high this year. At the same time, US dollar stocks are falling.
According to the World Gold Council, banks have increased their holdings by more than 4,500 tons over the past decade. As of September, stocks were about 36,000 tonnes, the largest catch since 1990, up 15% from a decade earlier.
At the same time, the presence of the dollar in foreign exchange reserves has declined sharply over the past decade. In 2020, the dollar to currencies ratio fell to its lowest level in a quarter century.
Central banks, especially in emerging economies, continue to switch to gold, reflecting global concerns about a dollar-based monetary regime. In the first nine months of 2021, Thailand purchased about 90 tons, India 70, and Brazil 60 tons.
The impending collapse of the dollar system, which will bring down much of the world with it due to debt ties, will come as the main industrialized countries fully enter economic self-destruction through their so-called Green New Deal in the EU and the United States and beyond.

The ludicrous zero-carbon policy of phasing out coal, oil, gas and even nuclear power has already pushed the EU’s grid to the brink of a blackout this winter as unreliable wind and solar power make up most of the grid.

On December 31, Germany’s new green government is overseeing the forced closure of three nuclear power plants that generate the equivalent of Denmark’s electricity. Wind and sun can in no way fill in the gaps. In the United States, Biden’s policy, erroneously labeled Build Back Better, has seen fuel tops hit record levels. Raising interest rates in this conjuncture will devastate the whole world, which, apparently, is the plan.

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