Comment: China and Russia have gold backed currencies.

Russia And China Roll Out 100% Gold-Backed Currency – News … outlined plans to create a 100 percent gold-backed currency system to replace the US dollar as the world’s dominant currency. The Central Bank of Russia has been steadily amassing vast gold reserves since 2015 – accumulating 1,828.56 tons by the end of 2017 – making it the fifth largest gold reserve in the world.

Bill Holter: Get Out Now Before Total System Collapse

207,814 views•Sep 11, 20204.4K104SHARESAVEPalisade Radio41.4K subscribersSUBSCRIBETo subscribe to our newsletter and get notified of new shows, please visit Tom welcomes an absolute icon to the show, Bill Holter. Bill works and writes alongside the legendary Jim Sinclair. Bill discusses the Feds Repo market break down that occurred last year and how the Coronavirus “saved” it. Bill argues that everything is about the credit markets and not stocks. There is a lot of mortgage debt and rent delinquency, which means payments are not getting to the owners of that debt. He believes the credit market backs have now been broken due to the lack of debt servicing. Debt is exploding rapidly, and it seems doubtful that the US has the gold reserves it claims. Those reserves were last audited in 1956, and there are numerous ways gold could have leaked out over the years. If the US has the gold it claims, it would still need to be revalued at $120,000 to back the current US debt. The Comex is desperately acquiring metals wherever they can to keep up with delivery demand. When the Comex fails to produce the metal, that will break prices free to the upside, which appears to be occurring right now. Bill discusses what a currency reset would look like and why you want to see a transition to real money and away from a paper-backed fiat system. He says, “Everything financial today is worth nothing.” He discusses why bonds have been a bad deal when compared to gold. Pension funds may be acquiring metals via the ETF’s, but regardless there is nowhere near enough metals to back even a fraction of them. Eventually, the junior mining sector, which holds future reserves in the ground, will be the last place where investors will be able find any exposure to gold. Time Stamp References: 0:51 – Repo market failure and coverup. 2:35 – Credit markets and liabilities. 5:20 – Requirements to revalue gold in USD. 6:10 – US gold reservers and audits. 7:15 – China and it’s fiat history. 8:30 – Dollar is the mirror image of gold. 10:35 – Comex and delivery demand. 11:45 – Whats pushing silver higher. 12:50 – Comex failure in progress. 13:30 – What a monetary reset could look like. 16:25 – Everything financial is worth nothing. 18:30 – Pension plans acquriring gold? 19:15 – Defining GOTS. 21:30 – Ideal gold and silver products. 23:40 – Mining stocks and their potential. Guest Links: Facebook: Website: Email:  #BillHolter#JSMineSet#Gold#Comex#CreditMarkets#Debt#China#CurrencyReset

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