As Donald Trump shatters the global rules-based order, official institutions (and private investors) are scrambling to buy gold: the share of the asset in central banks’ reserves has doubled in the past decade to more than a quarter, the highest level in almost 30 years.
Although this partly reflects the soaring bullion price, experts say central banks are also stuffing their vaults as an insurance policy in a volatile world. Many are also rushing to repatriate gold stockpiles held overseas, and slashing their exposure to the US dollar.
“We have moved from Pax Americana to global discord, geopolitically. It is the law of the jungle when we see what the US are doing,” says Raphaël Gallardo, the chief economist at the asset manager Carmignac.
“Investors – private and sovereign – believe their strategic reserves are no longer safe in dollar terms, as they can be confiscated overnight. The dollar is losing the credibility as the nominal anchor of the global monetary system because the Fed is losing credibility, and US Congress is losing its credibility.”
We are living in times of hybrid wars. Are the US seriously this stupid or is it deception for something else?
The techno feudalists and their demented puppet are sabotaging the country quite effectively
That is what media owned by billionaires is telling us. However, it doesn’t make sense to throw away power like they seem to do. The techno feudalists are also not the only ones with influence.
They believe they will be able to “fix” it later. They also believe their money will protect them.
Trump is devaluing the Dollar. Their companies lose global influence if China becomes the hegemon. If things continue unchanged they won’t have anything to fix.
They believe they can rebuild the world how they see fit. Even if they devalue their wealth they are still WAY RICHER than everyone else.
The business leaders tried a coup in the 1930s. This time they are succeeding.
China will rebuild the world if they are not careful.
https://en.wikipedia.org/wiki/List_of_countries_by_steel_production
China is playing chess, we (the US) out here playing tic tac toe and losing.
Their loyalty is to themselves, they are profiting from the destruction of the nation, just like the nobles were doing before the French Revolution.
Without the nation there won’t be a military to secure their companies.
They believe they can buy an army for each one of them.
China is going to take the technological lead sometime after 2027. A single billionaire can’t field a competitive army unless they can get AI and robots ready by then.
They will try and the common people will suffer, but I personally don’t think they will succeed.
The administration is made up of the dumbest motherfuckers to have ever walked the Earth.
The newspapers and media companies play along, but are owned by billionaires who could force congress to impeach Trump.
But they are also the dumbest motherfuckers who have ever walked the earth. You don’t need to be smart to be an oligarch.
Some heirs are, but the majority of billionaires is clever enough to understand that alienating all allies will destroy their fortunes.
I think once you have more billions than you know what to do with, you don’t care about money, or allies or material things anymore.
You start to believe you are a god and you deserve to rule the world. Hence why they are all going along with the fascism.
It’s a mental disease. People shouldn’t be allowed to have this much money for health purposes and once they do, the only medicine is the guillotine.
There are about 1,000 billionaires in the US, competing with 1,000 in China. That competition will keep them grounded in reality. They can only go with fascism if that keeps them competitive.
Competing for what? Certainly not in earning more money.
Do you really think there is a single billionaire “grounded in reality”?
If they’re competing for anything, it’s power. Fascism brings more power to the rich and ruling class.
Yes, competing for power.
Yes, I think they are grounded in reality. To maintain their power they have to keep their companies competitive.