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| Name | Gold Standard 2.0 Is FINALLY HAPPENING! Gold & Silver Prices Will Soar Massively - Andy Schectman |
| Video Uploader | Video From Money Sense |
| Upload Date | This Video Uploaded At 20-06-2024 20:00:20 |
| Video Discription | Gold Standard 2.0 Is FINALLY HAPPENING! Gold & Silver Prices Will Soar Massively - Andy Schectman Since 2009, robust gold buying by central banks and a rising gold price have significantly increased the precious metalโs share of global international reserves, diminishing the dominance of fiat currencies. By the end of 2023, gold surpassed the euro in international reserves, and the next target is the US dollar. Andy Schectman, CEO of Miles Franklin, highlights that the Bank for International Settlements has reclassified gold as a tier-one asset, prompting central banks to repatriate and accumulate gold to minimize counterparty risk. This trend suggests a strong probability that gold prices will exceed current expectations. Spot gold is trading around $2,300 per ounce after hitting a record $2,449.89 on May 20, gaining more than 11% this year. The rally shows signs of continuing in the second half of 2024, as the fundamental case for bullion remains strong, though $3,000 per ounce appears just out of reach, according to traders and industry experts. Schectman asserts that the value of commodities is increasingly seen as more substantial than the currencies used to purchase them. This shift aligns with Zoltan Pozsarโs concept of Bretton Woods III, envisioning a system based on commodities rather than the opaque debt promises of economically troubled nations. Central banks, among the most well-informed market players, have been significantly increasing their gold reserves and repatriating gold from Western institutions. The Reserve Bank of India recently made a significant strategic move by repatriating over 100 tonnes of gold from the UK to its domestic vaults. This marks the most considerable repatriation since the early 1990s and signifies the RBI's evolving approach to managing its gold reserves. The People's Bank of China should have reported acquiring gold in May. However, this absence of reporting does not imply that the bank or the Chinese government did not acquire gold; it only indicates that the central bank did not officially report such acquisitions that month. With BRICS expansion remaining a significant focus for the group, another new nation has formally applied to join the alliance. Among many nations showing interest, Thailand has emerged as a potential front-runner with its official application submitted on Thursday. Andy Schectman highlights that an increasing number of countries are planning to join BRICS, with official estimates suggesting 59 nations are on board. This growing coalition of countries no longer relying on the dollar for trade represents a significant shift in the global economic landscape. In a related move, BRICS member Russia is increasingly ditching the US Dollar in favor of the Chinese Yuan for trade, according to its central bank. Russia has been at the forefront of de-dollarization efforts within the bloc, taking significant steps to reduce its dependence on the US Dollar. As the BRICS economic alliance continues to pursue its de-dollarization agenda, more than $70 billion in trade will no longer be settled in US dollars. The bloc will implement a landmark trade agreement to decrease reliance on the greenback in unilateral trade. Follow on X: https://twitter.com/MoneySense_Off "Welcome to our channel dedicated to gold and silver investing! In this video, we provide expert insights and analysis on the latest trends in the gold and silver market. Discover strategies for investing in precious metals, including gold and silver bullion, coins, and jewelry. Stay updated with real-time price updates and market news, and learn how to diversify your portfolio with gold and silver. Whether you're a beginner or an experienced investor, our channel offers valuable tips and guidance to navigate the world of precious metals. Subscribe now for in-depth analysis, historical data, market forecasts, and more. Join our community of gold and silver enthusiasts and unlock the potential of these timeless assets. #GoldAndSilverInvesting #PreciousMetalsChannel #InvestingTips" We bring you the latest news, insights, and analysis on gold, silver, and copper. Our videos cover a wide range of topics, including gold price, gold prediction, gold price forecast, silver price, silver price prediction, copper price, market trends, investment strategies, and industry news. We share interviews from experts like Rick Rule, Peter Schiff, Mike Maloney, Lynette Zang, and many others. Stay up-to-date with the world of finance and make informed decisions with our expert insights. Subscribe now and never miss a video! #gold #goldpriceprediction #andyschectman zbXWCs6G0vY |
| Category | Howto & Style |
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