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.”
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.
I don’t think so. Trump is a distraction.
The US cannot continue with the image of world police if every atrocity can be seen on Youtube. The US is reinventing itself for the information age.
The information about the explosion of the north stream pipeline has left the world guessing who did it. I think the US has committed to being ambiguous at all times.
They are playing a new game.
Their loyalty is to themselves, they are profiting from the destruction of the nation, just like the nobles of old 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.
Why should they try? Billionaires make money by selecting good strategies for their companies. As a group they can’t be dilluded about the risks of splitting up the West.