…Before the U.S. dollar…became the world’s reserve currency…[that honor] was held by Britain, then France, the Netherlands, Spain & Portugal and the U.S. dollar is no less susceptible to succumbing to the same change. In fact, many nations have been actively turning their back on the dollar over the past decade.
Why would nations turn away from the U.S. dollar as global reserve currency? Because the status quo benefits the United States the most. For the majority of people on the planet, they are at a disadvantage. After all, why would nations want to pay for the “privilege” of having to settle international trade in dollars when they can use their own currencies, or monetary metals like gold?
Speaking of which, Russia and China announced this week that they are planning to set up a gold trading platform between their two central banks. It’s yet another move away from the current dollar dominated system, which follows many other recent big moves away from the greenback, including Russia’s oil and gas giant Gazprom agreeing to sell oil to China in renminbi rather than dollars. Even Iran wants to be paid in Euros rather than dollars for its oil.
Stop clicking around! #Follow the munKNEE instead
…It isn’t just the supposed enemies of the west that are turning on the United States’ financial control. Just this week, Saudi Arabia threatened to dump $750 billion in U.S. treasuries if Congress approves a bill to release 28 previously hidden pages of a report on 9/11 that purportedly links the Saudi government to the attacks. Talk about financial black mail!…
Whether that threat from the Saudis is triggered remains to be seen, the trend is clear: Nations around the world are seeking alternatives to the current system. The great exodus from the U.S. dollar has begun.
Before the dollar reaches the point of no return, RIGHT NOW is the time to prepare and one of the best moves that you can make to protect your savings from the dollar’s loss in value is to move some of your savings into an asset that has been viewed as currency for thousands of years: gold.
Disclosure: The original article, by Filip Karinja (BirchGold.com) was edited ([ ]) and abridged (…) by the editorial team at munKNEE.com (Your Key to Making Money!) to provide a fast and easy read.
“Follow the munKNEE” on Facebook, on Twitter or via our FREE bi-weekly Market Intelligence Report newsletter (see sample here , sign up in top right hand corner)