Gold Shines So Far in 2024 as Central Banks Invest Heavily

HARK! · Sep 25, 2024

In May, central banks reported buying 10 metric tons of gold, according to the International Monetary Fund (IMF) and other sources. What’s more, the 2024 Central Bank Gold Reserves Survey, conducted between February and April, found that 29% of central bank respondents planned to increase their gold reserves over the next 12 months.

This plan is driven by “a desire to rebalance to a more preferred strategic level of gold holdings, domestic gold production, and financial market concerns including higher crisis risks and rising inflation,” according to the council.

Gold Shines So Far in 2024 as Central Banks Invest Heavily

Gold has been one of the best-performing global assets of 2024, with central banks driving significant demand.

www.investopedia.com

HARK! · Sep 25, 2024

According to the same CNN poll, voters trust Trump over Harris by a 50-39 margin on the economy.

“There’s a lot of work for her to do here,” Phillip said.

Yesterday’s polls were very bad for Harris. Trump is viewed as a more successful president than the current admin and they trust him more on the economy, even as Dems lie about his record. We discuss on @cnn. pic.twitter.com/NMfAUzIcjD

— Scott Jennings (@ScottJenningsKY) September 25, 2024

Thus far, Harris has failed to deliver much of anything besides Communist-style proposals for price controls. When she has cited specifics, she has generally stolen her ideas from Trump.

Furthermore, when placed in unscripted settings, the vice president often struggles to speak in coherent sentences. Thus, she has largely avoided engagements with the media.

Watch: CNN Contributor Tells Hard Truth About Kamala Live on Air as Trump Steals Momentum

Jennings cited polling data to show that Americans remember Trump's presidency as a success, especially on the crucial issue of the economy.

www.westernjournal.com

HARK! · Sep 25, 2024

159 Countries Set to Adopt BRICS New Payment System — reports

The move is poised to be vital for the bloc and participating nations, and it appears there will be 159 countries seeking to adopt the system currently. With a potential launch coming in October.

159 Countries Set to Adopt BRICS New Payment System — reports

159 Countries Set to Adopt BRICS New Payment System — reportsAmid the alliance’s continued efforts to create a SWIFT alternative, the economic alliance has sought to create its very own BRICS payment system. It will play a major role...

news-pravda.com

HARK! · Sep 26, 2024

The cost of gold in USD climbs ever higher as demand for gold climbs higher and the value of the dollar weakens.

Kitco Global Index (KGX) | Track Gold, Silver, Oil, Crypto & More vs. USD

Track real-time commodity prices with the Kitco Global Index (KGX). Analyze how USD strength impacts Gold, Silver, Oil, Copper, and top cryptocurrencies like Bitcoin, Ethereum, and Solana.

www.kitco.com

Laodicean60 · Sep 26, 2024

The central banks except the FED know something we don't, also some BRICS countries are hoarding gold.

rambot · Sep 26, 2024

HARK! said:
Furthermore, when placed in unscripted settings, the vice president often struggles to speak in coherent sentences. Thus, she has largely avoided engagements with the media.

The characterization around Kamala struggling to speak are ...I was struggling what to write here...but I'm gonna keep it to just utterly vapid.

Mostly because the irony is simply too high to take a comment like that serious.

It's a hard to take a news source seriously if they are really going to harp on this particular angle....really at all. Oh...it's the Western Journal. Never mind. That isn't a news source anyways; It's an opinion piece generator.

Yes this is not the topic of the OP. OF course this is information that can be found in the OP so I don't feel this is off topic.

Laodicean60 · Sep 26, 2024

7thKeeper said:
I do not believe I mentioned the USA in my post at all. I just pointed out that 159 (typoed as 195 in my post originally) countries setting adopt the system is false. It's 159 "participants".

Did you not read the title of the article I posted "Almost 160 countries will adopt New BRICS Payment System"??? If it is false I'd appreciate info so I'm not living a lie. It doesn't matter whether you mentioned the USA I did.

7thKeeper · Sep 26, 2024

Laodicean60 said:
Did you not read the title of the article I posted "Almost 160 countries will adopt New BRICS Payment System"??? If it is false I'd appreciate info so I'm not living a lie.

Yes, I read it. It's false. I'm not sure how many times I need to repeat it to you. It's not 159 countries, but "participants". I'm not sure what you posting another article falsely claiming this helps.

Laodicean60 said:
It doesn't matter whether you mentioned the USA I did.

Well you mentioned me "not liking" something that I did not even mention. So yeah, it kinda does matter when you start building up strawmen arguements against me with then very first thing in your reply.

You may not like the sound of America losing its influence on the world but it's happening it was only 40+ countries 8 months ago.

Laodicean60 · Sep 26, 2024

More and more countries want to join the BRICS alliance including a NATO member Turkey. Saudia Arabia is thinking about it.

BRICS - Wikipedia

en.wikipedia.org

The following countries have either expressed interest in joining BRICS or have already applied for membership:

Africa

Algeria[88]1
Angola[89]
Burkina Faso[90]
Cameroon[91]
Central African Republic[92]
Congo[93]
DR Congo[94]
Equatorial Guinea[95]
Ghana[96]
Libya[97]
Nigeria[98]
Senegal[99]1
South Sudan[100]
Sudan[101]
Tunisia[102]
Uganda[103]
Zimbabwe[104]1
Americas

Bolivia[105]1
Colombia[106]
Cuba[107]1
El Salvador[108]
Nicaragua[109]
Peru[110]
Venezuela[111]1
Asia

Afghanistan[112]
Azerbaijan[113]1
Bahrain[114]1
Bangladesh[115]1
Indonesia[116]
Iraq[117]
Kazakhstan[118]1
Kuwait[119]1
Laos[120]
Malaysia[121] 1
Myanmar[122]
Pakistan[123] 1
Palestine[124]1
Saudi Arabia[125]2
Sri Lanka[126]
Syria[127]
Turkey[128]1
Thailand[129]1
Vietnam[130]
Yemen[131]1
Europe

Belarus[132]1

Laodicean60 · Sep 26, 2024

7thKeeper said:
Yes, I read it. It's false. I'm not sure how many times I need to repeat it to you. It's not 159 countries, but "participants". I'm not sure what you posting another article falsely claiming this helps.

Well you mentioned me "not liking" something that I did not even mention. So yeah, it kinda does matter when you start building up strawmen arguements against me with then very first thing in your reply.

Sorry but please provide a source before you call something false.

7thKeeper · Sep 26, 2024

Laodicean60 said:
Sorry but please provide a source before you call something false.

https://factcheck.afp.com/doc.afp.com.36F22VT

Though the actual source is RT who first reported about 159 countries.

"On August 17, 2024, Russia Today (RT) published news content on its official Weibo account -- '159 countries will adopt the new BRICS payment system'. After verification, this was fake news," RT posted on its official Weibo account on August 22.

"We apologise for publishing this inaccurate information."

Laodicean60 · Sep 26, 2024

7thKeeper said:
https://factcheck.afp.com/doc.afp.com.36F22VT

Though the actual source is RT who first reported about 159 countries.

I thank you for this and I stand corrected!
Reuters also calls it participants. I am into this stuff because I like to know how the enemy is going to harm the American way of life. They are doing this to get away from the dollar which will someday affect our economy. As I see more and more countries applying for BRICS membership including some so-called friends is alarming. Many people say they will not do away with the dollar but it will have some effect because of depolarization.

"Central to this ongoing situation is the US trade war with China, as well as US sanctions on China and Russia. Should the BRICS nations establish a new reserve currency, it would likely significantly impact the US dollar, potentially leading to a decline in demand, or what's known as de-dollarization. In turn, this would have implications for the United States and global economies".

https://www.nasdaq.com/articles/how-would-new-brics-currency-affect-us-dollar-updated-2024

"BRICS is an intergovernmental organization made up of Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.
The council said China's Cross-Border Interbank Payment System (CIPS) added 62 direct participants in the 12 months to May 2024, an increase of 78%, bringing the total to 142 direct participants and 1,394 indirect participants.
Negotiations around an intra-BRICS payment system were still in the nascent stages, but bilateral and multilateral agreements within the group could form the basis for a currency exchange platform over time. However, these agreements were not easily scalable, since they were negotiated individually, the report said.
It noted that China has actively supported renminbi liquidity through swap lines with its trade partners, but the share of renminbi in global foreign currency reserves dropped to 2.3% from the peak of 2.8% in 2022."

https://www.reuters.com/markets/currencies/us-dollars-dominance-secure-brics-see-no-progress-de-dollarization-report-2024-06-25/

bèlla · Sep 26, 2024

Laodicean60 said:
The central banks except the FED know something we don't, also some BRICS countries are hoarding gold.

They've been buying since the pandemic and increased their acquisition since that period in preparation for the shift to digital currency.

Start at 1:07

~bella

bèlla · Sep 26, 2024

Laodicean60 said:
You may not like the sound of America losing its influence on the world but it's happening it was only 40+ countries 8 months ago.

We won't maintain reserve currency status. Trump mentioned leveling the playing field for currencies in 2017.

~bella

bèlla · Sep 26, 2024

Laodicean60 said:
I am into this stuff because I like to know how the enemy is going to harm the American way of life. They are doing this to get away from the dollar which will someday affect our economy. As I see more and more countries applying for BRICS membership including some so-called friends is alarming.

You may want to reconsider your position.

In 2001, Goldman Sachs’ Global Investment Research Division publishes the report, “Build Better Global Economic BRICs,” coining the acronym for the four countries that would reshape the world economy– Brazil, Russia, India and China.

The bloc was founded as an informal club in 2009 to provide a platform for its members to challenge a world order dominated by the United States and its Western allies.
Its creation was initiated by Russia.

Meanwhile...

Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions.

Bitcoin was introduced to the public in 2009 by an anonymous developer or group of developers using the name Satoshi Nakamoto.

Bitcoin and BRICS began operating the same year. The United States holds the most along with China. But our government exceeds the rest in holdings.

~bella

Richard T · Sep 26, 2024

HARK! said:
159 Countries Set to Adopt BRICS New Payment System — reports

The move is poised to be vital for the bloc and participating nations, and it appears there will be 159 countries seeking to adopt the system currently. With a potential launch coming in October.

159 Countries Set to Adopt BRICS New Payment System — reports

159 Countries Set to Adopt BRICS New Payment System — reportsAmid the alliance’s continued efforts to create a SWIFT alternative, the economic alliance has sought to create its very own BRICS payment system. It will play a major role...

news-pravda.com

Sorry but brics does not keep me up at night. The Yuan does not freely float, Democracies are not joining. China is in pretty deep economic trouble. Russia is sanctioned, so the two along with some other misfits are trying but it seems doomed. We will see crypto currency lose interest at some point as well.

Why BRICS+ may prove weaker than expected | D+C - Development + Cooperation

By admitting six new members to their informal group, the BRICS (Brazil, Russia, India, China and South Africa) may be thwarting its capacity for collective action.

www.dandc.eu

HARK! · Sep 26, 2024

Laodicean60 said:
I thank you for this and I stand corrected!
Reuters also calls it participants.

Why stand corrected?

Wikipedia calls it countries. If the participants are countries; then what is the hair splitting difference?

HARK! · Sep 26, 2024

bèlla said:
We won't maintain reserve currency status. Trump mentioned the level playing field for currencies in 2017.

BRICS had a meeting this month, and there was debate as to whether to peg the BRICS currency to gold or to the Yuan. They will be meeting again in October, to hopefully get that detail finalized. I pray that they peg it to gold; or they will just be setting up another ponzi scheme like the one that we have with the USD.

HARK! · Sep 26, 2024

Richard T said:
Sorry but brics does not keep me up at night.

I don't stay up at night waiting for it to come to pass; but I do get excited about sound monetary policy. You know, fair weights and measures, and all that Godly stuff. Who knows, maybe this will force our corrupt government to adhere to the Constitution that they swore to defend, and take us back to Constitutional money.

I'd rather not be robbed anymore by the international banking cartel.

HARK! · Sep 26, 2024

Richard T said:
Democracies are not joining

That is blatant misinformation.

Yes they are.

Gold Shines So Far in 2024 as Central Banks Invest Heavily

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159 Countries Set to Adopt BRICS New Payment System — reports​

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159 Countries Set to Adopt BRICS New Payment System — reports​

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159 Countries Set to Adopt BRICS New Payment System — reports

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