by Jim Willie, Gold Seek:
The Global Currency RESET has 100 steps and the first 10-12 appear complete. This is not a fantasy, but very real and in progress. Its progress is not very visible to most observers. Some important steps are seeing tremendous progress, but they are executed in the East with very little press coverage by the insidious lapdog Western press networks. Review many of the RESET features, but in summary form. These are covered steadily in the Hat Trick Letter reports.
LOST GLOBAL RESERVE STATUS
USDollar will no longer have sole global currency reserve status. As central banks across the globe discharge (dump) a sizeable portion of their USTreasury Bond holdings, they will seek alternatives. They will choose Gold bullion and Chinese Govt Bonds more often, in addition perhaps to more Euro Bonds. The trend of USTBond dumping has been very noticeable for the last two years. It comes from both the intentional motivated reduction in USD-based FOREX holdings, but also from Indirect Exchange. The latter is a practice of using USTBonds for instance in large projects as cash payment from two parties, like with China and Russia in building an oil pipeline. In the aftermath, Gold will benefit with more physical demand for bank reserves in direct asset placements without counter-party risk.
LOST GLOBAL PAYMENT MONOPOLY
USDollar will no longer have sole trade payment status. It is losing its monopoly, led by oil shipments, the sole status lost to the Chinese RMB. The Petro-Yuan contract out of Shanghai is a major game changer. Many observers believe this is a minor issue, but it is not. As more nations purchase oil with RMB, the banking systems will see the RMB Bonds push out the USTBonds in their reserves management. As the Jackass has stated consistently, gold will be introduced first in trade payment, then in bank reserves, and finally in currencies. The Petro-Dollar is in an advanced stage of its demise. The Petro-Yuan contract represents a death knell to the Petro-Dollar defacto standard. The Saudi oil sales to China in RMB terms represents a dagger in the Petro-Dollar heart, soon to be realized. In the aftermath, Gold will benefit with more demand for trade payment basis equity, like in the Gold Trade Note.
MAJOR BANK STRUCTURE CHANGES
Hidden important aspects in banking structures and debt structures are in the making, some difficult to fully discern. They relate to the Uniform Commercial Code (UCC) filings against all private money systems. The result will apparently be the shutdown of many banks which operate within the Rothschild realm, many rogue and oppressive with dirty operations. The banking structures have been designed and maintained by the banker cabal for decades, but changes will sweep some aside. In the aftermath, Gold will benefit with more emphasis, as less emphasis will be given to debt-based money.
TRADE IMBALANCE DIRECTIVE
Nations must resolve trade imbalances. Since the abrogated 1971 Bretton Woods Accord, which had set the Gold Standard, the imbalances have grown without bound. The worst offender nation is clearly the United States, which exchanges fraudulent debt securities for finished products and commodity supply. The USGovt debt will never be repaid, a fact gaining awareness. Thus the payment for ample imports in the form of USTBills and USTBonds is spurious at best, and fraudulent at worst. Nations will be forced to reduce imbalances, namely their trade deficits. In the aftermath, Gold will benefit with more usage in trade imbalance adjustments for bilateral resolution.
Deadbeat nations will be punished economically via currency devaluation. Nations will be forced to reduce imbalances, which means they must export more and import less. They will be forced to rebuild their industry if forfeited like with the top 20 (formerly) industrialized nations. They will build their industry if they live beyond their means. The key will be the movements in many nations to build an export trade. Some movements will take on national priority. In the aftermath, Gold will benefit with more usage in trade deficit resolutions.
END OF UNIPOLAR RULE
Multi-polar global financial system will continue to emerge. Since the end of World War II, the United States decided to gradually impose a quasi-democratic dictatorship, which has morphed into a global cabal fascist dictatorship since September 2001. The unipolar rule has resulted in profound chronic abuse of power, tremendous development of corrupt systems, hyper monetary inflation as standard policy, a push toward confrontation with the anti-Rothschild East, constant war drumbeat, arms sales & missile placements, routine sanctions, and a steady dose of destabilization. The corrupt systems are seen in the central banking franchise systems, the debt rating agencies, the banking regulatory bodies, the foreign embassies, and even the Intl Monetary Fund, the World Bank, and the United Nations. The multi-polar system that emerges no longer favors the dominant King Dollar in the global financial system. Instead, the multi-polar system favors the Gold Standard, in numerous important channels. In the aftermath, Gold will benefit with more usage in every aspect of the global financial system.
GOLD STANDARD ROLLOUT
Gold Standard will gradually be implemented, first in trade payment methods. Then it will be implemented in banking reserves management, using trade surpluses. Finally, it will be implemented with the introduction of various gold-backed currencies, augmented by formal financial devices like the Gold Trade Note. The rollout will be led by the Eastern superpowers, as they continue with impressive progress with the Belt & Road Initiative, the Asian Infra-structure Investment Bank (rival to IMFund), the BRICS Development Bank, the BRICS Gold Platform, the Cross-Border Interbank Payment System (CIPS competitor to SWIFT), and smaller platforms. They all have one trait in common: no usage of the USDollar. The United States finds itself outside looking in, facing severe isolation in a process that is well along and gaining momentum. In the aftermath, Gold will benefit with more usage in every aspect of the global financial system.
GOLD RESERVES REQUIREMENT
Nations must demonstrate gold reserves in order to participate in global trade. They must produce gold and post the gold as reserves, subject to independent audits. Expect the United States to continue in its astounding gold accounting fraud, but the rogue nation will be revealed and unmasked as massive fraud kings. An end will be seen to the deadbeat nations which do not adequately pull their weight. They must industrialize. They must demonstrate a gold reserves vault in order to become a viable player in global trade. In the aftermath, Gold will benefit with more demand for trade payment basis equity, like in the Gold Trade Note.