Monday, June 17, 2024

IMF Digital Currency to Replace the Dollar

by Martin Armstrong, Armstrong Economics:

Years ago, when I wrote that Bitcoin was created by the NSA, some Bitcoiners attacked me and insisted that Satoshi Nakamoto was the creator of Bitcoin.  Yet someone who created such a product never stepped forward and would have been a billionaire on royalties. But this fictional character was not much different than Lee Harvey Oswald, who the CIA has insisted killed JFK with his magic bullet. At least with Oswald, there was a real man who they cleverly ensured he would be killed to deny any trial. Then, the CIA refused to release files to cover up the entire affair.

Aussies flock to ATMs, withdraw thousands in cash as part of campaign against card payments

by Blake Antrobus, Aussie News:

Aussies have rushed to ATMs all over the country to withdraw thousands in cash – here’s why so many are doing it.

Aussies have flocked to ATMs all over the country to withdraw thousands of dollars in cash as part of a massive awareness campaign against card payments.

The Cash is King Australia Facebook group promoted the unofficial Cash Out Day to their 27,000+ followers, calling on anti-card activists to withdraw from bank branches or machines.

Saudi Arabia Ends 80-Year-Old PetroDollar U.S. Agreement: Joins China-Led Central Bank Digital Currency Coalition

by Brian Shilhavy, Health Impact News:

This past Sunday (June 9, 2024) Saudi Arabia made the historical move to not renew an 80-year-old agreement with the United States that established the U.S. Dollar as the world currency to purchase Saudi oil, in what should have been headline news, but seems to have been blacklisted in U.S. financial news publications, even in alternative financial news publications such as ZeroHedge News.

Here is the coverage of this historic event from the The Business Standard, a Bangladeshi daily newspaper.

Silver Plating in Aerospace and Military: Existing Vaults Could Be Wiped Out by a Handful of Silver Plating Purchase Orders

by Jon Forrest Little, Silver Seek:

Outcrop Silver

Drilling the High-Grade Santa Ana Silver Project in Colombia.

Silver enthusiasts commonly are told Silver is used for electronics, solar, and necessary for the Green Energy Revolution (which is true) but below we will reveal a massive use of Silver that is never discussed because it hides behind the “secrecy and veil” of the Military Industrial Complex.

Silver plating is crucial for aerospace, military, and defense applications due to its excellent electrical conductivity, corrosion resistance, and lubricity. Here are the key details:


from X22report:


Going cashless leads people to spend more money

by Study Finds, Activist Post:

In an increasingly digital world, cash is becoming a relic of the past. With the rise of credit cards, mobile wallets, and Buy-Now-Pay-Later schemes, more and more consumers are ditching dollar bills for the convenience of cashless payments. However, this shift isn’t just about convenience – it may also be influencing how much we spend. A recent study sheds new light on the “cashless effect,” revealing that consumers tend to spend more when using digital payment methods compared to cash.

The findings, published in the Journal of Retailing, offer critical insights for retailers, policymakers, and consumers navigating our increasingly cashless society. Overall, going digital and no longer handing out physical currency leads to consumers spending more money than they would using cash. Interestingly, ditching cash isn’t great for everyone — especially service workers who rely on tips.

Silver Demand in the Solar Sector Could Squeeze Silver Supply in the Future

by Mike Maharrey, Silver Seek:

Silver use by the solar energy sector is one of the primary factors driving the overall demand for silver, and there is reason to believe photovoltaic silver off-take will continue to increase in the years ahead.

Not only is the demand for silver panels growing, but the amount of silver used in each panel is also increasing.

Industrial demand for silver set a record of 654.4 million ounces in 2023 and it is expected to hit new highs this year. According to the Silver Institute, ongoing structural gains from green economy applications underpinned this surge in silver demand.

US-Saudi Arabia Petro Dollar Pact Ends – Joe Biden’s Failures Are Bringing an End to Global Dollar Dominance

by Jim Hoft, The Gateway Pundit:

Leaders from the BRICS Alliance meet in 2018 including Vladimir Putin and Xi Jinping. The original BRICs nations included – Brazil, Russia, India, and China and South Africa.

In March 2023, South Africa’s Foreign Minister Naledi Pandor announced that Saudia Arabia, United Arab Emirates, Egypt, Algeria, Argentina, Mexico, Nigeria, and other nations wanted to join BRICS Alliance. This was a direct threat to the West and US dollar dominance.

GoldSeek Radio Nugget – Martin Armstrong

from GoldSeek Radio Nugget:


What’s Next For Silver Prices

by Craig Hemke, Sprott Money:

Volatile Few Months for Silver Prices

It has been a volatile few months for the silver price. After a solid rally in April and May, prices have pulled back thus far in June. So is this just a minor correction or the start of a significant pullback? We might be better able to answer that question by the end of this week.

Gold & Silver Get Slammed on Positive Economic Reports

by Mike Gleason, Silver Seek:

Gold has been the headline performer in the first half of the year – breaking records and commanding attention. But in the second half of 2024, silver may be set to steal the show.

Silver has been quietly outperforming gold since February. Silver prices surged to an 11-year high last month.

The junior monetary metal still has a long way to go in order to reach a new all-time high above $49 an ounce. Even if it doesn’t achieve that feat in 2024, it could still set a new record for a year-end closing price.

BRICS developing platform for transactions in national currencies – Lavrov

from RT:

Member states are seeking to improve the international monetary and financial system, the Russian foreign minister says

BRICS is prioritizing the creation of a platform that will enable member states to conduct transactions in national currencies, Russian Foreign Minister Sergey Lavrov has said.

Speaking at a meeting of the economic bloc’s foreign ministers in Nizhny Novgorod, Russia, Lavrov said BRICS was “actively working to implement the decisions of the Johannesburg summit last year, particularly when it comes to improving the international monetary and financial system, developing a platform for settlements in national currencies in mutual trade.”