by Jon Forrest Little, Gold Seek:
The US dollar, a currency on the brink of a financial abyss, is in a critical state. With an alarming 34 Trillion debt, unfunded liabilities approaching 200 Trillion, and no signs of ceasing perpetual wars, the situation is grave.
The outcome? MORE MONEY PRINTING.
BRICS ++ can now purchase more oil (the lifeblood of our factories, cars, power grids, hospitals, schools, and militaries) with the gold proxy than they could previously using the US dollar, which has lost its petrodollar status.
The unprecedented offloading of US treasuries results in those dollars flooding back to US shores, triggering a 2nd wave of inflation.
In 2024, some banks will fail. In 2023, five banks failed. In 1989, over 500 banks failed. Since 1936, there were only 5 years without bank failures.