This Project Is the FUTURE! It Changes Everything for Gold & Silver Prices - Andy Schectman

This Project Is the FUTURE! It Changes Everything for Gold & Silver Prices - Andy Schectman

The connection between mBridge, BRICS, and an alternative to the petrodollar has become increasingly significant, particularly with the Saudi Central Bank joining the mBridge project and ending the 80-year-old petrodollar agreement. Analysts speculate that Saudi Arabia might transition from using the US dollar for oil and trade transactions to alternatives like the yuan, a central bank digital currency (CBDC), or another gold-backed digital currency. mBridge, positioned as an alternative to SWIFT, addresses inefficiencies and sanction enforcement challenges by enabling central banks to manage their own sanctions lists. Notably, this project excludes the US dollar and emphasizes the role of gold as a tier-one asset.
According to renowned analyst Andy Schectman, the BRICS countries aim to maintain monetary autonomy while engaging in cross-border trade using a new currency known as the "unit," which is reportedly 40% backed by gold. This currency facilitates trade among BRICS nations and reduces reliance on the US dollar, potentially challenging its global dominance. The discussion underscores China's strategic focus on commodities, viewing them as critical to the future economic landscape. China has been actively acquiring natural resources worldwide, signaling a shift towards a commodity-backed economic system, often called Bretton Woods 3.
Andy also points out the challenges of transparency, particularly regarding China's gold reserves. Central banks globally use the "gold revaluation account," where gold is officially valued at an outdated price of $35 per ounce. This account allows central banks to maintain stable balance sheets despite market fluctuations, suggesting that countries could significantly revalue their gold reserves to reflect actual market prices. Such a move could have profound implications for global financial markets, potentially undermining the value of fiat currencies like the US dollar.
The head of the Dutch National Bank frequently emphasizes the importance of the gold revaluation account, especially in light of the bank's currently negative balance sheet. Despite these financial struggles, the institution remains confident due to the $20 billion stashed in this account. Usually, gold would be listed as an asset on the balance sheet, but central bank regulations prohibit offsetting this with liabilities. Instead, the gold revaluation account, a liability entry, lists gold at an antiquated valuation of $35 per ounce. This arrangement means that if gold were revalued to a more current market price, it could convert the balance sheet from negative to positive, significantly improving the bank's financial standing.
Recent developments underscore this potential shift: the Bank for International Settlements (BIS) has reclassified gold as a tier-one asset, central banks worldwide are acquiring gold at unprecedented levels, and countries are increasingly repatriating their gold reserves. The BIS's involvement in Project mBridge—a cross-border payment system—and introduction of a new currency called the "unit," partly backed by gold and subject to stringent audits, suggest that gold could soon be integrated into a new global monetary framework. Andy sees that Keeping gold purchases and reserves under wraps until a revaluation occurs might be a deliberate strategy to maintain leverage and avoid disrupting market dynamics.

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