Expect an Even Faster Decline in US Dollar as Reserve Currency

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SUBSCRIBE to Our Channel: https://www.youtube.com/c/sdbullion?sub_confirmation=1 US Treasury Secretary Janet Yellen stammered to the US Congress this week that we are increasingly moving into a more multipolar reserve currency world.

On the left-hand side of the first World Reserves chart, we see how world central bank reserves or government savings were comprised at the end of the year 2000, and then on the right, we see how they were reported at the end of the last year 2022.

Even with the spot gold price having risen over six-fold in this 22-year time span, and central banks massively net buying gold bullion since the 2008 global financial crisis onwards. Official gold reserve holdings have still fallen in comparison to a myriad ramp in fiat currency debt IOU notes and bonds held by the world’s collective government central banks.

From IMF fiat-denominated SDRs (Special Drawing Rights) to other competing fiat currencies like the fiat Chinese yuan. The world’s currency holdings are likely to only get more diversified and localized based on direct trade settlements without fiat US dollars continuing to receive intermediary demand as the Bank for International Settlements begins implementing its coming direct mCBDC and CBDC trading settlement platforms across the world.

Imagine how this second chart is going look if we go out two more decades after the spot price of gold has ramped and we find ourselves in a fully implemented mCBDC & CBDC trading world. One that will likely prove all-time secularly bearish for fiat US dollar demand globally.

Nothing that Jerome Powell or Janet Yellen said this week changes the damning data’s past, nor that gold’s coming mania phase seems inevitable.

These simple charts cut through their propaganda, all their fiat currencies devalue vs bullion over time.

The current fiat US dollar has already lost -98% vs gold bullion since the start of 1970.

It is a similar story for all the myriad fiat currencies that have flooded the world over the last five decades plus. Just wait until we go even more digital, and they begin monetizing their coming record IOUs further.

Take the long view and get your prudent bullion position secured soon.

Silver and gold spot prices had choppy sideways price action through various Fed rate hike skips and jobs report interventions.

The bullion-buying public has basically disappeared, and premiums have been falling across the bullion industry as inventories build for the next big buying wave impetus.

The spot silver price closed above $24 oz an ounce in both bid and ask, while the spot gold price closed just above $1,960 oz ask.

The spot gold-silver ratio closed flat at 81.

So that is all for this week’s SD Bullion Market Update.

As always, to you out there, take care of yourselves and those you love.

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