In an exclusive interview, Michelle Makori, the Lead Anchor and Editor-in-Chief at Kitco News, engages in a thought-provoking conversation with Carol Roth, the renowned New York Times bestselling author of ‘You Will Own Nothing.’ During the interview, Roth issues a stark warning about the impending financial world war, where the balance of power will undergo a significant shift. She sheds light on the global elite’s strategic plan to emerge victorious, a process that poses a threat to individual ownership and places us under centralized control. Roth further elucidates the underlying motives behind the World Economic Forum’s ambitious 2030 agenda and explores the potential risks associated with central bank digital currencies (CBDCs). Additionally, she emphasizes the significance of personal ownership and offers valuable insights on how individuals can take a stand and resist these encroachments.
The recent discussions surrounding the US dollar as the leading global currency have gained significant attention in Tech Revolution. With China’s increasing economic power, the concept of “de-dollarization” has emerged, referring to the shift away from utilizing the US dollar for international trade and investments. This development holds immense significance as it has the potential to disrupt the global financial landscape and redefine the functioning of money on a global scale.
Tom extends a warm welcome to economist John Williams, the creator of Shadow Government Statistics, on the Palisades Gold Radio program. During the show, Williams discusses his experience in economics and economic modeling, which prompted him to closely examine government statistics for possible inaccuracies. His focus shifted towards employment data revisions and m----------n, leading him to express concerns about the impact of inconsistencies on the accuracy of forecasting. Despite some progress, Williams maintains a skeptical stance towards the reliability of these statistics.
The Atlantis Report provides updates on the importance of readiness for potential disruptions in the global financial system. For many years, the US dollar has held a prominent position as the primary currency in the international monetary system, acting as the world’s reserve currency and playing a crucial role in global trade. Nevertheless, an unexpected coalition formed by the BRICS nations is actively establishing the foundation for a daring initiative that could overthrow the dominance of the dollar and redefine the regulations governing the global economic landscape.
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Kitco NEWS
May 17, 2024
Michelle Makori, Lead Anchor and Editor-in-Chief at Kitco News, interviews Carol Roth, New York Times bestselling author of ‘You Will Own Nothing,’ who warns that we are on the brink of a financial world war where financial stakes will shift. She dives into the global elite’s plan to come out on top – the process that threatens to leave us owning nothing and under centralized control. Roth explains what is behind the World Economic Forum’s 2030 agenda and delves into the risks associated with central bank digital currencies (CBDCs). She also highlights the importance of personal ownership and what you can do to fight back.
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Tech Revolution
May 17, 2024
The US dollar being the world’s top currency is a hot topic lately, especially with China’s growing economic strength. People are talking about “de-dollarization,” which means moving away from using the US dollar for international trade and investments. It’s a big deal because it’s about to shake up how money works globally.
Countries all over, from powerful ones in the East to up-and-comers in the South, are shouting for more control over their own economies and less reliance on the dollar. As you might have heard, Russia and China, for example, are teaming up to find other ways to do business that don’t depend on the dollar. And it’s not just them—places like Southeast Asia and Latin America are also jumping on board, trying to use different currencies for their deals. Plus, some countries have already tried backing their currencies with gold and seem to be sticking with it.
For a long time, the US dollar has been king in global finance, used for big international trades and stuff. But now, more and more countries are trying to reduce their dependence on the dollar. They’re doing this for different reasons—some want to protect themselves from US policies or possible punishments, while others just want more control over their own money. With all these global recent changes happening, it makes you wonder: Is the US dollar’s time as the top global currency coming to an end?
As the world’s political landscape keeps changing, more and more countries are looking for ways to rely less on the U.S. dollar, which has been the big cheese in global money for a while now. The BRICS nations have been making moves to create a new currency that’s backed by stuff like gold and other commodities. They’re hoping this will give them another option for doing business globally, instead of always using the dollar.
With the West slapping sanctions on them, Russia and China have gotten even closer economically. They’re starting to do more of their trade using their own currencies, rather than the dollar. And they’re not alone—more countries are thinking about ways to rely less on the United States and flex their own economic muscles.
Here are a couple of things we might see happening: Countries might start making deals with each other to trade using their own currencies, which means they wouldn’t need the dollar in the middle.
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Also, digital currencies created by central banks could shake things up, challenging the traditional way we use money, including the U.S. dollar, for international deals. Plus, groups like the Eurasian Economic Union and the Association of Southeast Asian Nations might think about coming up with their own currencies or payment systems, so they’re not always depending on the dollar.
In February, China’s stash of US Treasury bonds dropped to $775 billion, down $22.7 billion from the previous month. This is the second time this year it’s shrunk, according to data from the US Department of the Treasury released on Wednesday. Despite the dip, China still holds the title for the second-largest holder of US government debt. But it’s been holding less than $1 trillion since April 2022.
In January 2024, China cut back its US Treasury holdings by $18.6 billion. Experts suggest that this downsizing is part of a bigger plan to re-arrange China’s foreign reserves. Factors like how much money’s coming in and out of the country, plus the profits China makes on those US Treasury bonds, are playing a role in this move.
As more countries are ditching the dollar, China’s speeding up its plan to mix things up with its reserves. It’s increasing its stash of gold and using more of its own currency for international deals.
By the end of March, China’s gold reserves hit 72.74 million ounces, up by 160,000 ounces from the month before. Plus, its foreign reserves grew to $3.25 trillion, a jump of $19.8 billion, or 0.62%, from February, according to the State Administration of Foreign Exchange’s data released on April 7.
China’s thinking long-term. By stocking up on gold, it’s not just preparing for economic uncertainty but also sending a signal that it’s ready to shake things up in the global financial game. This move aligns with China’s bigger plan to rely less on the US dollar and be more financially independent, which could give it more power in the global economy.
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Palisades Gold Radio
May 17, 2024
Tom welcomes economist John Williams, the founder of Shadow Government Statistics to the show. Williams shares his background in economics and economic modeling, which led him to scrutinize government statistics due to their potential inaccuracies. He became particularly concerned with employment data revisions and m----------n. Despite improvements, he remains skeptical about inconsistencies’ impact on forecasting accuracy.
Williams discusses the misrepresentation of inflation through changes in reporting methodologies, such as the Consumer Price Index (CPI). This underreporting of inflation affects cost-of-living adjustments and pension payouts, leaving retirees facing significant financial challenges. The pandemic exacerbated these issues with distorted CPI reporting.
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He also criticizes the current economic situation’s representation through GDP growth rates, which may not accurately represent underlying economic conditions. Inflation can lead to an increase in reported real GDP without actual sales growth. The excessive money supply injected into the economy during the pandemic is another major contributor to inflation.
Despite attempts to control inflation through interest rate hikes, the economy has suffered negative growth in critical sectors like retail sales, industrial production, housing, and employment. The Federal Reserve prioritizes the banking system over the economy, making high interest rates more beneficial for banks than for consumers. The historically large disparity between Gross Domestic Product (GDP) and Gross Domestic Income (GDI) further highlights a weak economy.
John predicts that despite rising GDP, there is a potential worsening in the next six months with underlying economic downturn and potential high or even hyperinflation. He advises holding precious metals like physical gold and silver as a hedge against inflation and preserving purchasing power during these uncertain times. Gold has been an effective hedge against inflation over the last 40 years, although it can also be manipulated.
Williams believes that the Federal Reserve will continue to intervene with monetary policies despite their inflationary effects. He encourages listeners to visit shadowgovernmentstats.com for more information and to contact him directly at johnwilliams@shadowstatts.com. His website was recently taken down, but the old site remains accessible for background information.
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The Atlantis Report
May 17, 2024
Be prepared for a disruption in the worldwide financial system. The US dollar has long been the dominant currency in the international monetary system, serving as the world’s reserve currency and the backbone of global trade. However, an unlikely alliance of the BRICS nations are laying the groundwork for a bold move that would dethrone the dollar and rewrite the rules of the global economic game.
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