In this absorbing interview, Darryl and Brian Panes from As Good As Gold Australia talk with the incomparable, Lynette Zhang from ITM Trading in Phoenix Arizona.
In this absorbing interview, Darryl and Brian Panes from As Good As Gold Australia talk with the incomparable, Lynette Zhang from ITM Trading in Phoenix Arizona. Russia is now selling its largest exports for Rubels or Gold, and there is a very definite movement away from the US dollar. Could this move by Russia establish a trend and be duplicated by typically, China, Germany or Italy, who already have significant gold holdings, and lead to the demise of the dollar's dominance and reserve currency status? Lynette's response is intriguing. What would be the ramifications of a seriously devaluing or failing US dollar? Which countries would be in the best position to establish Reserve Currency status? Just recently, Canadian protesters experienced the unimaginable! Their bank accounts were frozen!!! We ask the question - could this happen anywhere else in the world - and if so, who might be next? Yesterday the RBA announced the first interest rate rise in over a decade. The first of many. Potentially, one per month until the end of 2022. Could this plan to curb inflation and reduce the cost of living expenses risk a massive increase in mortgage defaults here and in many countries around the world? John Adams, AGAGA's Chief Economist and Bill Holter think so, suggesting that a maximum of 3 increases is all that the economy could stand - then the RBA would be forced to reverse their decision, lowering interest rates and start another bout of QE, leading ultimately to hyperinflation. Clearly, Central Banks around the world are between a rock and a hard place. Lynette gives her impressions of what to expect next. A rise in the gold and silver price is an indication of a failing currency. Contrary to what people think, that prices are going up, it's essentially the value of the currency going down. Cars, houses, boats, food - don't go up in value. You just need more of the devaluing currency to make your purchase. Brian and Lynette's explanation of this process is worth its weight in gold. With hyperinflation on our doorstep, history confirms your best form of defense is gold and silver.