BIDEN WATCH: 2.11.23 - Will Gold replace the Petrodollar?

 Will Gold replace the Petrodollar? – Todd Strandberg - https://www.raptureready.com/category/nearing-midnight/ For decades, foreign nations have tried to get away from the dollar. They disliked America’s financial dominance by holding the world’s reserve currency. The dollar has itsgreat dominance in the oil market. The petrodollar system is essentially the global practice of exchanging oil for US dollars rather than any other currency. This means that no matter what country is buying the oil, they pay the oil-producing country in petrodollars,which are denominated in US dollars. The dollar-based system survives on trust. People know it’s not going to lose any major value in a short period of time. Because there are so many dollars in circulation,traders can move huge mountains of cash in various transactions in a matter of seconds. In 2018, the average total volume of treasury securities traded per day was over 547 billion US dollars. A dealer in France can get a dollar-based loan and buy $200 millionworth of steel out of Australia. China has tried to convince the world that its renminbi would make a good replacement for the dollar. President Xi traveled the world, making one trade agreement after anotherthat promised both nations would use their own currency for trade. Nothing happened because few people trust a currency that is completely controlled by the Chinese government. If a financial crisis occurred in China that caused the value of the renminbi tocollapse, holders of the currency would suffer major losses. A key driving force in why nations wanted to get away from the dollar is the American practice of using it as a weapon against other nations. Since 1990, the use of sanctionsby the United States significantly increased, and since 1998, the United States has established economic sanctions on more than 20 countries. The Russians had their bank accounts locked up because of their invasion of Ukraine. It’s not just thugs and dictators that have to toe the line with American policy. Banksin Switzerland long had a history of secrecy with money. Uncle Sam said open your accounts so we can look for American tax dodgers, or we will kick out the dollar trade system. Switzerland had no choice but to comply. In many Latin American nations, it is very hard to open a bank account. The Fed assumes that anyone who sends money south of the border is dealing in drugs. You are a criminaluntil proven innocent. Many of the laws that were established after 9/11 have motivated the US government to stick its nose into everyone’s personal business. Another motivation for a dollar replacement is the massive national debt and trade deficit the US has with the rest of the world. Our current debt has reached $31.4 trillion,which was only $13 trillion in 2010. Our trade deficit is equally out of control. Each month foreign countries ship us $100 billion more in Goods than we ship to them. International bankers are increasingly coming to the conclusion that a gold-based system is the only way to wrestle control from America and put the US on a financial diet.Gold has no counterparty risk. If a nation has a ton of gold in a bank, there is no one in Washington who can press a button and make it worthless. No rich nation should ever allow gold to leave its border. When you read about countries selling off their reserves, it’s because they’re in a state of economic collapse.What allows a nation to retain its gold is a financial system that makes gold transactions on a fractional reserve system, the same way the dollar operates. A nation may have gold worth on the market $10 billion, but it can back a banking system of $100 billion. If a nation suffers high inflation, the citizens can be protected by the value of gold soaring in price. India has suffered many financial calamities over the years. Millionssurvived the hardship by having their core assets in gold. One overhanging reason why we need a financial system is related to what happened during the Great Recession of 2008-2009. The world had a massive meltdown with losses reaching,in one report, $26 trillion. The Federal Reserve is the only entity that could produce dollars, so it made good all these losses. A little over a decade later, the world is right back to those same levels of derivative and leverage. I don’t know what role the Antichrist would play in a gold reserve system. Since he will be the man with all the answers, he may introduce several of its key components. “Neither their silver nor their gold shall be able to deliver them on the day of the wrath of the LORD. In the fire of his jealousy, all the earth shall be consumed; for afull and sudden end he will make of all the inhabitants of the earth” (Zephaniah 1:18). -------------------------------- China balloons and a compromised president - BillWilson � www.dailyjot.com In January of 2020, J.R. Nyquist, co-author of �The New Tactics of Global War,� wrote a column for Epoch Times about a speech by a retiring Chinese Defense Minister some 20years ago that promoted Chinese policy using biological weapons against the America. General Chi Haotian said that the United States not only blocks China�s desires with conquering new lands like Taiwan, Vietnam, India, or Japan, but also has the land massto solve China�s growing overpopulation problem. The general said, �We are not foolish as to want to perish together with America by using nuclear weapons. Only by using non-destructive weapons that can kill many people will we be able to reserve America forourselves.� Chi added that China had seized the opportunity to master weapons of this kind. Fast forward to the so-called �spy balloons.� Joe Biden knew for almost a week about this CommunistChinese spy balloon coming across the Untied States before he did anything about it. This balloon was soaring some 60,000 feet above the country and it was the size of three school busses. It carried a large enough payload that Democrat political hacks wereconcerned that shooting it down would cause high risk to people below. Then when criticized about their lack of national security concern, these deep state flunkies went into high gear diverting attention to former president Trump rather than face the loomingissue of a possible deadly security violation. The question must be asked: Is Biden and the Democratic Party so compromised by China, that they will not protect the national security? This is a legitimate question. RememberJoe�s son Hunter and his laptop. In March 2020, there were 26,000 emails provided Breitbart News by Hunter�s former business partner Bevan Cooney who is in prison. The emails detailed how Hunter secured meetings with senior White House officials for ChineseCommunist elites�including a secret meeting with then-Vice President Joe Biden. The laptop reportedly had video of Hunter using cocaine and having sex with Chinese children. Back then, the media and national security deep state traitors censored these storiesand promoted the propaganda that they were the result of a Russian misinformation campaign. That misinformation campaign turned out to be run by the FBI and social media giants like Twitter and Facebook. Mainstream media also was complicit. Common sense would dictatethat the Chinese and Russians and Ukrainians have so much on Biden and his family that he cannot possibly make rational decisions to protect Americans. And that is why a Chinese spy balloon that could carry a deadly payload is allowed to float across Americandefense installations and population centers. Biden and his Administration should be removed from office for this alone. As Christ said in Luke 8:17, �For nothing is secret that will not be revealed, nor anything hidden that will not be known and come to light.� As the truth comes out about Biden and his family, it will show how he is compromised, but let us pray it�s not too late. ------------------------------