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‘The dollar is losing credibility’: why central banks are scrambling for gold (www.theguardian.com)
submitted 9 months ago by to c/world@lemmy.world
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As Donald Trump shatters the global rules-based order, official institutions (and private investors) are scrambling to buy gold: the share of the asset in central banks’ reserves has doubled in the past decade to more than a quarter, the highest level in almost 30 years.

Although this partly reflects the soaring bullion price, experts say central banks are also stuffing their vaults as an insurance policy in a volatile world. Many are also rushing to repatriate gold stockpiles held overseas, and slashing their exposure to the US dollar.

“We have moved from Pax Americana to global discord, geopolitically. It is the law of the jungle when we see what the US are doing,” says Raphaël Gallardo, the chief economist at the asset manager Carmignac.

“Investors – private and sovereign – believe their strategic reserves are no longer safe in dollar terms, as they can be confiscated overnight. The dollar is losing the credibility as the nominal anchor of the global monetary system because the Fed is losing credibility, and US Congress is losing its credibility.”

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[–] 7 points 9 months ago* (last edited 9 months ago)

With the racist tRUMP supporter down the road it took quite a few 'debates' about politics and immigration but first I just kept on calling tRUMP a paedo and stupid for going bankrupt 6 times.
There's no point in talking to these type of people about fascism and racism, they are proud of that. However no one will admit to liking the raping of children and women...

I hammeref on about the different accusations and trials about all the sex assaults. And then I started on the numerous rape trials and conviction. The pussy grabbing stuff. The child pageant thing where he'd barge in on the young girls. The thing where he'd talk about dating his own daughter etc.

Then the paedo stuff, talking about the 13 year old girl who he raped with his best mate Epstein. I have it saved on my phone so I could read from it, then said "this info is easy to find but I'll send this website to you if you want..."

On another occasion I went on about the Jeffery Epstein stuff and his convictions for the paedo and child trafficking stuff, and the island they all used.

The court cases and fines for the stealing of money from children's charities etc etc.

At the end of all these debates I'd end it with something like "but, hey, if you're ok with that type of stuff then that's up to you. Anyway I've got to go..." It puts the onus on him to think whether it's ok or not.
Or something like "right I'm off, but now you know what I've just told you about his liking for little kids would you trust him with your daughter...if so then, wow... Anyways, see you later"
I never waited for a reply because I wanted him to think about it, not justify things to me.

The very last time he tried to talk politics I finished it with "...and that's the type of person you support. Which is fine if that's what you want, but I judge you by his disgusting reputation. And, believe me, if I do that then so do others."
Since then he never talks to me about politics.

The thing is you need to know the info about the rape stuff, the kiddie stuff, the Epstein stuff, the criminal stuff, etc etc. You have to back it up and not let them hand wave it away.
Tell them how shitty he is, back it up with facts, point out that's the person they support, then leave.

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