Goldilocks’ Comments and Global Economic News Sunday Evening 1-7-24
Good Evening Dinar Recaps,
“Morgan Stanley cut its outlook for the US currency to ‘Neutral’ from ‘Bullish’. However, it noted that seasonality and short positioning could potentially still drive further upside, Bloomberg News reported.”
We have a lot of the BRICS currency countries getting ready to trade with each other sidelining the dollar along the way. Some have already begun this process.
This will move the price of gold to make up the difference in the following use of the dollar along with inflation that will eat at its value.
It will require more gold to fill in the gaps and create more and more need to support the dollar through these new capital requirements of Basel 3 about to be implemented on January the 16th.
This will create a profound effect on all of the Global currencies that rely on the dollar in trade especially those who are trading now in their local currencies.
As this year goes on, the need to utilize the worth of gold inside these currencies around the world will make the value of gold increase. It will enable the Global currencies to hold in reserve status more gold to support their currencies rather than the US dollar.
Over time, the use of gold will determine the new values our Global currencies will have. As these currencies formulate new values inside the markets and the banking system through use-case scenarios, we will develop standard protocols capable of leveling the playing field around the world.
© Goldilocks Live Mint Link Euromoney Link
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What Drives the Price of Gold? Investopedia Link
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As the year progresses, we will have a new World Reserve Status – in gold.
© Goldilocks
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Russia assumes BRICS chair, Putin unveils agenda as five more nations join group Times of India
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Stellar Vs Ripple – TokenPost
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Bitcoin ETFs Are Coming Fast. Crypto Investing Will Never Be The Same – Investor’s Business Daily Link
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