Gold is a chemical element, symbol Au, atomic number 79 and atomic weight 196.967. Certainly, gold is classified as heavy and noble metal; In commerce, it is the most common of precious metals. The source of the chemical symbol, Au, is its name in Latin aurum (radiant dawn).
It should be noted that about three-quarters of the world’s gold production is consumed in jewelry. Its industrial applications, especially in electronics, consume 10–15%. The remainder is divided between medical and dental jobs, coinage and reserves for the government and individuals. Coins and other decorative gold objects are actually alloys because the metal is very soft (2.5–3 on the Mohs scale) to be useful with frequent handling.
Now, it is important to raise some questions that have arisen, in the United States losing its control over the world? And could the dollar finally be dethroned from its place as the world reserve currency?
The growing frustration of the world
Certainly, during the past week, Peter Schiff appeared on RT, along with former Pentagon official Michael Maloof, to talk about the growing frustration of the world with the United States. Peter said countries around the world are ready to get rid of the United States.
Maloof began the segment by saying that because the United States has engaged in an economic war with other countries that use sanctions and tariffs, many countries are looking for alternatives. He said that even strong allies such as Western European countries are starting to turn further eastward as a result.
While for his part, Schiff pointed out that the problems for the United States began long before Donald Trump. Also, assure you that the collapse of the dollar is inevitable.
Exactly, Schiff Express, “In fact, the deficits are getting bigger, both trade and budget deficits. What has enabled this over the years has been the world’s willingness to hold US dollars as the primary reserve currency and to continue to loan money to Americans and to the US government so we can continue to live beyond our means. We can have enormous government programs that we don’t pay for and we can consume all kinds of goods that we don’t manufacture, and we can live in an economy based on consumption and debt without having to save or produce. The world has done that for us. And I think this is what’s going to come to an end. I think we’re going to see a collapse in the value of the dollar, and when the dollar does collapse, America’s power is going to dissipate. And Americans are going to have to deal with reality that we’ve hollowed out our infrastructure; we’ve been living beyond our means. And there’s going to be a day of reckoning for these years of excesses”.
Source: SchiffGold
No comments:
Post a Comment