The Threat of International Digital Currency to the Value of the Dollar | The Gold Standard 2315

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Welcome to another episode of The Gold Standard, where we dive deep into finance and economics. In this episode, we tackle the growing threat of international digital currency to the value of the US dollar.

Ken Russo, Vice President of the Midas Gold Group, joins us to discuss the rise of central bank digital currencies (CBDCs) and the danger it represents to disrupting our traditional monetary system. We’ll explore the possible implications of CBDCs on the value of the US dollar and the global economy and how owning physical gold and silver can protect our financial privacy in the age of digital currencies.

The real danger in CBDCs is that there is no limit to the level of control the government could exert over people if money is purely electronic and provided directly by the government. A CBDC would give federal officials complete control over the money going into and out of every person’s account. Officials could easily and instantly freeze all or part of your money. The government could even exert a frightening amount of control over how and where you spend your money.

Any way you look at it, another fiat money experiment is grinding to an inevitable conclusion. The Universal Monetary Unit by the IMF will only continue more of the same problems. Only this time, banks will be able to do things faster and monitor everyone.

We discuss the possible implications of CBDCs on the value of the US dollar and the global economy. We point out that if other countries adopt a digital currency, they may start to diversify away from the US dollar, which could lead to a decline in the value of the dollar. The devaluation of the dollar, in turn, could have severe consequences for the US economy, which relies heavily on the strength of its currency.

The official reason CBDCs are gaining momentum is that they would offer greater control and oversight over the financial system. They could significantly reduce counterfeiting and track financial flows. The more valid reason is that the present monetary system has hit a wall. The banks are in trouble, and they’re all scrambling to find a solution. The can has been kicked down the road as far as it will go.

The capacity to make stuff is true wealth. Actual capital formation isn’t money. It’s the means of production and depends on how many physical products you can build. The Industrial Revolution shifted from the United Kingdom to America because we had the resources and the willingness to take full advantage of those resources to manufacture goods and bring them to market.

Ultimately, the US became an industrial juggernaut for decades. Now, China has more of an industrial capacity. China continues to add to its gold reserves. Central bank purchases of gold hit a record in the third quarter of last year.

Precious metals, like gold and silver, protect our money’s value and financial privacy. Ken explains how gold and silver have been used as a store of value for centuries and have traditionally been considered a safe-haven during economic uncertainty. Ken Russo highlights how owning physical gold and silver can protect individuals from government surveillance and maintain their financial privacy.

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