Nations Reclaim Gold, Rejecting US Debt. Yellen’s Failed Bid for Chinese Loans.

Welcome to AsianQuicktake, your source for global geopolitical news. In this video, we discuss the alarming growth of the U.S. federal debt, its potential impact on the U.S. dollar’s reserve currency status, and the risks it poses to the U.S. economy. U.S. federal debt has reached a staggering $ trillion, with over $1 trillion added in just 36 days since the debt ceiling was raised on June 3. The U.S. national debt clock serves as a reminder that the country’s wealth has primarily been acquired through the issuance and accumulation of significant amounts of debt. Over the years, the United States has adjusted its debt ceiling 103 times, while simultaneously imposing financial sanctions and asset freezes on several economies. Countries like Iraq, Libya, Venezuela, Iran, Afghanistan, Syria, Russia, and others have faced frozen assets by the United States. These actions have led to an increasing number of countries reducing their reliance on the U.S. dollar and U.S. Treasuries, while placing greater value on their gold reserves held in overseas vaults. Countries like Germany, France, Italy, the Netherlands, and many more have announced or planned to repatriate their gold reserves previously held in overseas vaults, such as the Federal Reserve. This growing trend signifies the importance countries attach to safeguarding their gold reserves as a protection against potential sanctions. The survey conducted by Invesco reveals increasing concerns among central banks, leading to more countries opting to keep their gold reserves within their borders. Middle Eastern oil-producing countries, including Saudi Arabia, the UAE, and Iraq, are secretly increasing their gold reserves and choosing to store them domestically instead of depositing them in institutions like the U.S. Federal Reserve Bank of New York. These countries have growing concerns about the creditworthiness of the U.S. economy, particularly due to discussions around the NOPEC bill, which could weaken OPEC and grant the U.S. the right to seize assets from oil-producing countries. As a result, Middle Eastern oil producers are accelerating the process of replacing the dollar and U.S. Treasuries with gold reserves and taking custody of their own reserves. The upcoming BRICS summit in Johannesburg, South Africa, is expected to discuss the issuance of new currencies backed by gold or rare earth resources. If successful, one-third of the global economy could use currencies backed by these resources instead of U.S. Treasuries and the U.S. dollar. With 36 known BRICS countries and applicants, accounting for one-third of global GDP and over 60 percent of the world’s population, the declining popularity of the dollar and U.S. Treasuries becomes evident. As more nations reduce their holdings of U.S. Treasury bonds, the status of the dollar is weakened, which will have significant implications for the U.S. economy. Global forces are uniting to push for the end of dollar hegemony, with countries selling off U.S. Treasury bonds, repatriating gold reserves, exploring new currency issuance, and strengthening cooperation on local currencies to diversify and stabilize their economies. Stay tuned for more updates on the shifting dynamics of the global economy and its impact on geopolitical affairs. Subscribe to AsianQuicktake for the latest world political news. Tags: U.S. federal debt, dollar reserve currency, U.S. economy, debt ceiling, geopolitical news, global economy, gold reserves, U.S. Treasuries, dollar hegemony, de-dollarization, BRICS, gold standard, U.S. debt crisis, global financial system, AsianQuicktake 💯TOP 3 Video Swiss Sells $36.4 billion U.S. Treasuries ▶ Africa Rejects US’ Blank Check ▶ China to Accelerate Dumping of Up to $800bn U.S. Debt ▶ ━━━━━━━━━━━━━━━━━━━━━ ✅ COPYRIGHT DISCLAIMER Asian Quicktake Doesn’t Fully Own Some of the Materials Compiled in Its Videos. It Belongs to People or Organizations Who Ought to Be Respected. If Used, It Falls Under the Following Provisions: Copyright Disclaimer Section 107 of the Copyright Act 1976. “Fair Use“ is Allowed for Purposes Such As Criticism, Comment, News Reporting, Teaching, Scholarships, and Research. ━━━━━━━━━━━━━━━━━━━━━ ✅ If You Are the Owner of the Materials Used in This Video, Let us Know in the Comments or Send a Email to me. We Will Follow Your Request Immediately. ━━━━━━━━━━━━━━━━━━━━━ ✅ FINANCIAL DISCLAIMER This Channel’s Content Should Not Be Interpreted or Construed As Financial Advice. We Are Not, and Do Not Claim to Be, an Attorney, Accountant, or Financial Advisor. This Channel’s Content is Not a Substitute for Financial Advice and is Solely for Entertainment Purposes.