GOLD TO PAY OFF DEBTS? $700B US Bond Exodus and the Quest for a New Gold Standard.｜AsianQuickTake

Welcome to Asian QuickTake, your source for global insights on politics and economics. I’m Jacob. Tags: Global Economy, U.S. Treasury Yield, Financial Markets, U.S. Debt, U.S. Dollar, Gold Standard, Central Banks, Economic Challenges. Here’s your YouTube video description: On October 20th, the 10-year U.S. Treasury yield, a key global economic indicator, surged past the 5% mark, its highest level since 2007, stirring up global financial markets. Major U.S. stock indices, including the Nasdaq Composite, registered declines, reflecting growing concerns worldwide. The excessive issuance of U.S. debt has contributed to the surge in U.S. bond rates, especially after a credit rating downgrade and additional Treasury issuances. Foreign demand for U.S. government bonds has waned, with Japan and China significantly reducing their holdings. This shift in foreign policy, particularly China’s consistent divestment, raises concerns about a potential liquidity crisis. The U.S. dollar’s transformation from a gold-backed currency to one anchored in U.S. bonds highlights economic challenges like high inflation, rising interest rates, and mounting debt. Federal Reserve Chairman Powell’s comments echo these concerns, raising questions about the dollar’s future. The erosion of the U.S. dollar’s value and creditworthiness underscores the need for addressing increasing U.S. debt. Economist Barry Eichengreen suggests that U.S. debt expansion poses a risk to the dollar’s global supremacy. Lawmakers like Marjorie Taylor Greene propose a return to the gold standard, potentially linking the dollar to gold reserves. Transparency in gold reserves is another crucial aspect. Alex Mooney has introduced legislation aimed at enhancing transparency in U.S. gold holdings and transactions. This move addresses concerns about the lack of transparency in gold reserves. Central banks worldwide are strengthening gold’s role in the international monetary system. China, in particular, has increased its gold reserves for eleven consecutive months, amid central banks selling U.S. bonds to buy gold. This shift comes as China divests from U.S. bonds and continues to accumulate gold reserves. The recurring defaults on U.S. debt, along with U.S. allies moving away from the dollar, are trends worth watching. These developments may influence the future of the U.S. dollar, potentially accelerating a dollar collapse. Stay informed about these critical economic shifts. Don’t forget to like, subscribe, and hit the notification bell for our updates on global economics and politics. Thank you for watching, and we look forward to your presence in our upcoming videos. 🌍📉🔔 💯TOP 3 Video China Shocks Yellen With Massive Selling of U.S. Bonds and Buying of Gold ▶ China to Accelerate Dumping of Up to $800bn U.S. Debt ▶ Swiss Sells $36.4 billion U.S. Treasuries ▶ ━━━━━━━━━━━━━━━━━━━━━ ✅ 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.