Luke Gromen
@LukeGromen
·
6h
Agree...and it also can't hold when US and UK manipulate the price of gold by allowing the unconstrainted expansion of unallocated "credit gold" to control gold's price.
So China called "bullsh*t" & said "Fine, give me the gold"
In 2019, US DOJ criminally charged JPM's gold desk for gold manipulation under US RICO (racketeering) statutes, and then in 2021, Basel changed NSFR rules for gold which amounted to Basel telling TBTF banks to "get onsides vis a vis unallocated gold" (i.e., stop shorting gold, it's going WAY higher.)
And so here we are at $5,000 gold & gold about to surpass USDs in global FX reserves
US cannot make weapons today w/o China, and US cannot reshore defense base if USTs remain primary reserve asset.
So back to gold as reserve asset we are going....