Ripped From The Headlines, December 28, 2023
Updates On The Progress Of Sound Money Act Legislation In Multiple States, And The Move By Russia And Iran To Ditch The US Dollar, Biden Channels Carter - Read, Share, & Subscribe - SherlocExposes.com
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“Bills filed in Florida and Oklahoma for the 2024 legislative session would create state precious metals bullion depositories. State-run bullion depositories would not only create a place to store precious metals; they could also encourage the use of sound money in those states and set the stage to undermine the Federal Reserve’s monopoly on money.
Sen. David Bullard filed SB1351. The legislation would create the Oklahoma Bullion Depository in the Office of the State Treasurer. The depository would serve as “the custodian, guardian and administrator of certain bullion and specie that may be transferred or acquired by the state, or an agency, political subdivision or other instrumentality of the state.” The depository would also accept deposits of gold and silver by private individuals.
Significantly SB1351 would establish a mechanism for individuals to engage in transactions using precious metals including gold and silver.
“The depository shall make available a debit card, issued upon a request by the depository account holder, in which the depository account holder may make transactions which are debited from the balance of the holder’s account. The balance available to the depository account holder through use of the debit card shall be equal to eighty percent (80%) of the current spot price of the deposits of the depository account holder.”
In Florida, Rep. Doug Bankson and Rep. Chip LaMarca filed H697 on Dec. 4. Sen. Ana Rodriguez filed a companion, S750, on Dec. 6. These bills include several provisions to treat gold and silver more like money, including language to establish a bullion depository.
A depository account holder would be able to purchase, sell, deposit, or withdraw bullion. It would include “electronic systems” for the purchase and sale of bullion for depository account holders who cannot or choose not to travel to the physical location.
The bill includes provisions for the creation of an electronic currency backed by gold or silver and made available to the public. This would open the door for people to use precious metals stored in the depository in everyday transactions.
THINGS TO PONDER:
This is a MAJOR move to flip the balance of power back to the people…
Most don’t realize that Article 1 Section 10 of the US Constitution is the ultimate backstop against Federal mismanagement and overreach.
We The People really do have the power… if we choose to use it.
Click Here to learn more about The Florida Sound Money Act and what’s happening next.
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“Russia and Iran have finalized an agreement to trade in their local currencies instead of the U.S dollar, Iran's state media has reported.
Both countries are subject to U.S. sanctions.
"Banks and economic actors can now use infrastructures including non-SWIFT interbank systems to deal in local currencies," Iran’s state media has declared.
Moscow has lately been cozying up to Tehran, with Iran revealing in November it will provide Russia with Su-35 fighter jets, Mi-28 attack helicopters and Yak-130 pilot training aircraft.
The global de-dollarization drive has been going on for years with BRIC countries and the so-called pariah states trying to ditch the American dollar in favor of other currencies.
Back in 2019, Putin declared that time was ripe to review the dollar’s role in trade. At that time, Russia and China considered switching to the euro, the world’s second most dominant currency, as an acceptable stalemate, with the ultimate goal being to use their own currencies.
Russia has declared it will no longer accept the American currency as payment for its energy commodities but will instead switch to Chinese and Emirati currencies.
However, global de-dollarization efforts have borne little fruit with the vast majority of cross-border transactions involving BRICS members continuing to be invoiced in dollars. Indeed, exchanging BRICS members’ local currencies with each other and with other emerging market currencies frequently requires using the dollar as an intermediary.”
THINGS TO PONDER:
This article is a great example for research and forecasting purposes…
What someone should take away from this is that countries are moving in this direction…
Which means more countries will do the same…
Which means that you’ll continue to see a reduction in the use of the dollar as the intermediary…
This isn’t an if, it’s a when.
As we mentioned in yesterday’s edition of Ripped From The Headlines, the number you should be watching is the percentage of dollar reserves around the world, which is currently at 58%.
When that number drops below 50%, game over.
Proceed with caution.
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“When an unpopular Democratic incumbent president was struggling to build support for a second term, a young Delaware senator floated the idea that the party consider other options for the top of the ticket.
“That man’s in trouble, politically in trouble,” Joe Biden said of then-President Jimmy Carter in July 1979, according to an account at the time in the Wilmington Evening Journal. Biden had held off on publicly backing Carter because he wanted to endorse a candidate who would ensure Democrats retained the White House in the 1980 election. “I’m not certain that’s Jimmy Carter right now,” he told the paper.
Biden was in a position to know. He held a leadership post in Carter’s successful 1976 presidential bid after becoming the first sitting U.S. senator to endorse him. Biden eventually backed Carter’s failed 1980 re-election bid, and the bond they formed early in Biden’s career lasted through a large part of their lives.
Now Biden is himself in the White House and stumbling in some of the same ways as Carter as he sets out to win a second term. Both men struggled to sell legislative victories and retain the party’s core voters as high inflation and foreign-policy disasters eroded their support. And both men had a disconnect with voters that’s leaving Democrats afraid that Biden could share Carter’s political fate of being a one-term president.
“They both have made important decisions that are substantively in the interests of the country—but when they charge up the hill and they look behind them, there are not a hell of a lot of people following,” said Jonathan Alter, a Carter biographer. “Biden is experiencing some of the basic leadership challenges that Carter did where he’s losing his connection to the American people as Carter did.”
THINGS TO PONDER:
Pot, meet kettle…
We could give you a long explanation of what’s happening, but it’s pretty self-explanatory…
Just look back to Carter’s administration to understand what you’re going through today…
And what the result was.
As has been long said, there’s nothing new under the sun.
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