HUGE NEWS! United States Is About to Change Gold & Silver Prices FOREVER - Marc Faber

Marc Faber, a renowned contrarian investor and the Editor and Publisher of the “Gloom, Boom & Doom Report,” provides a distinctive perspective on investment strategy and the global economic landscape. Faber advises that while gold, silver, and platinum might experience short-term declines, holding physical gold remains a prudent long-term hedge.
Analysts consistently emphasize that gold will play an increasingly significant role in a multipolar currency world because it is one of the most liquid monetary assets in global financial markets. Evidence of the US dollar’s diminishing global role was seen this week when the trade agreement between the US and Saudi Arabia, which established the petrodollar, was allowed to expire.
Recent gold market fluctuations were influenced by algorithmic traders' activities relying on Chinese central bank purchases. These traders were unsettled when the People's Bank of China reported no increase in its gold reserves last month, ending an 18-month buying spree. Despite this, gold held critical support at 2,300 dollars on Monday and recorded a 1% gain heading into the weekend.
Faber also speculates that a stock market crash is unlikely in the near term. He believes the Federal Reserve would likely respond with further rate cuts and money printing to stabilize the market. He even considers the possibility of the US government declaring war, which could suspend elections, justify more significant deficits, and increase money printing.
The Federal Reserve's aggressive use of its balance sheet during the 2007-2009 financial crisis and the 2020 Covid-19 market panic was a pivotal strategy to stabilize financial markets. By absorbing bonds that would otherwise be in the portfolios of asset managers and investment vehicles, the central bank helped steady the markets. However, this approach also has costs. Overextending the balance sheet can prop up demand for risky assets, like stocks and cryptocurrencies, while stoking inflation, disproportionately affecting wage earners.
In the evolving global economic landscape, countries like China and India are increasingly rejecting the notion of a world dominated by the United States, as noted by economist Marc Faber. While Faber refrains from judging whether a US-led world order is preferable to one led by Russia or China, he emphasizes that these emerging nations strongly oppose US hegemony.
A significant aspect of this opposition is Russia's strategic movehase out the use the US dollar. President Vladimir Putin has urged the nation to reduce its reliance on "toxic" currencies. This shift began in earnest following the 2022 invasion of Ukraine and the subsequent imposition of Western sanctions. These sanctions have spurred Russia to accelerate its efforts to de-dollarize its economy, seeking alternative currencies to mitigate the impact of international financial restrictions.
This week, Russia announced a significant milestone in its de-dollarization campaign: the near-complete elimination of the US dollar in its bilateral trade with China. This move underscores the commitment of both nations to reducing their dependence on the US-led economic system. By shifting away from the dollar, Russia and China aim to diminish their reliance on the Western-dominated global currency and sidestep the extensive sanctions that have hampered Moscow's ability to engage in international trade.

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