A New World Currency is Shaping, Blink and You’ll Miss it
The era of globalization is over
The Washington Post wrote a story this year titled, “Jerome Powell to the Rest of the World: Drop Dead.”
WaPo was a touch early here.
Today, however, that prediction became true: the era of globalization, peace, and free trade are over. This is different.
Japan surprised everyone Tuesday by raising a benchmark interest rate and acknowledging that the U.S. Federal Reserve’s monetary tightening is screwing their economy. Japan is known for its ultraloose monetary policy, they were the last pillar, the final domino, now they are hinting that the U.S. will indeed hold interest rates high indefinitely.
In plain simple non-nerdy financial talk: It’s the U.S. vs. Everybody — and we’re losing. The dollar is no longer a safe haven for the world… so, ask yourself, where did all the money go?
Gold.
Gold and one other asset: the new world currency.
The World We Knew for 30 Years Is Gone
I know everyone says this — they said it when Jesus turned water into wine, when the Dutch discovered the East Indies, and when Apple released the iPhone.
