The global contagion has begun. At this writing thirteen fiat currencies are imploding, and currency markets no longer seem to be listening to the central bankers as any intervention has a very short or no impact at all. What the globalists feared, is now coming to pass. In my opinion, we have just entered the next phase of the fiat system unraveling as confidence in emerging market central bankers evaporates.
Since it is the “Full Faith and Credit” that supports the fiat system, this loss in confidence is critical. So what do governments and central bankers have confidence in? Physical gold.
They know that gold is real money with global value, that is beyond the control of any other government or central bank. They know, what J.P. Morgan knew at the start of this fiat experiment, “Gold is money. Everything else is credit.”