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Is the return of Israel in the 20th century truly a work of God, or is it a result of a cosmic chess move to deceive the elect by the adversary?

Showing posts with label pound. Show all posts
Showing posts with label pound. Show all posts

Monday, May 1, 2017

Silver, not gold, was the basis for monetary systems across the world including the U.S. and China

Despite the fact that the United States was primarily on a gold backed monetary system until 1973, and where it was also the foundation for a global monetary system through the Bretton Woods accords of 1946, an interesting piece of history shows that not only was the dollar originally created using the auspices of silver, but so was the Yuan, the Yen, British Pound, and most currencies used in Latin America.

When the Spanish owned claim to the entire new world thanks to Christopher Columbus and an agreement signed by the Pope, the output of silver generated from North, Central, and South America was so great that it usurped gold's longstanding position as the basis for money, and spread across the globe to become the foundation for many of Europe and Asia's currencies.

US-Trade$ 1873-1878
Hong Kong was a British colony from its founding in 1841 until its handover to China in 1997. But the Hong Kong dollar isn't derived from the British pound. It doesn't even come from the U.S. dollar. In fact, the Hong Kong dollar and the U.S. dollar are both derived from the same source: the Mexican or “Spanish” dollar. So were the yuan, the yen and most of the currencies of Latin America. 
The Mexican or “Spanish” dollar was in wide use from the 1500s until the middle of the nineteenth century. If not the first global currency, the Mexican dollar was at least the first Pacific currency. Divided into pieces of eight, it is the currency of pirate legends and songs. It was minted in Mexico starting in 1536 from silver mined in Central Europe, in northwestern Mexico, but most of all in the “silver mountain” of Potosí in today's Bolivia. 
For four hundreds of years the Mexican dollar was, if not quite “the world’s first global currency,” then at least the key lubricant that greased the wheels of the world's trade. Most world histories are written from an Anglo-American perspective, as if the Americas suddenly sprang onto the stage in 1776 and China in the 1840s. In reality, as Gordon and Morales write, Latin America and East Asia were already important parts of the global economy in the 1600s. 
Even if there is some truth to the claim that Britannia ruled the waves, the Mexican dollar ruled the ports—on both sides of the Pacific. The British couldn't even get their own colonists to use the pound. Hong Kong, Singapore, Australia and Canada (to say nothing of the United States and Latin America) all used the Mexican dollar. And after the Mexican dollar finally slipped from the scene in the nineteenth century, it was the U.S. dollar that replaced it, not the pound. 
But the key to it all, then and now, was China. For the hundred years from 1540-1640 China was the vast sink into which the world's silver drained. The newly globalizing world—Europeans, but also Ottomans, Indians and especially Americans—all wanted what China had to offer, porcelains and silks most of all. But Chinese merchants wanted only one thing from the rest of the world: money. And in sixteenth century China, money meant silver. - National Interest
So the next time an analyst suggests that the world's currencies need to return to a gold standard for monetary stability, remember that the greatest economic growth in history took place when much of the globe was using silver rather than gold as it primary form of money.

Wednesday, June 15, 2016

As financial analysts predict Brexit to be the next Lehman event, British metals dealers see rush into gold

There are uncountable consequences being predicted should Britain choose to leave the European Union, and separate themselves from the continental trade coalition.  Some of these include effects on the Pound, the Euro, on the validity of current trade agreements, and on potential losses should the European Commission choose to nullify their favored nation status.

But even more, some analysts are forecasting that a Brexit could trigger the next 'Lehman event', and put much of the global financial system at risk.

Q: What would happen if Britain voted to leave the EU? 
A: It is not Lehman in the short term in terms of markets being in a panic or chaotic mood, because the central banks will try to pacify that. But it is more significant than Lehman in its longer-term impact on global growth. Through trade and investment channels, there will be a downward impact on growth. 
Q: Isn't it just a European issue? 
A: It's not just a vote for the U.K. exiting Europe, it is a symptom of the discontent and unhappiness of citizens with the status quo. They want change, but nobody can articulate what is it that they want. The impact in an exit vote of "leave" winning would be very far-reaching and impact long-term events. Near term there would be significant adjustment in financial markets. - Bloomberg
Because of these fears, a London gold dealer is predicting that a yes vote for a Brexit would cause a panic into the precious metal, and they could see upwards of £10 million pounds of online purchases in a single day.
A  gold dealer has predicted that a decision to leave the European Union would prompt an online gold rush, generating sales of around £10m in a single day for his company, as investors seek to protect their wealth. 
BullionByPost, Britain's biggest online gold dealer, is forecasting its biggest ever trading day if voters decide on a Brexit. "We have a number of large clients waiting to place orders," claimed founder Rob Halliday-Stein. "Everyone is waiting for the referendum outcome. - Telegraph.co.uk

Sunday, June 12, 2016

If Brexit occurs gold will become 'the strongest currency in the world'

The latest poll out for a UK exit from the European Union has the Brexit advocates holding a 19 point lead over those who would see Britain remain in the coalition.  And for those who have been watching both the media and world political and financial leaders trying to use propaganda to dissuade voters from choosing an exit, one thing appears absolutely certain...

A Brexit vote would cause immeasurable change to the global financial system.

In fact, one financier, that being the Chief Investment Officer for River Capital, stated that a British exit from the EU would make gold 'the strongest currency in the world.'

“Gambling websites say Brexit’s a 3-1 bet against,” said the CIO. 
“And if you polled every one of us who wager for a living, I reckon 90% would say the Brits Bremain.” I mooed in agreement, nose nestled in tail, huddled in the herd. 
He mooed back. “But the polls are 50/50, margin-of-error kind of stuff, and they were pretty good in the Scottish referendum, the London mayoral vote too.” 
Brexit would be as shocking for markets as it is unlikely. Which is why no one can ignore it. “All I know is that if it happens, gold will be the strongest currency in the world.” - Zerohedge
Whether gold will instantaneously become the global go to currency remains uncertain in the case of a British exit, however investors have been dumping both the dollar and British Pound since the polls reached a 50/50 coin toss late last month, and as the chart above shows, gold has been rising in relation to this turn... which signals that if a Brexit takes place, the rush into gold will be historic.

Friday, June 10, 2016

Fears of a UK exit from European Union spurring run on gold for Brits

With the vote to determine whether the UK will remain a member of the European Union just a few weeks away, many Brits are preparing for the worst and buying physical gold at a rapid pace.

In fact, as the polls moved closer to a sure bet that the people would vote to leave the Union, sales of gold at most dealers in Britain shot up, as the fears of both a currency and economic crisis spurred the transition from owning Pounds to owning Bullion.



At Sharps Pixley, a gold showroom in London's smart Mayfair district, demand for bullion bars and coins is rising, with men and women of all ages buying up the safe-haven metal in case of a British exit from the European Union. 
Shoppers can walk out of the sleek St James's Street showroom carrying their gold investments, or leave them in the rows of safety deposit boxes that line the walls. 
Sales have picked up since the latest polls suggested that the 'leave' campaign is gaining support, with online polls by ICM and YouGov showing at the weekend it had taken a 4-5 percentage point lead ahead of the June 23 referendum. 
"It seems to have sunk into people's consciousness that Brexit is a real possibility now. All stocks are being bought out in advance of even being shipped," Ross Norman, chief executive of Sharps Pixley said, noting that demand for Britannia coins, which as legal currency are exempt from capital gains tax, had been particularly strong. 
ATS Bullion, nearby on London's Strand, has also reported a 5-10 percent rise in sales while online gold dealing platform BullionVault.com, whose customers are largely private investors, said the UK is outstripping other regions in terms of demand growth this month. 
Growth in its UK customer base has been 59 percent higher in June than the average of the last 12 months, it said, compared to 5 percent higher in the other nine of its top 10 markets. - Reuters

Tuesday, June 24, 2014

China forms new trade agreement with Britain outside the dollar

It seems almost to be a daily occurrence now that both Russia and China are finalizing new trade agreements with nations that will facilitate the use of their own currencies in trade settlements, and bypass the dollar system that has stood for more than 40 years.  But on June 19, this trend ratcheted up to a whole new level when China signed a deal with America’s biggest ally Britain that will allow direct trade between the two nations using only the Pound and Renminbi.


Read more on this article here...