IAMGOLD Corp T.IMG

GOLD CARTEL ON VERGE TO COLLAPSE - 2022

[Luke555]

Let me be the first to predict that there are some major changes coming in the world monetary markets in 2022.

I base my prediction on the fact that the US is near bankruptcy, swimming in debt and printing fiat money 24 -7 to combat inflation, their reign as the dominant global financial leader is going to collapse in the near future. Inflation may be the catalyst that will downgrade their dominance along with other major global economies that are about to challenge the US dollar dominance.

I was around to watch the beginning of the end when the infamous President of the United States Richard Nixon (Watergate Era) decided to close the gold window (foreigners couldn't redeem dollars for gold at the Treasury anymore). From 1945 until 1971, the U.S. dollar was backed by gold, and served as the world reserve currency under a system called Bretton Woods.

Once the US Feds got control of the monetary system, they weren’t going to relinquish their new found powers to control the world’s financial system. The currency wars were in full force and the gold price fixing mechanisms was in full force. Paper gold was the rule of the day, the poisonous derivatives market appeared along with swaps, options trading, fiat money printing, it was a free for all on the Comes trading platform.

Today, I just read that the US Govt. is promising to continue to buy at least $60 billion worth of securities every month to support the dollar and economy. As Jerome Powell said, “He will do and say anything to keep the economy afloat.”  This policy borders on insanity!

The US Feds along with the Bullion Banks, Central Banks and other protagonist around the world combine their forces and behaved as a cartel to control the monetary system. They had no real opposition on the horizon to challenge or threaten their goals and objectives as world leaders in the financial domain. They had the freedom and control to print money at their leisure without worrying about any wrongful charges from authoritative bodies - THE US DOLLAR WAS SOLIDLY ENTRENCHED AS THE RESERVE CURRENCY.

Small groups emerged to express their dissatisfaction with the manipulation of the fixing of the gold price fixing but their voices had absolutely no clout in the realm of things. These opponents were ineffective in voicing their objections and were considered as mere irritants and lost souls in the forest.  

As I said at the outset, change is coming in the near future. It took the Chinese and Russian Govt. over 40 years to be in a position to challenge the indiscretions heaped on the global financial markets. These major economies suffered along with the rest of the world as the US and its allies enjoyed prosperous times. According to my research, I believe that these countries have been storing gold for the past decade and have accumulated enough gold to challenge the US as the dominant power in the financial markets!! They can now back their currencies the Yen and Rubble with gold.  

At the rate that the US is burning dollars and with the debt rising at alarming levels, I believe The Chinese and Russians are formidable opponents and they now see a golden opportunity to replace an acidulous situation that was initiated in 1971 by the US and return to a gold backed currency that will create a free gold market.

Happy Holidays and warmest wishes for a healthy and prosperous 2022!
 

[Luke555]

Sorry - Currency correction: YUAN =Chinese Yen = Japanese

[Cashcow49]

xyour absolutely correct, I know the Russians and Chinese have been planning for some time . I believe they did challenge the reserve currency awhile back and were shunned of by LME. So hold on fiat money may be buying the company out..

[glory7]

Ya I listened to the report on CBC overnight radio last night, that's where you got your news?

[Luke555]

Glory7, thanks for the question. No, I didn’t listen to the report on CBC overnight radio last night. The views I express are based on information that I come across and my vast experience and knowledge of working in the mining industry at the managerial level.  Basically, I do my own research and analyze what’s been happening in the mining industry over the last 50 years or so and I compile

[glory7]

No worries been around the block,had beers with Steve long before he took control of IMG . Lol

[Luke555]

Glory7, tks for your input...your on the naughtie list... LOL

[gisellekronk]

luke 555 , you comment  ..I believe that these countries have been storing gold for the past decade and have accumulated enough gold to challenge the US as the dominant power in the financial markets!! They can now back their currencies the Yen and Rubble with gold.  ... , china , no doubt holds multiples of the amount that the u.s. claims to hold  , and they do not have to back

[unclebobby]

Government knows it's in big big trouble, just trading paper for paper makes no science will people believe in the dollar in other countries , giving prouduct for useless paper. Nothing to back it but a corrupt system 

[Luke555]

Giselle, your opening up a whole new can of warms with your question about---whether a gold standard restricts the amount of money printing a Govt. can do. In answering, I don’t want to exceed my pay level.  Here’s my response—today the world is being saturated with fiat money. The more you print, the more its value lessens. At some point, countries are going to refuse to accept the fiat

[gisellekronk]

luke 555 , all true , its crazy but there are , $ 13 trillion in neg int rate bonds . for me , it still comes down to when . with all gov. printing  , its a mass insanity that people think any of the fiat pieces of paper have value . the inflation from all the printing , first went into assets ,houses , the stock market , just about everything for the last 10 years , and now it is showing up