NewsMax reported:
Gold Near Record High as US Inflation Data Looms
August 30, 2024
Gold steadied near its all-time high on Friday and was set for a monthly gain, driven by U.S. rate-cut bets and geopolitical uncertainty, while focus shifted to a key inflation report.
Spot gold was steady at $2,520.36 per ounce, as of 1132 GMT, just shy of the record high of $2,531.60 hit on Aug. 20. The bullion has gained about 3% for the month. https://www.newsmax.com/newsfront/gold-record-united-states/2024/08/30/id/1178494/
Actually, the price hit $2526 today. It does not seem that the Harris-Walz interview yesterday nor comments yesterday from Donald Trump helped the US dollar value.
Notice also:
US Dollar Plummets As Global Market Shifts, Yuan & Gold Soars
August 30, 2024
The global markets are currently experiencing a tumultuous change. Rising geopolitical changes are giving birth to new economic changes. At the same time, the US dollar devaluation has peaked at its prime, …
“The sanction situation created a huge stimulus for China to develop its [financial] system and to develop solutions to link China’s system with the Russian one,” said Alexandra Prokopenko, a research fellow at the Carnegie Institute in Berlin.
At the same time, Gold is also gearing up for a massive rally. As per Rashad Hajiyev, a notable finance analyst, gold is attempting to break out, which may help the precious metal claim the coveted $3,000 mark. …
Global alliances like ASEAN and BRICS are in the process of ditching USD due to the currency being used as a source of weaponization. https://watcher.guru/news/us-dollar-plummets-as-global-market-shifts-yuan-gold-soars
Yes, US sanctions, which have been put in place by the Trump-Pence Administration and the Biden-Harris Administration have been pushing many nations away from the US dollar and more towards other currencies and gold.
Notice also the following from last month:
The BRICS Will Use a Gold Standard
July 9, 2024
Given the following realities; the BRICS and those that wish to trade with them must go on a gold standard in part or in whole. Why?
It’s all about supply chains and payment chains. The US must rebuild supply chains to remain self-sufficient in certain commodities or it must trade with the BRICS on the BRICS terms. And that means with Gold in hand
The BRICS, in turn, must build payment chains (and value-added portions of supply chains) to replace the SWIFT system. Either that or they must then remain dependent on the US. And that means with the USD in hand
The alternative to ignoring these choices between economic self-sufficiency and a Gold standard for continued international trade is: isolation, misallocation and misuse of resources, and finally escalation of war. …
The BRICS are in the process of creating a settlement medium (currency, medium of exchange) for international trade comprised of Gold and other assets deemed separable from Dollar influence. …
It is believed the West’s G7 Central Banks will need to have BRICS currency exposure in their reserve to better hedge their own economic risks. Failing literally to have that BRICS currency, the G7 CBs and sovereign wealth funds will simply continue to accumulate the assets (Gold, Silver etc) deemed important (or hard to get on demand like Gold and Silver) within the Store of Value basket the BRICS created. in other words, they will simply reverse engineer the basket and buy the parts needed.
The G7 CBs can then trade by creating their own mirror basket of Eastern Currencies, bonds, and Gold in what will likely be an IMF/SDR type of basket for risk purposes if ever needed. …
For over a decade, discussions have simmered about moving away from the U.S. dollar. …
BRICS is advancing a three-step plan to establish a new international currency. This includes:
adopting a gold standard, 7creating a unified payment system with advanced technologies,and promoting central bank digital currencies (CBDCs).
This initiative aims to reshape the global economy, challenging the dominance of the U.S. dollar established since the Bretton Woods Conference.
The BRICS nations have been increasing their gold reserves, now totaling 6.3 thousand tons. As the world’s largest gold buyers since 2022, their actions signal a clear intention to develop a new global currency. …
The End of Dollar Dependency
To achieve financial independence from Western systems, BRICS is developing its own payment systems and strengthening digital currencies. https://www.zerohedge.com/news/2024-07-09/brics-will-use-gold-standard
Yes, gold has hit record highs even after the US Federal Reserve increased interest rates.
Yes, the BRICS nations have been buying a lot of gold. They do want to bypass the US dollar via gold, crypto, and/or their own national currencies (see also BRICS+ looking to bypass the US dollar–crypto could be part of the plan ).
Yes, the the USA is facing a spiraling debt problem as it continues to increase debt and will have to pay more and more interest. Eventually, all will see that the USA is past the point of no return.
This will cause major problems.
Now, let me point out that the USA reportedly has more gold than the BRICS nations do combined–as do the combined nations in Europe. However, the USA gold reserves will only cover a small fraction of its debts, even at current gold prices.
The USA simply does not have enough gold to cover its debts and will not fare well if the world switches to at least an implied gold standard to back currencies or even electronic ones like CBDCs.
As far as the USA getting past point of no return, Michael Snyder posted the following last month:
July 9, 2024
Our politicians in Washington have artificially propped up our economy for years by piling up 34 trillion dollars in debt, and the “experts” at the Federal Reserve have artificially propped up the financial markets for years by pumping trillions upon trillions of dollars that they created out of thin air into the system. But now we are so far out on a limb that there is no way back, and there is no safety net below. …
Millions of Americans are currently experiencing their own individual “economic collapses”, …
In a desperate attempt to make ends meet, many Americans have been going very deep into debt.
That worked for a while, but now delinquency rates are spiking.
In fact, the percentage of credit card balances that are considered to be in serious delinquency has risen to the highest level in more than a decade…
The flow of credit card debt moving into delinquency hit 8.9% in the first quarter at an annualized rate, above pre-pandemic levels. In fact, the percentage of credit card balances in serious delinquency – payments are at least 90 days late – climbed to its highest level since 2012.
This is an especially dangerous time to be piling up credit card debt, because credit card interest rates have moved into uncharted territory…
For years, the U.S. economy has been creeping farther and farther into the danger zone.
The limb that we are standing on is really starting to make some very alarming noises, but our leaders don’t seem to care.
Sadly, it is only a matter of time before disaster strikes. https://theeconomiccollapseblog.com/just-like-this-guy-our-country-can-only-go-out-on-a-limb-so-far-before-it-finally-snaps/
Yes, disaster is coming.
The USA is the most indebted nation in the history of humanity. Rising interest rates increase the debt and look to one day result in a debt spiral that will be a factor in the elimination of the USA!
This increasing of debt cannot go on forever.
Even when he was President of the United States, Barack Obama said the levels of debt his Administration oversaw was “unsustainable,” yet the debt keeps going up.
Notice the following levels of official US debt:
January 20, 2009, $10,626,877,048,913.08, date Obama-Biden Administration inaugurated.
January 19, 2017, $19,944,429,217,106.77, date Obama-Biden leave office, replaced the next day by Trump-Pence.
January 19, 2021, $27,752,835,868,445.35, the date Trump-Pence leave office, replaced the next day by Biden-Harris.
January 19, 2024, $34,072,342,032,939.15, after 3 years of the Biden-Harris Administration.
And it has gone up hundreds of billions more since. As of Wednesday, the official US debt was $35,269,696,270,863.86 (see also https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny).
Official US debt nearly doubled under the Obama-Biden Administration. It also greatly increased by about the same amount in only four years under the Trump-Pence Administration. Debt went up over $7 trillion in less than four years of the Biden-Harris Administration and is expected to increase greatly.
My book, Biden-Harris: Prophecies and Destruction, has the following:
Furthermore, the Bible warns against the type of moral decline that is occurring in the U.S.A.:
12 Therefore thus says the Holy One of Israel: “Because you despise this word, And trust in oppression and perversity, And rely on them, 13 Therefore this iniquity shall be to you Like a breach ready to fall, A bulge in a high wall, Whose breaking comes suddenly, in an instant. (Isaiah 30:12-13)
But how can this happen to the U.S.A.? It will likely happen with a combination of events. Notice:
5 “Moreover the multitude of your foes Shall be like fine dust, And the multitude of the terrible ones Like chaff that passes away; Yes, it shall be in an instant, suddenly. 6 You will be punished by the Lord of hosts with thunder and earthquake and great noise, With storm and tempest and the flame of devouring fire. (Isaiah 29:5-6)
The debt situation of the U.S.A. is putting it at risk of being unable to recover should it be hit by weather problems, terrorist acts, war, riots, solar flares, severe earthquakes, civil unrest, devastation of their genetically-modified food supplies, food shortages, and/or various pestilences–an intensity of “sorrows” such as Jesus discussed in Matthew 24:4-8 leading up to the time of the Great Tribulation. Political issues, climate change, trade policies, communication’s deals, and other events are pushing the U.S.A. to a position that will encourage its takeover someday. Disasters, especially if there is an ElectroMagnetic Pulse (EMP) attack, a severe solar flare storm, devastating hurricane (s) something like a massive volcanic eruption and/or massive earthquake could be part of a so-called “perfect storm” of events that could set up the U.S.A. for destruction. …
Daniel 11 … 43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt; also the Libyans and Ethiopians shall follow at his heels.
The “he” is the King of the North. This is the same King of the North that valued gold and silver in Daniel 11:38. Although other scriptures also show that gold and silver will have value around this time (like Revelation 18; 9:20), the Bible is clear that gold and silver will be worthless for a short time before Jesus returns, e.g. Ezekiel 7:19.
The fact that the King of the North himself will accumulate gold (and some silver) is consistent with several Byzantine (“Greek” Orthodox) prophecies of their expected Great Monarch:
Emperor Leo the Philosopher (died 912): You will amass gold … And you will be the leader of the surrounding nations …
Addressed to Emperor Manuel II, Palaeogous (died 1425): The Emperor … will discover gold and silver…
Saint Andrew Fool-for-Christ (c. 4th century): God will reveal to this king all the gold wherever it happen to lay concealed from view …[i]
One side note is that, in Egypt, major gold deposits were found in 2006.[ii] This is relevant as it does suggest that Egypt now has enough gold that a foreign power could be interested in taking/using it as Bible prophecy teaches.
Since many are now questioning the role of the U.S. dollar as the world’s reserve currency, more are looking into other currencies as well as gold. Gold will set records in U.S. dollar terms. In 2017, I also published that in my book related to Donald Trump, and it did hit records in July and August in 2020. [iii]
It has been proposed that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance.”[iv]
When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer.
The collapse of the U.S.A. dollar will shake a lot of the world’s confidence in non-gold backed currencies.
The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the U.S.A. dollar.
Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.
The debt accumulation policies of the Obama-Biden and the Trump-Pence Administrations, which were a massive acceleration of the previous policies of the Bush Administration, look like they will be continued by a Biden-Harris Administration.
The increases in America’s debt are heading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.
A Biden-Harris Administration would need to make massive changes to possibly prevent this.
The U.S.A. and its dollar are at serious risk.
[i] Tzima Otto. The Great Monarch and WWIII in Orthodox, Roman Catholic and Scriptural Prophecies. Verenikia Press, Rock Hill (SC), 2000, pp. 76, 102, 114
[ii] A Gold Mine Worth LE 23 Billion (and counting). Egypt Today, August, 2006
[iii] Gold hits new record, posts best month since 2016 CNBC, July 30, 2020; Woodall T. Gold surges to new highs as US dollar weakens despite growing macro risks. S&P Global, August 10, 2020
[iv] Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016
Related to gold, the Letter to the Brethren: August 29, 2024 of the Continuing Church of God had the following:
PREDICTION: Gold will set records in U.S. dollar terms.
MULTIPLE FULFILLMENTS:
Posted March 6, 2024: ZH: ‘We Have Liftoff!’ – Spot Gold Takes Out Record High
Posted April 8, 2024: Gold hit record high–‘What’s behind China’s gold-buying spree?’
Posted August 18, 2024: ‘Gold All Time Highs: Is $3000 Next?’
Posted August 21, 2024: Gold lifts off to another record as the US dollar is worth less; What about silver?
That prediction was from pages 171-172 in my book: Biden-Harris: Prophecies and Destruction.
In my book, Donald Trump and America’s Apocalypse, I wrote:
Gold will set records in US dollar terms. (p. 170)
It did in 2020–gold futures passed $2000 for the first time ever in July 2020 (Gold hits new record, posts best month since 2016. CNBC, July 30, 2020). Notice also:
“The price of gold shot up to an all-time high of US$2,067.15 per ounce on Aug. 6” (Woodall T. Gold surges to new highs as US dollar weakens despite growing macro risks. S&P Global, August 10, 2020).
Yes, records in the price of gold compared to the USA dollar were hit.
The rising USA debt cannot continue indefinitely–there is a major price to pay.
When gold goes up in US dollar terms, that basically means that the US dollar is going down.
Related Items:
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold? Two videos of related interest are Beast Prophecies and European Gold and Germany, Gold, and the US Dollar.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
Might the U.S.A. Be Gone in 2028? Could the USA be gone by the end of 2028 or earlier? There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
When Will the Great Tribulation Begin? 2024, 2025, or 2026? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Tribulation in 2024? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin? A related sermon is also available: The Bible, the USA, and the King of the West.
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU? and Predestination and Your Selection. A short animation is also available: Is God Calling You?
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? Do you really know what will happen to Europe and the English-speaking peoples? What about the peoples of Africa, Asia, South America, and the islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
Biden-Harris: Prophecies and Destruction Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details. A Kindle version is also available and you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon s Free Reader Apps. After you go to your free Kindle reader app (or if you already have one or a Kindle), you can go to: Biden-Harris: Prophecies and Destruction (Kindle) to get the book in seconds.
LATEST NEWS REPORTS
