==News Bites
Financial World War Three has begun; Global reset, Bretton Woods 3.0 are next==
From the commodities traders at Kitco News Kitco News
Friday June 17, 2022 17:45
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(Kitco News) - The world is already engaged in a financial "World War", and the transition towards a global reset is currently underway, according to Willem Middelkoop, founder of the Commodity Discovery Fund and author of "The Big Reset".
"This is a war, it's a financial, economic war, and according to me, it's World War Three," he said, noting that China has already demonstrated economic hostility by "not investing in U.S. Treasuries anymore, they're adding a lot of gold because it's the anti-dollar."
Speaking to Michelle Makori, Editor-In-Chief and Lead Anchor of Kitco News at the Prospectors & Developers Association Convention of Canada in Toronto, Middelkoop outlined that the global reset would likely result in a revamp of the current monetary system, in which the U.S. dollar is no longer the dominant reserve currency.
"The thesis of the book is that one day we'll need to find a new anchor for the world monetary system, so the dollar needs to be replaced. We know the IMF is working on that, they have the SDR, which is a currency basket. We could have a digital SDR. We have the central bank digital currencies rolled out, you could make a basket of all these central backed digital currencies, have them managed by the IMF, and use them to price commodities, use them to price oil. That could be an easy transition to a new phase for the international monetary system. We could also expect gold to be brought back into the system to stabilize inflation," he said
Middelkoop said that the world has already split into two major economic blocs, the West and the East, which are currently engaged in a global economic war.
This economic battle has the potential to escalate to a hot war between the East and the West, and the trigger may be conflict over Taiwan, he added.
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https://www.kitco.com/news/2022-06-17/Financial-World-War-Three-has-begun-Global-reset-Bretton-Woods-3-0-are-next.html