Online:
Visits:
Stories:

By Youcef
Contributor profile | More stories

Story Views
Now:
Last Hour:
Last 24 Hours:
Total:

Global curency reset: a Gold backed Bitcoin system by the end of 2015!

Monday, October 19, 2015 2:11

% of readers think this story is Fact. Add your two cents.

(Before It's News)

By now a lot of people caught up on the news about the 405 billion in cash that needed to be injected secretly in order to keep the financial system afloat.

Little do people realize that this is the beginning of a bubble or dysfunction in the derivatives sector that is unfolding in front of their eyes.

Emerging markets are the most at risk since they are the onces who took loans in cheap US dollar thinking the FED would never raise interest rates and keep the QE forever.

But the FED is already hinting about raising interest rates by december! This will most certainly ignite massive capital flights from emerging markets that are already in dire need of cash to repay their bills.

And let’s be honest falling oil prices aren’t exactly helpîng either since this means even less revenue! Oil prices have already lost more than 50% of their value since their decline began.

So we have massive debt, less revenue due to falling oil prices, the prospect of an interest rate hike in the near future and deflation raging on in different asset classes.

Those are the perfect conditions for a financial crash, in fact it might be more accurate to say “the inevitable crash”. This crash will affect the derivatives sector mainly in the currency fx markets.

It is my belief that the solution to this currency crises will be the implementation of a global currency backed by gold. The currency will be a bitcoin system i think backed by gold issued by the IMF.

There is also the possibilty of SDR’s backed by gold issued by the same IMF as world currency.

This is evidently not happening by chance, all made by design.