“We all know that China and Russia and other countries are moving away from the U.S. dollar.”— Todd Graf, Scottsdale Bullion & Coin Precious Metals Advisor
Who isn’t moving away from the U.S. dollar these days? Amid the Fed’s dollar-printing frenzy, who can blame investors for flocking to cryptocurrencies like Bitcoin and Ethereum and precious metals, sending gold prices to record highs and triggering the #SilverSqueeze.
On top of all of these forces working against the dollar, China’s coming out with a new digital Yuan. It’s the country’s latest effort to sidestep the dollar as the global reserve currency. Just last February, the People’s Bank of China met with the central banks of Hong Kong, Thailand, and the United Arab Emirates to discuss a cross-border payment project for digital currency.1
You know what that means for the U.S. dollar? Further dollar devaluation as countries use China’s digital Yuan and dollar demand declines.
Just imagine how that could affect your purchasing power in our already-inflationary environment.
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Watch the video above for precious metals advisors Damian White and Todd Graf’s full analysis of how the digital Yuan could threaten the dollar.
When Your Privacy Comes at a Premium
China’s digital Yuan threatens more than the U.S. dollar: the transition to the centralized digital currency gives the Chinese government even greater control and surveillance capabilities over its people, especially if they opt to monetize the already controversial social credit score.
China’s digital Yuan, then, is a complete affront to privacy, one we can only hope other countries—the U.S. included—don’t emulate.
What can you do? You need some gold to protect against inflation and economic chaos. To protect your privacy before it comes at a premium as more and more investors run to safe- havens gold and silver.
See how to secure your wealth with gold and silver now. Request our updated Precious Metals Investment Guide today.