Samson: The dollar is about to collapse
17:17 – 07/23/2020
The economist Peter Schiff expected that gold will resume its role in the global monetary system, that is, the countries of the world will return to the gold standard, and this is not strange in light of the economic crisis the world is witnessing.
Economist Peter Schiff expects the price of precious metals to rise in the near future, and said that “as the world deals with the crisis of Corona, gold and silver prices are rising, there are major movements in gold and silver coming.”
Veteran speculator believes that the price of an ounce of silver can reach $ 50, but this rise will be for a short time, describing silver as “the new bitcoin.”
He added, that gold is a strong competitor to the dollar when it comes to reserves, warning that “the American currency is about to collapse, and when that happens, the dollar will replace gold again.”
The economist advised everyone to stay away from the dollar before it was too late, and said that “the yellow metal will resume its role in the global monetary system, as the world will return to the gold standard whether the (US) Federal Reserve wants that or not.” LINK
RealtorMC: I love Peter Schiff! He was right about the real estate crash in 2008. People have been saying the dollar is going to collapse for a looong time though. The USD is still the international currency of the world thanks to Bretton Woods. IMO the dollar will collapse ONLY if it loses its status as the main currency in the world and there is a new international standard currency.
Samson: China launches the “Star Market” index today
23rd July, 2020 VIDEO ON THE LINK
The Chinese “Star Market” launched its index today, to show gains that were twice that of its American counterpart, “NASDAQ” since the beginning of the year.
China launched the “Star Market” for technology companies a year ago, and now includes 140 companies with a market value of $ 400 billion.
The new index, which includes the 50 largest companies listed on the stock exchange, achieved gains of 50% since the beginning of the year, compared to a rise of 24% for the Nasdaq during the same period.
The new “Star” exchange has been described as China’s response to the NASDAQ, as Beijing hopes that this market will encourage investment in domestic technology innovations and ensure that these companies have the resources to develop them.
As China begins listing operations on a new platform on the Shanghai Stock Exchange, this will be one of the most important reforms of the Chinese market at a time when the Asian giant is seeking to adjust its economic pattern towards new technologies and high-value-added products, and at the height of a trade war with the United States.
The Chinese Nasdaq has set flexible conditions to help promising companies raise capital more easily to fund their growth. The stated aim is also for national technology companies to remain within China, at a time when Beijing is competing with Washington to dominate the crucial technology sector. “If China had not launched its new platform for the technology stock exchange, it would have missed the opportunity to direct its economic development towards the new economy,” said Yang Delong, chief economist at First Seafront Foundation Management in Shenzhen.
Major Chinese companies such as Ali Baba (e-commerce) and search engine Baidu entered several years ago on Wall Street. The giant Internet company has chosen the Hong Kong Stock Exchange. When major Chinese companies are listed abroad, Beijing has less influence over its operations to attract capital. On the other hand, Beijing’s restrictions on purchasing foreign shares prevent Chinese investors from contributing to the success of these companies.
There are more than 3,000 companies currently listed on the Nasdaq on Wall Street, while its Chinese counterpart has only 25 companies with no big names. Contrary to the current legislation in force, the Star Market platform allows companies that have not yet earned profits to be listed on the stock exchange. In the first five days of listing, no daily fluctuations are imposed (now 10 percent on the Shanghai and Shenzhen stock exchanges). After these days, the threshold becomes 20 percent.
A project to create a stock exchange platform in Shanghai for technology stocks was disclosed in November 2018 by President Xi Jiping. So far, the Shenzhen Stock Exchange, the second Chinese exchange after Shanghai, is characterized by the technological trend of listing operations. LINK