Aloha All.

For as long as I have been alive, the the US Dollar has been the Reserve Currency of the World, thanks to our country’s successful World War II efforts…Central banks around the world hold US dollars as a safe haven asset…..But today, we see the first signs of that status changing……Up until today, for example if you or anyone wanted to by a barrel of oil on the open market, the buyer had to pay the seller in US dollars to complete the trade…..No other form of currency is accepted……..However, India is now the first buyer of Iranian oil to agree to pay for its purchases in GOLD instead of the US dollar, as reported by Debkafile.com.

Top officials feel China will be the next country to follow suit. India and China take about one million barrels per day, or 40% of Iran’s total exports of 2.5 million barrels per day. Both India and China are two of the world’s largest owners of gold inventory.

If other countries and central banks around the world switch to GOLD as a primary reserve currency, then the US Dollar will be impacted negatively and the US economy will be impacted…..This situation merits monitoring as we move forward and I will let you know about my observations as conditions merit……Aloha, Jon.

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