What Will Trump Do about the Central Bank Cartel?
The US is the biggest economy in the world. Its financial markets (equity, bonds or derivatives markets) are the largest and most liquid. The dollar is the most important transaction currency.
Many currencies in the world (the euro, the renminbi, the pound or the Swiss franc) have actually been built upon the US dollar.
The world is effectively on a US-dollar standard, and the US Federal Reserve has risen to the unofficial status of the world’s central bank. The rise of the dollar has, to a large extent, been propelled by international banking, which has basically ‘dollarized’ in terms of its lending and issuing activities.
Polleit discusses how the Fed sets global policy; moving towards a worldwide central bank; and what Trump should do.
In conclusion, Polleit says that if the world would move in the direction of ending legal tender laws and giving the freedom to the American people to use gold and silver as their preferred media of exchange, the rest of the world would most likely have to follow the example.