Based Underground is now a conservative news aggregator AND curated newsletter.
Editor’s Commentary: There are two very different stances we should take when it comes to the globalist elites and their proxies, including the central banks. Whatever they tell us to do, we should do the opposite. On the other hand, whatever we see them doing, we should investigate and consider doing the same. They will tell us to eat bugs while they eat steaks, for example. I will not eat bugs. I will definitely eat steaks as long as they’re not overcooked or smothered in sauce.
It’s no secret to my long-time readers that for a little over a year, I have been very bullish about physical precious metals. Those who have money tied up in investments, whether via wealth or retirement, should take a long look at moving some or even all of it to precious metals. I’m not saying that as a “financial advisor” because I am not one. I am, however, someone who keeps my finger on the pulse of what the globalist elite cabal has in store for us and everything is pointing to economic control that will make it advantageous for us to have precious metals.
It’s also no secret that I’m not a fan of the vast majority of precious metals companies out there. This is one of the reasons I avoided taking on a precious metals sponsors for years. It wasn’t until last year when I realized a downturn or even collapse was likely that I started vetting out various companies. What I found was shocking. Nearly all of them are owned or operated by people who either contribute to Democrats, have ties with proxies of the Chinese Communist Party, or both. I have only found two companies that do not and I have both listed on my sponsor page.
The article below by JD Heyes from Natural News does not have anything to do with my sponsors. In fact, there are others mentioned in the article. Americans are free to choose whoever they want and I do not play “dirty” by talking poorly against other precious metals firms. I just know what I know and the ones I recommend are operated by America First patriots. Here’s the story by JD Heyes…
Central banks continue adding gold to their net holdings as fears rise of a global currency collapse
Central banks around the world continue to signal a coming currency collapse as they add more gold to their existing holdings.
According to a report at SchiffGold, central banks added to their gold holdings for a fifth straight month as war, supply chain crises, and a looming energy shortage in Europe all weigh heavily on global currencies and the global economy.
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“On net, central banks added 20 more tons of gold to their reserves. Three banks drove buying in August and there were no notable sellers,” the analysis said.
The report went on to note that central banks have added a staggering amount of gold this year alone, as international uncertainty about how or if economies would recover from long-term COVID shutdowns lingered.
“So far this year, central banks have added over 300 tons of gold to their holdings,” the report said, going on to identify the largest purchaser.
“Turkey was the biggest buyer in August and has added more gold than any other country in 2022 to date. With its 8.9-ton purchase in August, Turkey has increased its gold reserves by 84 tons year-to-date. Turkey now holds 478 tons of gold between its central bank and treasury holdings, the highest level since Q2 2020,” the report added.
“Uzbekistan added 8.7 tons to its reserves in August, roughly the same amount as the previous five months. This brings its y-t-d net purchases to over 19 tons despite having begun the year by selling almost 25 tons in the first quarter. Gold reserves account for just over 60% of Uzbek’s total reserves,” the analysis continued, going on to list other central banks that have recently increased their gold reserves by a large amount.
“After being the only notable seller in July, Kazakhstan bought 2 tons of gold in August. Total Kazakh gold reserves stand now just shy of 375 tons, down almost 28 tons since the start of the year. It is not uncommon for banks that buy from domestic production – such as Uzbekistan and Kazakhstan – to switch between buying and selling,” said the report, adding: “Mexico and Serbia both made small 0.1-ton purchases in August.”
As for the United States, all of the major banks see financial pain ahead — a lot of it, in fact.
“Investment bank research has turned markedly sour over the past few weeks. ‘More pain ahead’ is the general theme, laced with some very specific warnings about a coming financial crisis. This is not limited to a few banks – everyone is saying something like this: Bank of America, Barclays, Credit Suisse, Citi Bank, Deutsche Bank, Goldman Sachs, JP Morgan, Societe Generale, and others,” noted Mike Shelby, CEO of private intelligence firm Forward Observer, in a note to subscribers late last week.
“Morgan Stanley Global Asset analysts report that institutional and retail investors now own 23% of U.S. credit assets, which is up from just 10% in 2005. They note a large share of credit ownership has shifted from banks to investors due to higher yields, and cite an increased risk due to deteriorating credit conditions,” he added.
Other major U.S. banks have issued similar dire warnings.
Bank of America, for instance, is warning of a potential liquidity crisis in once-safe U.S. Treasuries.
“In our view, declining liquidity and resiliency of the Treasury market arguably poses one of the greatest threats to global financial stability today, potentially worse than the housing bubble of 2004-2007,” the bank’s analysts wrote last week.
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Of particular concern is the $30 trillion Treasury seizing up because there are too few buyers, the analysis said.
Federal Reserve bankers in the U.S. are also bearish on the economy, including the chiefs of the Atlanta, Chicago, Minneapolis, and Boston Feds. And worse, to fix the issues, there is talk among the globalist elite to tank the U.S. dollar, thereby harming Americans.
“Several banks are talking about the potential for another Plaza Accords. That was a 1985 agreement among the finance ministers of major economies to depreciate the dollar against the Deutsche Mark, Franc, Pound, and Yen due to the dollar’s strength,” Forward Observer’s analysis said.
Why do Americans always have to suffer needlessly?
Sources include:
Angel Reese Slammed After Bragging About COVID Vaccinations – ‘Waiting for the Next One to Come Out’
by Western Journal
When young people say dumb things, those who know better tend to err on the side of grace. After all, let them make their mistakes. On the other hand, when those young people emerge as athletic stars and then build a platform from which to spew nonsense in a way…
Sylvester Stallone Survived an Abortion: “I Was Brought Into the World by Accident”
by Life Site News
Sylvester Stallone, known for his roles in Creed and Rocky, opened up about surviving an abortion attempt. His daughters, Sophia and Sistine Stallone, host the Unwaxed Podcast. They interviewed their father about his new Netflix documentary, “Sly.” During the episode, they discussed Stallone’s childhood, something that is addressed in the…
‘What the F***’: Joe Rogan Destroys NYT Headline Warning About Dangers of Constitution
by Daily Wire
Podcaster Joe Rogan absolutely destroyed a recent New York Times headline that warned about the dangers of the U.S. Constitution, suggesting that there’s no amount of “gaslighting” the news organization could do to make him see their side. During “The Joe Rogan Experience” podcast, Rogan and his guest evolutionary biologist,…
What Do They Know? Russia Increases Daily Gold Purchases by 700%
by Sponsored Post
In a significant move, Russia’s Finance Ministry has announced plans to allocate 8.2 billion rubles ($92 million) each day for gold and foreign currency purchases until October 4, the nation’s Finance Minister announced. “The amount of funds allocated for purchases of foreign currency and gold totals 172.9 billion rubles,” the…
CNN Data Guru Says Trump Will Win if He “Outperforms His Current Polls by Just a Single Point”
by Jason Cohen, Daily Caller News Foundation
(DCNF)—CNN senior data reporter Harry Enten said on Friday that former President Donald Trump will win the November election if he can slightly surpass his current poll projections. Vice President Kamala Harris is leading Trump by just 0.2% in the top seven battleground states, according to the RealClearPolling average. Enten,…
New Jobs Report Shows Millions of Americans Lost Jobs to ‘Foreign-Born’ Workers, F/T Work Yields to P/T
by Red State
Trying to nail down Joe Biden or Kamala Harris on the number of jobs they’ve “created” — the government does not create jobs; it can create economic conditions that can lead to job creation or job losses — during the last disastrous three-and-a-half years is like trying to nail Jell-O…
Putin Avoids ‘Kursk Trap’ as His Troops Poised to Take Pokrovsk
by SHTF Plan
President Putin has continued to downplay Ukraine’s major Kursk invasion, which has resulted in Russian territory occupied by Kiev forces, and has instead maintained that capturing and holding all the Donbas in eastern Ukraine remains the goal. “We have to deal with these thugs who made it into Russia,” he…
Leaked Army Advisory Warns of Migrant Gang Violence in Major Cities
by The National Pulse
A threat advisory issued by the U.S. Army to Department of Defense (DOD) personnel across the country warns the Venezuelan gang Tren de Aragua (TdA) has established a significant foothold in multiple American cities and poses a serious danger to local, state, and federal law enforcement. The document—designated as Controlled…
Are You Ready for the Big Steal … Again?
by Richard Blakley, WND
(WND)—The 2020 election was a mess. Only the gullible and self-deceived believe Joe Biden legally obtained more votes than any presidential candidate in U.S. history. If this were true, Democrats would have beaten their drums concerning this “historic” vote, like the pig in the old Valleydale Sausage commercials, but even…
YouTube Uses DOJ Allegations to Justify Axing Tenet Media’s Channel Without Due Process
by The Federalist
The widely used video platform YouTube removed Tenet Media and related channels from its services on Thursday after the Justice Department accused the company of partaking in a secret Russian influence operation. The revelation comes days after the Biden Department of Justice (DOJ) announced the seizure of nearly three dozen…
Has Anyone Noticed That We Know More About Yesterday’s School Shooter Than Crooks?
by Hot Air
The mainstream media has already done a deep dive into the bizarre details of the perpetrator of yesterday’s school shooting, and we have gotten more media availabilities from law enforcement on the events than we have yet gotten from July 13th’s attack on Donald Trump and the three other victims…
Strong Dad Engagement Programs Are Funding the Fight for Fatherhood to Save the Fatherless
by Caldron Pool
“The men the world is raising are not the men the world needs.” No man is born an expert on fatherhood. Good fathers are taught through blunt advice, wise counsel, observation, experience, and their environment. This is why responsible fatherhood programs are saving lives, and why we should be talking…
Ex-CNN Analyst Says Commiela Harris “Has More Riding On” the Debate Than Trump, She’ll Be “More Nervous”
by Jason Cohen, Daily Caller News Foundation
(DCNF)—Former CNN political analyst Chris Cilizza said Friday he believes that the upcoming presidential debate holds more significance for Vice President Kamala Harris than it does for former President Donald Trump. Trump and Harris are slated to compete in their only scheduled presidential debate on ABC News on Tuesday. Cillizza…
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Gold isn’t going to help. The Chinese Yuan is crashing because of 400 billion dollars spent on housing that wasn’t built. The Euro is crashing because of 400 billion spent on Dubai that did get built. Apparently, Sharia Law isn’t a big seller; do you think?