A “tectonic shift” occurs as the US moves from one interest rate benchmark to another.
Lynette Zang, Chief Market Analyst at ITM Trading, said: She told her Investing News Network that after June 30, 2023, the US will use her SOFR rate instead of her LIBOR rate.
“This level of change has never been attempted before,” she said. “I hope I’m wrong, but I don’t think they can do it. Wall Street doesn’t think they can do it. SOFR) was not easily adopted.”
This transition isn’t the only major change currently on the card. Zang also addressed de-dollarisation, saying there are many signs that the US dollar is losing its status as the world’s dominant reserve currency.
“The reason I think we’re seeing central banks accumulating so much gold is so they stay in power through the shift,” she said, adding, “That’s exactly how I buy gold. That’s why,” he added.
As for physical gold, he prefers collectible pre-1933 coins, but said the most important thing is to have a real money base outside the system. Regardless, if you don’t hold it, you don’t own it.
Beyond wealth-sustaining gold and barterable silver, Zhang recommended focusing on food, water, energy, security, community and shelter. “These are the things we need to make sure are safe and surrounding us,” she said.
For more on Zang’s outlook for 2023, see the interview above. click here Watch the Investing News Network’s complete Vancouver Resource Investment Conference playlist on YouTube.
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Securities Disclosure: I, Charlotte MacLeod, have no direct investments in any of the companies mentioned in this article.
Editorial Disclosure: Investing News Network does not guarantee the accuracy or completeness of information reported in interviews it conducts. The opinions expressed in these interviews do not reflect those of Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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