At Roger Hamilton’s upcoming ‘Fast Forward your Business’ Tour to Japan, England and South Africa, he will be covering the Top 10 Trends impacting our business in the next 12 months.
We asked Roger about recent events in world markets, and how that will impact his talk. Roger Hamilton always has fresh insights when looking at any situation, and it was no different here. He spoke of this week’s decision by Venezuela to repatriate all gold reserves from around the world and shift all their currency reserves from the US and Europe to Russia, China and Brazil.
“Chavez has decided to recall the country’s 211 tons of gold reserves in European and US banks, including the Bank of England and JP Morgan Chase, back to Venezuela. He is also moving all cash reserves out of Europe and the US to Brazil, Russia and China. This is the first sign in governments shifting the base of the financial system, which will lead to far bigger global instability than we have see so far.”
Roger Hamilton continues: “Banks leverage their holdings many times over. So for example, JP Morgan has securities backed against their gold reserves which are 100 times greater than their reserves. The gold that Venezuela will request back from JP Morgan is equivalent to their entire current holdings. It only takes a few more countries to repeat Venezuela’s move for the entire centre of financial strength to leave US and Europe and move to the developing countries.”
You can find out more on Roger James Hamilton’s views on the big shifts in our economies and how to benefit from them on his upcoming ‘Fast Forward your Business’ Tour.
We asked Roger about recent events in world markets, and how that will impact his talk. Roger Hamilton always has fresh insights when looking at any situation, and it was no different here. He spoke of this week’s decision by Venezuela to repatriate all gold reserves from around the world and shift all their currency reserves from the US and Europe to Russia, China and Brazil.
“Chavez has decided to recall the country’s 211 tons of gold reserves in European and US banks, including the Bank of England and JP Morgan Chase, back to Venezuela. He is also moving all cash reserves out of Europe and the US to Brazil, Russia and China. This is the first sign in governments shifting the base of the financial system, which will lead to far bigger global instability than we have see so far.”
Roger Hamilton continues: “Banks leverage their holdings many times over. So for example, JP Morgan has securities backed against their gold reserves which are 100 times greater than their reserves. The gold that Venezuela will request back from JP Morgan is equivalent to their entire current holdings. It only takes a few more countries to repeat Venezuela’s move for the entire centre of financial strength to leave US and Europe and move to the developing countries.”
You can find out more on Roger James Hamilton’s views on the big shifts in our economies and how to benefit from them on his upcoming ‘Fast Forward your Business’ Tour.
Posts
0 comments:
Post a Comment