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A “tectonic shift” is coming as the US moves from one interest rate benchmark to another, said Lynette Zang of ITM Trading.
As of June 30, 2023, the US will use the SOFR rate instead of the LIBOR rate, which means contracts across the board will be revalued.
“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 — and Wall Street doesn’t think they can do it, which is why they didn’t adopt (SOFR) easily.”
This interview was filmed on January 29, 2023.
#Investing #Gold #Silver
0:00 – Intro
0:28 – Black swan crisis coming in H1?
1:28 – What to know about LIBOR vs. SOFR
6:31 – Will US debt be downgraded?
9:40 – De-dollarization and the currency shift
14:11 – How to avoid gold confiscation
18:00 – “If you don’t hold it, you don’t own it”
20:05 – Outro
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.