Post From OOM&F By Bulldog75
BULLDOG75: CHINA HOARDS GOLD; GLOBAL RESET
Lets think about this a few minutes. What if China continues hoarding gold ( a currency) and hedges an agreement to buy US Treasury dollars, only if the US will continue to sell China their gold?
Would this make sense/cent$ ?
China continues to be #1 in Gold: buying, mining, holding.
Russia, China, India, Australia are in the first lined up boxcars with China.
All aboard. 100+ nations are following BRICS. Its obvious; difficult to deny.
Gold is king currency.
It appears gold will reset first; the currencies shortly after, within 24 hours.
Here's a good read below. Take a look to absorb, filter and decide.
Happiness and Peace of Mind, BULLDOG75 ~
The US is Allowing China to Take All Our Gold
Chris Powell – the co-founder of GATA – has been in the trenches exposing the corruption deeply embedded in our financial and political system.
He believes that China is accumulating gold to hedge against their bad bet with the US government- that is, their large trove of Treasury dollars that have been monetarily debased by money printing (QE).
In fact, he believes that there is actually an agreement between the US and China, that as long as we continue to give them all the gold they want out of our vaults, they will not dump our Treasuries. Doing that would cause our economy to collapse instantly.
“There is already in place, a plan to revalue gold by 7 to 10 times. Gold is currently, approximately $1,200 per ounce; multiply that by 7 and you get $8,400 per ounce. “
In 1974 Kissinger and his Deputy Secretary Thomas Enders discussed how the United States must persuade the European countries to keep moving gold out of the world financial system because whoever has the most gold controls it’s valuation and whoever controls gold's valuation controls the valuation of government currencies.
Gold Market Manipulation
Every major financial news organization in the West has all this documentation (regarding gold market manipulation) It just can not be acknowledged as an issue.
“Any journalist that picked up the gold price suppression issue would be fired.”
I don’t think the power of Central Banks to create infinite money is their greatest advantage right now. I think their greatest advantage right now is either their control of the mainstream financial news media or the timidity of the mainstream financial news media. This story is just the Emperors New Clothes.
There is very likely an arrangement, an understanding, among the world’s major Central Banks that is redistributing the worlds gold, right now, from the debtor nations to the creditor nations, to allow the creditor nations to hedge themselves against an evadable devaluation of the dollar.
He (Jim Richards) has said, over the last year, a number of times. That from his meetings with government officials, Central Bank officials, elected officials, officials of the International Monetary Fund that there is, some, more or less formal arrangement, understanding between the United States and China. Whereby,
China agrees not to dump it’s Treasuries while the United States agrees facilitate the flow of gold into China at a discounted price.
I don’t kid myself that China is working for the benefit of us goldbugs here in the West. I think China is working for power for the Chinese government.
Now, does the Chinese government want a higher gold price or a lower gold price or does the Chinese government just want to control the gold price as much as Western governments want to control it for different reasons?"
Harvey Organ reports that, "The appetite for gold coming from China is depleting not only gold from the LBMA and GLD but also the Comex is bleeding gold."
"China added $37.3 billion of Treasury debt, bringing its stockpile to $1.26 trillion." ~ Associated Press
Foreign governments, primarily through their central banks, account for two-thirds of the foreign holdings. In March, the total held by foreign governments rose 1 percent from the previous month to $4.13 trillion.
In conclusion, Chris Powell on the Daily Coin says, "Jim Richards has been on record, on several occasions, stating that gold would be revalued to approximately $9,000 per ounce.
According to Millars report, there is already in place, a plan to revalue gold by 7 to 10 times. Gold is currently, approximately, $1,200 per ounce, multiply that by 7 and you get $8,400 per ounce. A multiple of 10 and you have $12,000 per ounce."