Socio-Economics History Blog

Socio-Economics & History Commentary

China’s 20,000 Golden Rules

  • China’s 20,000 Golden Rules
    by http://www.silverdoctors.com/
    China Has Been Hoarding Gold Like A Dragon. What Exactly Do They Have Planned??

    From Rory Hall, The Daily Coin:
    “Since 2007 China has mined and purchased more gold than any other country on earth”

    We have been documenting China’s insatiable appetite for gold for the past several years. When you realize how much gold China has acquired it puts gold in a completely different light. Gold is money and nothing else. It is used to create jewelry, however, this is nothing more than a centuries old tradition as a means to display and transport of wealth. If your wealth is wearable you can easily move around the region while freeing up space in the trunk or baggage for other items.

    I have long argued that if you’re “hoarding gold like a dragon“, as China has been doing since 2007, you are doing so for the purpose of being able to control the currency markets around the world. The golden rule still applies “the one with the gold makes the rules”. Always has, always will.

    China is now acquiring gold still in the ground as the above ground supplies are now strained and the open market may not have the capacity to satisfy China’s actual demand they have set in their ongoing “plan”. In 2016 China acquired $27 BILLION in gold mines alone. This gold is no longer part of the global supply as every ounce mined will go to China and never be traded on the open market. This seems to be a big part of China’s future plans as their gold acquisitions in 2016 were TRIPLE those in 2015. That’s a significant increase.

    Why is China amassing all this gold?
    Why is China now amassing some of the largest gold mines in the world? Could it be that China is planning for the future and gold will be part of the global or regional (along the New Silk Road – OBOR) trade? High ranking officials from the Shanghai Gold Exchange have already met with the Director of International Financial Center from Kazakhstan for the specific purpose of introducing gold along the New Silk Road. Will the renminbi/yuan be backed with some gold?


    I have long argued that China will reintroduce gold to the currency market and back the renminbi/yuan with gold.
    When China will make this move is the only remaining question. It is very clear China has their sights, in an official capacity, set on acquiring as much as gold as possible for the purpose of being the global economic power and one of the ways to dominate every market on the planet is to offer a gold backed currency.


    Another question would be – how will China’s acquisitions of these major gold mining companies impact the global gold market and the LBMA and COMEX’s ability to be the pricing mechanism for the global gold trade? If China is removing ton upon ton of gold from the open market, at what point will the open market be China? My guess is the LBMA and COMEX have very limited time remaining.

    read more.
Get the message: Gold backed Chinese Yuan / RMB.

Get the message: Gold backed Chinese Yuan / RMB.

https://sputniknews.com/politics/20160915/1045341538/gold-yuan-china-dollar-eurasia.html

Click on image for article.

end

February 4, 2017 - Posted by | Economics | , , , , , , ,

Sorry, the comment form is closed at this time.

%d bloggers like this: