Could this be the end of the dollar as we know it? This coincides with other stories I�ve read where many countries of the world are more then willing to get out from being under control by our worthless Federal Reserve Notes.
If people can get gold for their sale of goods why would they want a fancy but worthless piece of paper with numbers printed on it? A money that�s only intrinsic value is the paper it is printed on.
There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new �gold backed� global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the �bums rush� by the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.
Here is an excerpt from Jim Willie�s �Hat Trick Letter�
Jims recent article starts out with�
Many are the events, signals, and telltale clues of a real live actual systemic failure in progress. Until the last several months, such banter was dismissed by the soldiers in the financial arena. But lately, they cannot dismiss the onslaught of evidence, a veritable plethora of ugly symptoms of conditions gone terribly wrong and solutions at best gone awry and at worst never intended in the first place.
CHINA RECASTS GOLD BARS
China is well along an ambitious plan to recast large gold bars into smaller 1-kg bars on a massive scale. A major event is brewing that will disrupt global trade and assuredly the global banking system. The big gold recast project points to the Chinese preparing for a new system of trade settlement. In the process they must be constructing a foundation for a possible new monetary system based in gold that supports the trade payments. Initally used for trade, it will later be used in banking. The US TBond will be shucked aside. Regard the Chinese project as preliminary to a collapse in the debt-based US Dollar system. The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms. The larger Good Delivery bars are being reduced into 1-kg bars and stored in China. It is not clear whether the recast project is being done entirely in China, as some indication has come that Swiss foundries might be involved, since they have so much experience and capacity.
The story of recasting in London is confirmed by my best source. It seems patently clear that the Chinese are preparing for a new system for trade settlement system, to coincide with a new banking reserve system. They might make a sizeable portion of the new 1-kg bars available for retail investors and wealthy individuals in China. They will discard the toxic US Treasury Bond basis for banking. Two messages are unmistakable. A grand flipped bird (aka FU) is being given to the Western and British system of pounds and ounces and other queer ton measures. But perhaps something bigger is involved. Maybe a formal investigation of tungsten laced bars is being conducted in hidden manner. In early 2010, the issue of tungsten salted bars became a big story, obviously kept hush hush. The trails emanated from Fort Knox, as in pilferage of its inventory. The pathways extended through Panama in other routes known to the contraband crowd, that perverse trade of white powder known on the street as Horse & Blow, or Boy & Girl.
For many years, China has been the only nation to have some of their money backed by gold. It has normally been 10%. They are going to have to buy a lot more gold to increase it from 10%. That will cause the price of gold to soar. I don't think they can do it. But anyway, time to buy....
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- Jim
�Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing ever happened.� Sir Winston Churchill
Off hand I don�t know what the number is but one can look up just how many tons of gold that there is in the world. But that is the recorded gold that everyone knows about. In addition to that there is the gold that is not officially recorded, this is gold that has been squirreled away and no one is supposed to know about except the owners. It has been estimated that this is ten times the amount of known gold.
And if that is not enough it is claimed that china has more then double that total amount in un-mined gold that is still in the ground.
So while gold would be a better exchange medium then our worthless fiat dollars it is not quite as good as some people might think.
I heard that India has been paying Iran in gold for oil.
But really, are you going to have a couple billion people toating around kilo bars of gold. No! there will still be paper money, or electronic money. there is not enough gold in the world to back the worlds finance and trade. Money or its substitute will still be made out of thin air, I suspect, or real and actual labor, as likely it should be
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"Everything we hear is an opinion, not a fact. Everything we see is a perspective, not the truth." Marcus Aurelius
I heard that India has been paying Iran in gold for oil.
And this is why our banksters so desperately want a war with Iran, they want to get hold of their banks so they can then force them to use our dollars. The nuclear issue is just a smoke screen for their agenda.
The invasion of Libya was for the same reason. Ghadaffi was advocating the use of gold for exchange thus he had to be removed. Al-Qaeda is now in control of the country but our banksters are in control of their banks and that is all that matters to them. The same was also true for Iraq. Hussein was our “buddy” until he decided to stop using our dollars.
But now Russia, China, India, Turkey(?) are moving towards a gold standard. Plus a bunch of smaller countries are also ready to jump on board. So are we going to invade all of them? The elite would love to see a nice little world war as it would remove in their opinion a bunch of us “useless eaters” and those that survived would by much easier to control.
However I don’t see that as being allowed to happen, but the dollar being the reserve currency of the world will end. I suspect that we still will have paper money and electronic transfer of funds but they will be backed by gold.
China has been buying tons of gold and silver and China at least is telling their population to buy what they can afford. The US through the media is telling us it is foolish to have silver or gold holdings.
China-launching-gold-backed-global-currency
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