Keeping an eye on Communist, Totalitarian China, and its influence both globally, and we as Canadians. I have come to the opinion that we are rarely privy to truth regarding the real goal, the agenda of Red China, and it's implications for Canada [and North America as a whole]. No more can we rely on our media as more and more information on China is actively being swept under the carpet - not for consumption.
Saturday, January 30, 2016
[WARNING] China, Russia Create Own Gold Market to Take Down U.S. Dollar
[WARNING]China, Russia Create Own Gold Market to Take Down U.S. Dollar
"Central banks and traders (especially the big ones acting on behalf of mega hedge funds, large-scale private funds, and institutions) can push gold prices higher – or lower," Fitz-Gerald wrote. "Thefinancial markets are like a football game in that there is a constant flow of energy between participants. And the 'manipulation' works in both directions, especially when it's being orchestrated by the Fed and other central banks in the name of political expediency."
The countries have started to create their own gold market, separate from the West…
With New Gold Market, China and Russia Wage War on U.S. Dollar
F. William Engdahl, an American-German economic researcher and best-selling geopolitical author, was recently quoted on the subject by business blogSputnik on Aug. 16.
He said that while key Western banks are artificially restraining gold prices to breathe life into the diluted and devalued dollar system, Russia, China, and other emerging economies are involved in "the genial move" to establish an entirely different gold market.
"The COMEX gold futures market in New York and the Over-the-Counter (OTC) trades cleared through the London Bullion Market Association do set prices which are followed most widely in the world. They are also markets dominated by a handful of huge players, the six London Bullion Market Association gold clearing banks – the corrupt JPMorgan Chase bank; the scandal-ridden UBS bank of Zurich; The Bank of Nova Scotia – ScotiaMocatta, the world's oldest bullion bank which began as banker to the British East India Company, the group that ran the China Opium Wars; the scandal-ridden Deutsche Bank; the scandal-ridden Barclays Bank of London; HSBC of London, the house bank of the Mexican drug cartels; and the scandal and fraud-ridden Societe Generale of Paris," Engdahl narrated.
Engdahl noted China and Russia perceive speculative futures contracts (based in London and New York) as lying in the same manipulative hands. He concluded the countries are of a mind to resolve Western gold price manipulation by controlling their own, separate gold market.
However, "[r]ather than scream and cry 'fraud' at the owners of the COMEX/CME or the London Bullion Market Association Big Six clearing banks, these countries are involved in the genial move to create an entirely different gold market, one that not JPMorgan Chase or HSBC or Deutsche Bank control, but one that China, Russia, and others of a like mind control," Engdahl stressed.
China's new "Silk Road" economic development plan and $16 billion gold investment fund launched in May are all part of the plan to increase China's gold holdings at the expense of the U.S. dollar, Engdahl cites.
"As China has expressed it, the aim is to enable the Eurasian countries along the Silk Road to increase the gold backing of their currencies. That sounds very much like some clear-thinking and far-sighted governments are thinking of creating a stable group of gold backed currencies that would facilitate orderly trade free from Washington currency wars. South Africa, also a member of the BRICS along with China and Russia, stands to add to the new energy surrounding a renaissance in gold as a support of solid, well-based currencies to replace the diluted and devalued dollar system," the researcher stressed.