Overnight we got a second confirmation of China's golden appetite, when the PBOC announced that China's official gold holdings had risen again in August, increasing by 520,000 troy ounces, or 16.2 tons (which is more than 3 times the entire registered gold inventory in the Comex vault system), and bringing the new total to 54.5 million ounces, or 1,694 tons of gold. In dollar terms, Chinese gold holdings rose from $59.2 billion at the end of July to $61.8 billion. The punchline: in a month in which China sold a record $107 billion notional in Treasurys, it had no qualms about rotating the sale proceeds into gold.
You can read the rest @
http://www.zerohedge.com/news/2015-09-30/china-bought-gold-proceeds-record-sale-us-treasurys
Whither the dollar?
What did Kelly Mitchell predict?
There is a mechanism being put into place to destroy the US dollar in the next few years. It has many components, but the primary ones are an alternative oil sales system, a gold-backed trade platform, an international central bank outside of Western control, a framework for diminishing US influence, available natural resources, and a coalition of regional leader nations. Participants have reportedly agreed to prices of $7,500 minimum for gold and $150 for silver [per troy ounce].
http://sainthoward.blogspot.com/2013/12/gold-wars-must-read-book.html
Much of what we're seeing in the world today (e.g., war in Syria, civil war in Ukraine, pivot to Asia, TPP, TTIP, TISA, etc.) stems from US efforts to counter that mechanism.
No comments:
Post a Comment