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......... Now the Americans will have to find a reason to go to war against China !!
According to an article, China is recasting all of their gold reserves into small one kilo bars in order to issue a new gold-backed currency. Many say this will disrupt global trade and will eventually cause a collapse of the US dollar.
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 rushby 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.
China is no "leader of the free world" but it's understandable any advanced country is tired of Bernanke and the Fed's bull and the U.S. probably never going to pay their issued debt bonds.
Last serious attempt to go back to a precious metal backing in 1963 by JFK, then soon after shot dead and then Nixon "temporarily" ditched the gold standard. (8 minutes, 20 sec in video)
This is a questionable (at best) article that references another un-named article as the source for this story. Do you really find that credible?
From the article:
"According to an article, China is recasting all of their gold reserves into small one kilo bars in order to issue a new gold backed global currency. ...."
"... confirmed by my best source ..."
Everyone has a right to believe whatever turns their crank ... that doesn't mean it is Trade News Worthy... IMHO
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
