Prior to WTC Building 7’s “mysterious” destruction, Larry Silverstein is said to have uttered, “Pull it, pull it!”,
while the structure was still burning.
We are also told that the exact time when the fiat dollar finally crashes is when the banks tell us exactly the opposite of how the fiat dollar is actually doing.
Bloomberg Intelligence forecasted that for China to partially back Yuan with gold it would “require a price of $64,000 per ounce.”
“If China were to back its yuan with gold it would require a price of $64,000 per ounce according to a recent report from Bloomberg.
While Bloomberg give no details as to how they arrive at this figure, our “back of envelope” calculations would confirm that at its current value relative to the dollar the yuan would indeed require gold – priced in dollars – to be priced in the tens of thousands of dollars.
Chinese M1 money supply is roughly 33.64 trillion yuan which at today’s exchange rate equates to around $5.4 trillion.
Bloomberg conservatively estimate China’s gold reserves at around 3150 tonnes although many analysts believe the figure to be much higher.
In order to back $5.4 trillion yuan with 3150 tons of gold, the gold price would need to be in the region of $48,600 per ounce.
Bloomberg conclude that, at today’s prices, it would be “basically impossible” for China to fully back its yuan with gold. Indeed, at $1,200 per ounce, it would require over 126,000 tonnes to back $5.4 trillion.
The recovered Global Collateral Accounts is more than just 126,000 metric tons of gold [here]. Bloomberg, certainly, will never talk about it.
Everybody is expecting that April 19, 2016, i.e. today, will be the day when China and Russia would pull the Khazarian controlled fiat dollar down.
But mere hours ago, Bloomberg posted this:
“Credit Suisse Group AG is advising its private-banking clients to bet the greenback will gain versus a basket of peers that includes the South Korean won, Taiwan dollar, Thai baht and Philippine peso. UBS Group AG said investors should buy the currency against the Singapore dollar and yen. Stamford Management Pte, which oversees about $250 million for Asia’s rich, urged clients to buy the U.S. dollar each time it falls below S$1.35.
The Monetary Authority of Singapore’s unexpected easing on April 14 has fueled speculation that other policy makers, concerned about a worsening global economic outlook, will follow suit. A gauge of 10 Asian currencies excluding the yen has fallen 0.1 percent this month. The Bloomberg-JPMorgan Asia Dollar Index climbed 1.9 percent in the first three months of the year, the first gain in seven quarters, as traders adjusted bets on the timing of U.S. interest-rate increases.”
Are Western bankers anticipating a major offensive from the BRICS through China’s public announcement of a gold-backed Yuan, and Russia’s gold-backed Ruble before the end of this month?
Bank of China did announce its plan to release gold-backed Yuan years ago…
When that happens, fiat dollar-Yuan/Ruble exchange would be severely restricted.
Both Russia and China have been buying gold in record amounts over the last few years, and have been systematically dumping US treasuries through third parties in many occasions.
They have the power to float the prices of gold and silver to free-market levels anytime they want, which Deutsche Bank recently admitted to having rigged in connivance with other players in the precious metals market.
When that happens the value of gold and silver China and Russia have will skyrocket.
Whatever the case maybe, the fiat banking crash itself has already been happening…
“It is actually happening all around us right now. Let’s just look at some examples of the stresses within the system. The ECB is facing bank failures in almost every member country. An Austrian bank just had to be bailed-in and the whole Italian banking system is on the verge of collapse. The Greek banks are already bankrupt, although no one dares to declare it officially. The ECB knows that they only have one tool left to temporarily postpone a breakdown of the European banking system and that is to further increase its money printing program.
The balance sheet of the ECB has exploded by 45% to 3 trillion euros in just the last 15 months. The Bundesbank, the German central bank, is totally aware of the predicament of the European banks. But they also know that they will be on the hook for the majority of the money printed by the ECB and therefore they are said to have indicated that they will sue the ECB if it accelerates money printing.
… U.S. outstanding derivatives are at least $500 trillion and most of that will simply implode as counterparties fail. The Fed and the FDIC are concerned about this and that is why they just issued a warning to U.S. banks. They told JP Morgan, for example, that the bank is unprepared for a crisis and that they have no plans for winding down their derivatives. JP Morgan’s derivatives exposure, properly valued, is likely in excess of $100 trillion.
Another major U.S. problem is the Treasury market. There is a total of $19 trillion debt owed by the U.S. government. Of this amount, $6.2 trillion is owned by foreigners. China and Japan hold around $4.5 trillion in total. The third largest holder is Saudi Arabia with $750 billion. And Saudi Arabia has now threatened to liquidate their holdings if the U.S. probes Saudi Arabia’s role in the September 11 attacks. But Saudi Arabia is not the only country that could cause chaos in the U.S. treasury market.
Japan will soon need to sell its U.S. treasuries to survive a bit longer.”
Saudi Arabia does have a standing plan to ditch the dollar early on.
Interestingly, BlackRock, the world’s largest money manager is urging exactly the opposite…
“The U.S. asset manager wants Hong Kong Exchanges & Clearing Ltd. to change its listing rules, said Pru Bennett, head of corporate governance in the Asia-Pacific region for BlackRock. Firms that hold more than 50 percent of their net assets in cash should be compelled to give any funds above that threshold to shareholders.
The exchange’s listing rules do not set a level beyond which a company is defined to be holding excessive cash. BlackRock started its campaign after it failed to prevent a company called G-Resources Group Ltd. from selling its largest asset, a $775 million gold mine in Indonesia, and keeping the proceeds.”
So, they are now regretting they sold hard assets in Asia.
The Bloomberg article continues,
BlackRock is not the only investor in the former British colony to seek greater influence over listed companies. David Webb, a publisher and activist investor, is trying to make firms invest in productive projects, rather than holding lots of cash.
In short, they want Western companies to release cash to Asians, whom they are now prodding to buy fiat dollars at the same time, as stated above. Both articles were published by Bloomberg just hours in between.
Incidentally, while the fiat financial structure is still burning, two international banks are reported to be joining this impending Yuan gold fix…
“Two international banks will join the proposed Chinese yuan gold fix, which is expected to be launched in less than a week, according to media reports.
Wednesday, Reuters reported that ANZ and Standard Bank will be the only two international banks that will be involved in the daily gold auction, with a total of 18 banks participating. Both banks have gold import licenses into China.”
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