The gold price manipulation scheme will go down as the biggest financial market scandal in US history for numerous reasons. They include the destruction of the free market system in the United States. The manipulation of the gold and silver prices eventually led to the manipulation of US interest rates via the Fed, the stock market via the Plunge Protection Team, and to the currency markets. – Bill Murphy, GATA.org
We were all expecting a grand global announcement of a shift from fiat dollar to gold standard, actually a basket of sovereign currencies backed up by hard assets, e.g. oil, natural gas, copper, silver and gold, and yet, it is turning out not to be the case.
What we are seeing right now is a gradual implementation of that shift.
Gold prices have soared on the recent wave of global volatility with stock market crash in China and the Swiss national currency turmoil, exceeding $1,300-1,320/oz.
© REUTERS/ Leonhard Foeger
MOSCOW, January 19 (Sputnik), Kristian Rouz – One of the top-valued metal commodities and a universal monetary equivalent, gold, is heading to exceed the psychological threshold of $1,300/oz., as investors in Asia-Pacific and Europe are gravely concerned with the sudden fluctuations in the Swiss national currency’s FX rate and today’s crash in mainland China’s stock markets.
BRICS decision to abandon the US dollar in favor of their local currencies, and the establishment of its own gold exchange based in Singapore late last year have started to show effects on the financial integrity of the European economy.