If YOU would like to be on a Gold & Silver PING LIST, please pm me.
The Gold & Silver Ping List covers the following:
Everything Gold & Silver
Stock market investments in mining companies,
etc.
Posted on 09/09/2024 7:53:52 AM PDT by delta7
U.S. Secretary of State Antony Blinken probably discussed China's involvement in the de-dollarization movement during his recent visit to that country, London metals trader Andrew Maguire tells this week's edition of Kinesis Money's "Live from the Vault" program.
China, Maguire says, may have as much as 40,000 tonnes of gold is its "shadow" banking system, ready for use in the gold-linked international trade currency being prepared by the BRICS nations and Russia.
Mainstream financial news organizations, Maguire says, still don't understand that the classification of gold as a "Tier 1" asset by the Bank for International Settlements has triggered the recent rise in the gold price and facilitated de-dollarization.
The U.S. Federal Reserve, Maguire says, is losing its struggle to keep the "paper" price of gold down because declines in the "paper" price are quickly bought by foreign central banks converting "paper" to physical.
The program is 48 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=kGJIW9_lY_w
The US claims to have 8,000 tons, China alone now disclosed to have 40,000 tons. Throw in the ENTIRE world’s Central Banks are making HISTORIC gold purchase. Hmmm…..preparing for gold reevaluation? ….all eyes on theBrics Summit in October, it will be historic!
Don’t get caught with your pants down, you can’t prepare for what you don’t see. Western MSM is simply not reporting on Brics, and the nail it will drive into the USD’s coffin.
If YOU would like to be on a Gold & Silver PING LIST, please pm me.
The Gold & Silver Ping List covers the following:
Everything Gold & Silver
Stock market investments in mining companies,
etc.
How would Trump handle the collapse of the dollar? It is highly likely to happen under the next administration.
I know Trump proposed a 100% tariff on all good coming from countries that do not have the dollar as reserve currency, but I have no faith that it would protect our economy.
40 thousand tons eh? That’s gold Jerry....GOLD!
A YT channel silver/gold guy recently did a calculation, figuring the price of an ounce based on converting 100% fiat dollars to 40% gold-backed dollars (based on M1).
The price was $27,000 an ounce.
Seems to me, a price of $27k/oz is currency reset territory.
Take away our reserve currency status and in a day we're Valenzuela... well, not in a day - we did invent the system the Chinese are copying. Warren Buffett's selling - probably fear of Kamala doubling capital gains taxes but what's he buying? Biden and his thugs are too corrupt to care if the country's destroyed - 'they got theirs'... So what are we left with?
LOL China is a vulture exporter: if it’s trading “partners” had to reconcile their trade deficits in gold, their currencies would plummet and the yuan would soar, putting an end to Chinese exports.
There is no reason to trust China or its numbers.
Everything is fake.
Is that in the gold plated tungsten bars or the 100% gold bars? /rhetorical question
That’s about our total US debt.
Exactly.
40,000 tonnes is 1,286,173,633 troy ounces
8,000 tons is 23,4112,190 troy ounces
1 tonne = 1.119 US tons
1 troy oz = 31.1 ounces
40 thousand tons eh? That’s gold Jerry....GOLD!
—
Ton and tonnes are two different weights.
Assume you are a country like Egypt, Bangladesh or Zaire. You are not a major economic power, but have a large population who needs to be fed and you want to develop. You must play by the international economic rules set by greater powers. You must export to earn foreign exchange, to import technology and expertise, while you try to develop these things internally.
for the past 80 years, this focus has been to earn/borrow/get US dollars. US Dollars are used everywhere, they are easy to borrow from international banks and institutions, and generally keep their value vs. other currencies
But with that, the USA controls your economic fortunes, and more recently, will use the system they control to meddle in your politics or pressure your foreign policy
Since you must do the same work to earn either US dollars or gold as both are out of your control - why wouldn’t you automatically start to switch to gold, which has nearly all the same advantages, and far fewer political strings of US dollars - especially if global institutions are opening up that will make exchange in it very easy?
What % of those 40,000 tons is real, actual 99.999 Fine Gold, and how much is counterfeit crap? Remember who we’re discussing here!
He's been doing his share all along, as the fiat dollar MUST be taken down to complete the Draining of the Swamp.
Trump "nationalized" the FED in March 2020, rolling the then private FED to be under the US Treasury.
The Federal Reserve Rolled into the US Treasury and Economic Forecast What the new gold-backed dollar may look like. Note the removal of "central-bankstering" Hamilton from the currency and note the inclusion of EO-11110 JFK:
fear of Kamala doubling capital gains taxes
—
That’s on top of the unrealized capital gains tax.
You buy a piece of property for $100k, and do nothing with it. However the property could have a nice multi-story apartment building on it, worth $2 million. Yo are taxed on the difference. Next year, the value of the putative apartment building goes up $500,000. You are again taxed on the difference. The next year you are standing in a bread line.
The program is 48 minutes long and can be viewed at YouTube here:
https://www.youtube.com/watch?v=kGJIW9_lY_w
xxxxxxxxxxxxxx
adding to watch list
A lot of "fringe" economists say the same. I say "fringe" only because their views simply don't exist in major US university economic depts and certainly not in anything connected to Government.
The USA could nearly eliminate its debt problem by having the US Treasury declare - all the gold at Fort Knox is now valued at $27,000/oz and we will buy and sell at that price. The US Treasury would suddenly have $Trillions on its balance sheet. People would see a one-time bout of massive inflation and suddenly US Government debt would be much smaller compared to its assets.
40,000 tonnes, not tons. 1 tonne = 1.119 US tons
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.
