China's Gold

[sixgun]

An interesting video - my view is China has 40 000 tonnes or thereabouts. Whatever - China has to have a massive gold reserve - it only takes a bit of arithmetic. 

 

[ChrisF]

What a fantastic and interesting video, thank you very much for sharing sir. Subbed to his channel, he produces very articulate and well thought out videos.

[trp]

Great video. Very interesting. Just as informative as his video, 17 million **** Offs! 😂 
He’s not alone, I saw a video with Egon von Greyerz saying pretty much the same thing. China have a agenda and they are powering towards it. 

[sixgun]

We have seen here a logical and as far as is reasonably known an estimate of the amount of gold China has.  We should know that Russia has been mining her own gold and buying it in exchange for her gas and oil. Russia's reserves are actually thought to be more than China's.

The world reserve currency is the USD. The banking system has been creating vast amounts of dollars - most of the currency is not made by central banks, it is made out of thin air by High Street/Main Street banks. The video below you will see covered the Eurodollar - USD which exist outside the US and outside its control. The Eurodollar is in fact outside all control - the Eurodollar is not even fractional reserve lending as it is outside the Federal Reserve's regulations.

So it is important to understand there are mind boggling $trillions of dollar denominated assets in existence. 
The video goes on to mention that a dollar collapse is inevitable.  When unbacked fiat is circling the drain, the system will not accept another unback system. Central banks to maintain credibility in fiat will be forced to move to some sort of gold standard - like it or not.

The video goes on to describe the situation surround Sterling in WWI. Sterling, the then world reserve currency, had been on the gold standard. The pound came off the gold standard to enable to Government to create currency to fund the war and the currency was doubled. In 1925 Churchill decided to take the pound back onto the gold standard. The rate as measured by the USD was $20/oz. As the currency had been doubled the logical thing would be to have gone back on the gold standard with gold worth twice as many pounds. Churchill did not do this. The result was the money supply shrank which caused deflation and was a harbinger of recession and the Great Depression. 

So with these vast amounts of USD exposed in the system that is crumbling, to go back onto a gold standard would mean increasing the price of gold. Dollars would have to be backed by gold instead of nothing. This is how the huge numbers in USD the price of gold is estimated at when the dollar collapses.

Who would have the gold to do this? China and Russia. The UK having sold off most (if not all the gold) would have to borrow gold from the gold powers. The collapse of the dollar would catapult the likes of Russia and China to gargantuan status.

So the question is not if gold will shoot to the Moon but when. When the dollar collapses and or there is no need for the buyers of gold to keep the price down

 

[Abyss]

Question is about when? Structural changes in the monetary system can take decades to play out. View Mike Maloney YouTube channel talking about dollar collapse 2016 and then before 2020 the goal post keep on changing. USD strongest fiat currency because of its global reserve status. US government has no other option than to create inflation to reduce its debt obligation.

Devaluation in the USD would have the same results fair balance of trade and purchasing power moving from west to the east. Devaluation in real terms US debt would be devalued and foreigners would be able to buy more US debt at cheaper prices relative to their currencies. To return to a Gold standard SHTF scenario black swan event such Deutsche Bank collapse.

Under the normal status quo Gold will not be allowed to shoot to the moon and we will continue on a fiat based monetary system for the next decade. Big shadow casted by the next recession and impact to the housing market and knock effect to all the dominos.

 

[sixgun]

22 hours ago, Abyss said:

Question is about when? Structural changes in the monetary system can take decades to play out. View Mike Maloney YouTube channel talking about dollar collapse 2016 and then before 2020 the goal post keep on changing. USD strongest fiat currency because of its global reserve status. US government has no other option than to create inflation to reduce its debt obligation.

Devaluation in the USD would have the same results fair balance of trade and purchasing power moving from west to the east. Devaluation in real terms US debt would be devalued and foreigners would be able to buy more US debt at cheaper prices relative to their currencies. To return to a Gold standard SHTF scenario black swan event such Deutsche Bank collapse.

Under the normal status quo Gold will not be allowed to shoot to the moon and we will continue on a fiat based monetary system for the next decade. Big shadow casted by the next recession and impact to the housing market and knock effect to all the dominos.

Predictions of timings of events are never a good idea b/c they are nearly always wrong. That the prediction of a timing is wrong does not invalidate what  was being predicted.

Since 2008 the normal status quo ended. There is a lot of normalcy bias going on - where 'people believe that things will always function the way things normally have functioned.' 

China's accumulation of gold stepped up hugely from 2008 on wards - that is not coincidence - China knew what was coming.  She knows fiat is finished and it is only a matter of time. That time is certainly not decades. The West's gold will run out before then. Mike Maloney is selling gold and silver so is a doom and gloom merchant but he is correct in the basics of what he says. All the banks are bankrupt - any of them could fall - that it is only Deutsche bank is a deception. All the big banks are stuffed, if any of them came down, they would all fall. This will not take decades to play out. It nearly came down in an afternoon when there was the electronic run on the banks in 2008.
 

 

[5huggy]

 

[Groundup]

On 31/12/2019 at 04:06, sixgun said:

An interesting video - my view is China has 40 000 tonnes or thereabouts. Whatever - China has to have a massive gold reserve - it only takes a bit of arithmetic. 

 

Just watched this. Very interesting

Never heard of this guy. Then he plugged a book called Daylight Robbery, I bought this audio book months ago. Hopefully I learn something 😳

[sixgun]

2 minutes ago, Groundup said:

Just watched this. Very interesting

Never heard of this guy. Then he plugged a book called Daylight Robbery, I bought this audio book months ago. Hopefully I learn something 😳

The book sounds really interesting. 

[silenceissilver]

13 hours ago, sixgun said:

All the banks are bankrupt - any of them could fall - that it is only Deutsche bank is a deception. All the big banks are stuffed, if any of them came down, they would all fall. This will not take decades to play out. It nearly came down in an afternoon when there was the electronic run on the banks in 2008.

Markus Krall, who only recently became a board member of Degussa, has created the stress tests that 80% of the German and many European banks use internally. He claims behind the curtains the big bankers know the situation for their banks is dark. He also predicted the German banking sector as a whole, not just the Deutsche Bank on its own, will no longer be profitable, from Q3 2020 on, plus minus two quarters, the first time in 2018 and he repeated this prediction several times, the last time must have been just a few days before Christmas.

His prediction goes on, most likely in the first half of 2021, German politicians will nationalise loads of banks if not all of them and everyone "who is not up on the tree at (politicians/bankers counting one, two) three, will get a credit, in order to fight the deflation which will lead to massive inflation. He also says, there are two possible outcomes - after 2 to 3 years of very dark times, Germany could see the biggest economic boom ever or descent into socialism as he also, rightfully I think, says it won't just be an economic crisis but a total societal crisis with basically the forces for liberty, conservatism and patriotism on one side and (climate) socialists on the other. If the right side wins, a boom after 2 to 3 years, otherwise socialism for decades to come.

He also thinks, although the underlying problems are principally the same everywhere, including the UK, first of all, the UK might well profit from this new Euro crisis that it will also be, as many continentals will try and bring their money to the UK, particularily because of Brexit.

[MancunianStacker]

Wonder if the USA spent their “missing $22 Trillion” on gold too??? Do they have no gold left at Fort Knox or do they have a whole lot more than anyone thinks??? 

[Abyss]

YouTube video by Erik Townsend George Gammon talking about future government crypt currency and hyper-inflation of the USD and provide timing estimate next decade. 1 hour 20 minutes long but interesting watch.