Chinese central bank gold buying is hitting records. Are they building a gold-backed BRICS system?
Chinese central bank gold buying is hitting records. Are they building a gold-backed BRICS system?
For the past 17 months, China’s central bank has been accumulating record levels of gold on foreign exchanges. China, too, is already the world’s number one producer of gold.
Experts conclude that China, along with other countries, are increasingly wary of having their foreign exchange reserves at risk of sanction. These would be reasons for…
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I think the reason yen and other currencies collapsing is the us is legit sucking up digital dollars or the economic strength of other countries…
In 1965 French President Charles DeGaulle spoke about the dangers of having the US Dollar as the world trade currency AND reserve currency. I found the video many years ago and re-uploaded it with Eng. subs. DeGaulle knew 59 years ago what 99% of people still don't:
*https://youtu.be/j58gikUjyIo*
https://youtu.be/j58gikUjyIo
Anything is better than the USD now. Let's not forget that the USD system is forcing us to exchange real value goods for worthless pieces of paper. We are making stuff so Americans can consume it. We are giving Americans the privileges to get free stuff from us. Yes, the USD is in shortage around the world and making trading difficult and that's actually another reason why the world needs to dedollarize. You can't reply on the US to treat the USD responsibly because they can export inflation to your country or steal your assets, and giving free stuff to the Americans to consume just so you can get pieces of paper is both unsustainable as a system and deeply immoral. Worse, you are basically paying taxes to fund their military to come and oppress you.
The USD has to go and it must go..
The US has now declared economic war against China and is ramping up the belligency against China. It will be monumentally st*pid of China to trust that the US will seek peace. The US neocons and most neolibs WANTS TO DESTROY China. Anti-China has near unanimous bipartisan support and the American elites are preparing Americans to go to w*r.
A w*r is coming and the US is getting more and more bloodthirsty each day.
Why the f will China still want to put their hard earned money in the hands of their enemy knowing full well they will steal it before they n*ke China?
yes singapore kept its reserve mainly in gold, shares and physical assets. just enuh foreign currencies for trade
If shit hits the fan would mutual funds be reevuated in a new society? What's the precedent?
Egypt will purchase wheat from Russia because the dollar is too expensive.
The BRICS nations are reshaping the world more rapidly than Westerners can imagine or fully comprehend.
Our prevailing narrative often assumes our own superiority.
Use green note to exchange gold bar.
America weaponized the dollar for political purposes and now they are reaping the benefits and everybody is dumping the dollar for gold for smooth transaction
China is getting rid of holding surplus USD and other worthless fiat currency. Russia will be doing the same. Get ready for a gold backed BRICS+ currency.
may be china want to rebuild great wall with gold as usd is not strong enough
Someone said – The kings of the world, the top of the top, know the dollar is about to die, and are in a mad rush to convert currency into hard assets! We are seeing this played out as the deck chairs are shifted, and whole nations resources are robbed while we sleep, while distracted by social upheaval.
This is the reason we see things like the destruction of the food chain, nations fighting over Niger, banning the import of Russian metal, China buying farmland in Brazil and America, the west locking out whole nations from the payment system.
Weaponizing the system against Russia/Iran will be the Oligarchs greatest mistake! Confiscating their assets, banning their participation in the worldwide system of commerce is a huge mistake, for a system built entirely on trust, built entirely on the unrestrained international exchange of the reserve currency across the globe. That trust is broken, the next few months will reveal the consequences of their foolish actions, the collapse of the dollar. They think they have control, that they can crash the dollar, the system, to introduce their new globalist system. They delude themselves with their own propaganda. The whole thing is going to fly apart and blow up in their face.
SO, HERE IS MY TAKE – I AGREE – "Weaponizing the system against Russia/Iran will be the Oligarchs greatest mistake! Confiscating their assets, banning their participation in the worldwide system of commerce is a huge mistake, for a system built entirely on trust, built entirely on the unrestrained international exchange of the reserve currency across the globe. That trust is broken, The next few months will reveal the consequences of their foolish actions, the collapse of the dollar".
QUESTION – SO WHAT DOES THE COLLAPSE OF THE USD LOOK LIKE?
1) THE USD BECOME WORTHLESS AGAINST ALL OTHER GLOBAL CURRENCIES OR
2) THE USD BECOMES THE ONLY GAME IN TOWN? MY ANSWER IS – THE US EMPIRE GLOBAL RESERVE CURRENCY BECOME THE ONLY GAME IN TOWN. IF YOU HAVE NOT GOT USD IN YOUR POCKET, YOU ARE A USELESS EATER AND WILL DIE OF STARVATION WITHIN A FEW MONTHS LITERALLY.
FACT – ZIMBABWE DID NOT BECOME POOR BECAUSE ROBERT MUGABE SAID TO HIS PEOPLE "MY ZIMBABWE" (IT WAS THE BREADBASKET COUNTRY OF SUB-SAHARAN AFRICA – ANY THING YOU PLANT IN ZIMBABWE SOIL GROWS JUST LIKE IN UKRAINE SOIL). ZIMBABWE BECAME POOR AND could NOT FEED ITSELF BECAUSE THE COLONIALIST AMERICANS & BRITISH – "Weaponized the system against Zimbabwe and banned their participation in the worldwide system of commerce.
This effectively locked Zimbabwe out from the GFS (country could not and still can not access finance – white western financial system says Zimbabwe is a lost case & therefore is a lost case).
The author says this is a "huge mistake, for a system built entirely on trust, built entirely on the unrestrained international exchange of the reserve currency across the globe" BUT THIS DID NOT DESTROY THE USD. IT MADE IT MORE IMPORTANT (THE ONLY GAME IN TOWN FOR ZIMBABWE FOLKS – THOSE WITH USD IN THEIR POCKET WERE RICH & THOSE WITHOUT WERE STARVING – FACT). IT'S WHAT WILL HAPPEN WHEN THE "USD COLLAPSES" AND COUNTRIES CAN NOT ACCESS USD – BILLIONS OF PEOPLE ACROSS THE GLOBE WILL STARVE.
TO CONCLUDE – SO IF THE RIGHT PUNCH DON'T GET YOU THE LEFT WILL- YOU WILL ONLY STARVE IF RUSSIA, IRAN, CHINA & A FEW NATIONS LIKE GLOBAL SOUTH, BRICKS DO NOT STAND UP TO AMERICA, EUROPE, UK AND ESTABLISH THEIR OWN GLOBAL RESERVE CURRENCY AGAINST THE USD. THEN WHEN THIS HAPPENS (AND IF THEIR LEADERS BECOME LIKE ROBERT MUGABE – ARE NOT PAID & BOUGHT COUNTRY LEADER *SHILLS LIKE THE LEADERS OF Egypt, Saudi Arabi, Jordan etc who turn their back on genocide of their own kind of people & prefer to take in USD – fresh printed USD that keeps them in power while their citizens become poorer & poorer first slowly then very fast – see Egypt population 114 million poor people) THEN AMERICA, EUROPE & UK WILL FIRE THEIR MISSILES AT THESE POORER NATIONS IN ORDER TO MAINTAIN THEIR HEGEMONY & GLOBAL RESERVE STATUS OF THE USD IN A DO OR DIE SITUATION = WW3.
TO CONCLUDE ITS EITHER THE USELESS EATERS STARVE TO DEATH AND THOSE THAT REMAIN BECOME SLAVES TO THE WEST OR THE WEST BLOWS UP THE ENTIRE WORLD IF IT CAN NO LONGER RULE THE WORLD. THAT IS WHITE ENTITLEMENT FOR YOU IN FULL VIEW (my tribe). THAT'S THE STAKES OF THIS GAME & IT IS PLAYING OUT IN REAL TIME AS WE SPEAK. Moving – FIRST SLOWLY THEN REAL FAST.
*A shill, also called a plant or a stooge, is a person who publicly helps or gives credibility to a person or organization without disclosing that they have a close relationship with said person or organization.
The below article shows another turn of western key jailing/ "weaponizing the system against Russia (a non-western country) confiscating their assets, banning their participation in the worldwide system of commerce with a population of 144 million people. As the list of western US, Europe & UK, and their so-called allies (white countries) creates more enemies. So, to does the pressure cooker heat up until like the above author says – “The whole thing is going to fly apart and blow up in their face”.
NOTE TO MY WHITE TRIBE – you may be saved (become the undisputed rulers of the world – slave owners & masters if your western governments can con/bribe non western governments/political class to continue to take western gov bribes like France has done to Niger etc to keep the gov rich with bribe money while the people of the country starve. BUT if this does not work as it has done for much of history post WW2 then my white tribemates your and my ass will all be grass in WW3. Get ready to send your most preciouses sons & daughters to fight for your continued white entitlement across the world. You are God`s children are you not?
US, UK Ban Deliveries Of Russian Copper, Nickel And Aluminum To Western Metals Exchanges: Here's What This Means
Tyler Durden's Photo
BY TYLER DURDEN
SUNDAY, APR 14, 2024 – 04:45 PM
On Friday, the US and UK imposed new restrictions on trading Russian aluminum, copper and nickel in the latest hollow bid to curb President Vladimir Putin’s ability to fund his war machine (as discussed previously, Russian oil is now trading above the western embargo "cap" price virtually everywhere).
According to Bloomberg, the rules prohibit delivery of new supplies from Russia to the London Metal Exchange, where the global benchmark prices are set, as well as to the Chicago Mercantile Exchange. The restrictions apply to copper, nickel and aluminum produced on or after April 13, and the US is also banning Russian imports of all three metals.
Yet like the case of oil sanctions, the decision is purely for popular theater as it will not prevent Russia from being able to sell its metals, since the sanctions do not prevent non-US persons and entities from buying physical Russian copper, nickel or aluminum. While the LME plays a pivotal role in setting global prices, the vast majority of metals are bought and sold between miners, traders and manufacturers without ever seeing the inside of an LME warehouse. Already since 2022, the share of Russian metals sales to China has increased substantially, as some western buyers sought alternative suppliers.
Still, as Bloomberg notes, the new restrictions are likely to affect prices on the LME, which are used as a benchmark in a huge number of contracts around the world. For months, an influx of Russian metal has weighed on LME prices – particularly for aluminum – with non-Russian supplies trading at a premium.
The sanctions will also affect the willingness of traders to handle Russian metal, as many view the ability to deliver on the LME as essential, and some contracts include clauses specifying that they will be void if the metal ceases to be LME-deliverable.
That means the metal – like Russian sourced oil – is likely to trade at a widening discount to other origins, thus reducing the revenue Russia receives, while still continuing to flow into the global market and avoiding the impact of full-scale sanctions on crucial raw materials while making billions more for global commodity merchants like Glencore, Vitol and Trafigura who will be willing – and very well paid – middlemen to assist buyers in evading sanctions. Russian metals exports were worth $25 billion in 2022 and $15 billion in 2023.
“We will reduce Russia’s earnings while protecting our partners and allies from unwanted spillover effects,” US Treasury Secretary Janet Yellen said in a joint statement with her UK counterpart, Jeremy Hunt, who added that the move “will prevent the Kremlin funneling more cash into its war machine.”
No you won't. All you will achieve is raising the prices of commodities further, but yes, the sanction will raise questions for Glencore which has remained one of the biggest traders of Russian metal thanks to a long-term contract with Rusal.
Russia is a major producer of the three metals, accounting for about 6% of global nickel production, 5% of aluminum and 4% of copper. However, Russian supplies account for a much larger percentage of metal on the LME. At the end of March, Russian metal accounted for 36% of the nickel in LME warehouses, 62% of the copper and 91% of the aluminum. Read on at Zerohedge.
Central banks do not hold US$ cash. They hold US$ denominated debt Instruments.
China is slowly cashing US T-Bills and buying GOLD with it
Duh.
Ok so one of the strategies being discussed (presented by Dr Michael Hudson) is to use a new currency only for interbank settlement which will be pegged to Gold. This is what JM Keynes suggested in the Breton Woods conference but he was shut down. By the US which wanted the dollar to be the reserve currency. Just simple exchange of gold is hard since there is not that much gold to go around. Let’s what they present when the BRIcS conference happens this fall since the chairmanship is with Russia and they are seriously working on this for the past year or two.
When the Chinese population realised that speculating in property in China was no longer ' a good bet' they stopped investing in property, so the real estate market folded ( everglade et al) Chinese citizens cant invest in crypto- so they ve turned to investing in physical gold. Do the numbers- there a lot of Chinese with a lot of wealth and that suits the chinese government- because that's wealth stashed for later, rather than spent on expensive foreign imports.
You keep a strong currency like the Euro out of your insights. E.g. : Saudi-Arabia has a trade with Belgium but not with the Netherlands. Belgium and the Netherlands still can trade with each other due to the Euro. Saudi-Arabia can trade with the whole EU due to the Euro.
When South America also introduced a strong common Peso, Saudi-Arabia also can trade with the rest of South America.
Conclusion : the world can have 7 strong geographical currencies for trading worldwide with them. The EU has show us how to achieve that. One nation, the US, can't dominate the whole world anymore. I hope you talk about this idea, 7 strong currencies, in your next video.
North America is the US and Canada. That's why there's a wall at the south border. All nations that lies south of the US are South America. Thus, Central America and the Caribbean are South America too. There's only North and South America.
I lived in China since 2012 till 2014 and in my first month there I realized how obsessed all the people are with buying gold. There are gold shops around every corner.
Gold is for savers, Bank money is for bonkers with depts at large.
Ive heard that they h ave accumulated more than
25000 TONS over the last 15 years America has apparently 8500 tonnes in fort knox
See how much you save when you Dont Spend 5 TRILLION DOLLARS
ON WAR AND HEGEMONY 😂😂😂 IMAGINE IF YOU SPENT THAT ON YOUR COUNTRY
Just a thought 😊