On SD Metals & Markets, Steve St Angelo discusses how China is killing the US dollar, and with it, the demand for US Treasuries. The Dow is 6,000 points off the 2016 lows, and now inflation is rearing it’s ugly head. With all the uncertainties gripping the US economy, one event will quickly turn into crazy moves in gold and silver prices…

China plans to trade oil with a gold-backed Yuan. This is a major death nail for the petrodollar.

St. Angelo says countries will no longer need their US Treasuries. Massive bond dumping will take place, resulting in high inflation.

What does this all mean for precious metals? He says gold and silver should continue rising higher in price.

St. Angelo also reveals the recent spike in American Silver Eagle sales shows a major shift in the silver market.

  1. Still pushing the gold-backed yuan for oil myth or is this going to happen.  Not sure.

    I wonder which bank, if any… they will let fall first?   They will probably pick one sacrificial bank for transferring and gathering all the bad debts.

    Actually, I can see our corrupt congress first passing a law that will turn unsecured debts like credit cards into secured debts… giving the banks the right to bail-in even for unsecured debt.  MasterCard and Visa must be saved.  Remember that bank deposits were already previously declared bank unsecured debts… so your money in the bank is really their money in case of a bank failure.

    Things are looking kinda shaggy… time for a haircut.


  2. I am not too sure about this “gold backed yuan”.  Is it the old yuan fully backed at some rate to be announced as I have not heard what this is yet?  Maybe it is anew yuan to be used only for oil trading that is backed by gold or maybe the chinese are just pointing out that you can buy gold on the Shanghai and Hong Kong exchanges at some price determined largely on the Comex?

    • @silverine

      As I pointed out in another post a few days ago, the yuan is NOT gold backed.

      Any oil seller getting yuan can use them to buy gold on the international part of the Shanghai exchange, in the free trade zone, at prices determined by the COMEX.

      Further, it will NOT be Chinese gold that they buy on the international exchange!

      It is absolutely no different than the same seller selling the same oil to the US, Germany, or anywhere else, and then buying gold on the COMEX.

      To suggest anything else is simply talking crap to get a catchy headline.

    • @Faranginkorat


      “To suggest anything else is simply talking crap to get a catchy headline.”

      Surely that would not happen here on the precious metals flagship web site?  Say it ain’t so!  😉

      Another thing worth mentioning here is what is meant by “backing”?  Any number of possible definitions can be bandied about with everyone *thinking* that they know what is meant, but do they?  My guess is that what most think they know is probably not what the Chinese mean when they use the term “backed by gold”.

      To me, “backed by gold” means that a currency is convertible to gold ON DEMAND, as was once the case.  I know that most others probably do not share this definition and that’s fine.  But in any kind of international talks or agreement, such terms need to be very carefully and narrowly defined so that all of the participants know what’s really being said and to what they actually are agreeing.


    • @silverine      please do your own GGL searches on the subject, it is not hard. 

      If you have any problems with that, CLICK in my name and follow my posts & LINKS for the last 3-6 Months.                                                       CHEERS mate – from JOHNLGALT.  

    • GGL   ‘ONE BELT, ONE ROAD’  would be a good starting point & then follow the Indian, Russkies, Chinese, & billions of other peoples journey back to a Gold Standard.


      If you don’t believe it is happening, then just watch the football – or Kim’s A$$ on T.V. or



      Network .

  3. Being not the expert that most of you are, I’ll just collect 2 OZ. (plus a dime) whenever I can. Found a 64 dime in my change last week. The poor young girl working the register had no clue there was such a thing. Thought is was pretty though, like her silver necklace. Hope all of you are well and out of the path of Mistress Irma. 🙂

    A gold backed Yuan? Hmmmm! I’ll have to ponder this a while. Not sure that gold backed will truly mean anything as far as the dollar losing its status. Many countries, to many to go to war with, are turning to the Yuan & Ruble without the gold backing. Hang on!

    • to Too many to go to war with, are turning to the Yuan & Ruble without the gold backing. Hang on!” 


      Sorry about the edit 2 OZ. , but it makes more sense this way, and you have hit the nail on the head. 

    • “Hope all of you are well and out of the path of Mistress Irma. 🙂” 

       Same this way from Mick in Victoria Australia to his friends in Ft. Myers FLORIDA. & JLG. 

  4. China is the number one oil importer.  There is a difference between an overall gold-backed yuan and what China is proposing… China will back all oil imports with gold through a special exchange to enhance the security of the oil transactions.   This move will further cripple the petro-dollar while enhancing the value of gold.

    I can see this happening.  Interesting…  Andrew McGuire is back on KWN… citing Goldman analyst Curry has also encouraged customers to get out of gold ETFs and into physical gold.    What does Goldman know?   Something is happening and I think we will soon see it.

    I know KWN hypes gold and McGuire’s record lacks… but what if he has been right on everything but the timing.


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