“As we reported last week, Moscow and Beijing took another step towards de-dollarization with the opening of a yuan clearing bank in Russia.”
According to an article published yesterday by Sputnik
, progress made in promoting bilateral trade in yuan is the first step towards an even more ambitions plan — using gold to make transactions:

The Chinese Are Putting in Place a Link Between Oil and Gold.   The Petro-Dollar has almost completely vanished.
The Gold Standard is Emerging…

What if you could carry and exchange gold in the exact same manner as you do with the dollar bills in your wallet?
Last year, we introduced the precious metals community to a company called Valaururm, which has developed a technology that’s making this possible.
This week, we check in to see what’s new (spoiler alert: Lots), including the serious interest a small sovereign central bank is showing in using this technology to replace its national fiat currencywhich would create the world’s only modern precious-metals backed monetary system:

Goldman Sachs is already threatening that if Greece fails to to vote “the right way” in the upcoming re-elections, that a Cyprus-style bail in or bank holiday could resume.
As Klaas Knot, the head of the Dutch Central Bank recently admitted, during the last Greek debt crisis, Dutch authorities (and doubtless, German, and Nordic countries as well), were considering emergency plans, including the creation of a brand new currency for the Netherlands, called the Florijn!
Was the entire purpose of the Greek bailouts all along….
Simply a means to buy time, in order to secure the gold of the countries who wished to break away from (or reinvent) the Euro experiment?
If those countries were already entertaining the concept of new regional currencies, a split Euro, or Northern “Nordic” Euro in 2012….do you think those same countries are doing so again right now, as the same, old troubles are causing a great gnashing of teeth in Brussels?
You’d better believe they are.

The Netherlands (and likely Germany as well) made concrete plans in 2012 to switch to a new currency in case the euro would crash.   Not long after the emergency currency was ready the Dutch began repatriating 122.5 tonnes of gold from New York.
This can be very important as there is a possibility the Euro-crisis will ignite again.
Monday we learned Greece will have new elections on January 25 that could bring the anti-bailout Syriza party to power, risking Greece’s membership of the Eurozone.
Will the first nation to launch a new gold-backed currency be Russia China The Netherlands??

Jim Willie joined TFMetalsReport this weekend for a special holiday podcast.   In this excellent report from the Hat Trick Letter editor, Willie discusses:

  • This week’s announcement by Gazprom that they will begin accepting payment in rubles and yuan
  • The escalation of US and EU sanctions against Russia and how they are failing/backfiring
  • Willie explains the US’ motives for provoking Russia via Ukraine: To entice Russia to prematurely move to place the Ruble into a reserve currency status, and ultimately, to blame Putin/Russia for the coming US dollar collapse!
  • The growing isolation of the US as a economic superpower
  • The eventual emergence of a new global currency regime & collapse of the dollar

60 full MUST LISTEN minutes of Pure Golden Jackass are below:

As the Obama administration continues to alienate almost everyone else around the entire planet, an increasing number of prominent international voices are starting to question why the U.S. dollar should be so overwhelmingly dominant in global trade.  Gazprom is now asking their large customers to start paying in currencies other than the dollar But this is not just a story about Russia any longer.  As you will read about below, China and South Korea have just signed a major agreement to facilitate trade with one another using their own national currencies, and even prominent French officials are now talking about the need to use the dollar less and the euro more.  John Williams of shadowstats.com recently said that things have never “been more negative” for the U.S. dollar, and he was right on the mark.  The power of the almighty dollar has allowed all of us living in the United States to enjoy an extremely high standard of living for decades, but as that power now fades it is going to have profound implications for the U.S. economy. 

freefallThe Doc & Eric Dubin break down the latest cartel smash-down of the metals, discussing:

  • Is a crash to new lows imminent, or did we see the bottom Friday afternoon as gold broke below $1250 and silver below 18.70?
  • Retail demand EXPLODES– SDBullion saw largest single day sales volume EVER Friday as nearly 20,000 oz of physical silver were withdrawn from the market
  • Russia, Kazakhstan, & Belarus sign Eurasian Economic Union Agreement- accelerate plans to launch “gold” Altyn currency to replace the USD in trade! 
  • GOFO rates & options expiration- implications for the metals

 Full Coverage of the Latest PM Take-down is Below With This Week’s SD Metals & Markets!

big resetIt’s quite easy to understand why central banks would like to revalue gold to devalue the dollar at a certain stage of this reset.  The U.S.’s official gold reserves, which are still listed at 8,000 tons, are valued at the historical cost price of $42/oz. A revaluation toward $4,200/oz would grow the value of these gold reserves from the current $11 billion ($11B) to $1.1 trillion. Without such a revaluation, gold prices will have to rise as well given the structural deficits in the gold market. Worldwide gold production can’t keep up with the growing demand for physical gold. Recent figures by the World Gold Council show a deficit of 700 tonnes physical gold.
We have seen lots of manipulation of the gold price, similar to the 1960s when the London Gold Pool was keeping gold prices at $35/oz. Central bankers have done this for a number of years by selling large amounts of gold from the official reserves of Western central banks. We’ve seen another round of manipulation of the gold price in the last few years. This can’t go on for another 5 to 10 years.

gold currencyBitcoin is a remarkable piece of technology, something that has given me great hope about our future as a species.
Ripple does the same, but in its own way (one of the most exciting parts of Ripple is the ability to trade physically backed, deliverable precious metals). And for the “gold bugs” that like the idea of Bitcoin, but don’t like its lack of backing, well here you go.
We aren’t going back to gold coins in people’s pockets, nor should we ever want to. A state-backed gold currency would also be a mistake and a major step backwards. Ripple allows precious metals as money to be taken to a whole new level.

The Global Paradigm Shift is in full swing. The Global Currency Reset is near, better described as the Return of the Gold Standard. The Iran Nuclear Talks will proceed to conclusion, better described as the Petro-Dollar Surrender Talks with nuclear proliferation rider agreements.
The last chance is Gold & Silver, since what comes will be like a mighty storm. In its wake, the only wealth standing will be gold, silver, resource deposits (energy, minerals, water), and farmland. Time is running low for the many citizens of the United States and the other nations of the world to wake up and benefit from their own epiphanies.
It is very late, far past the eleventh hour.
The Global Currency Reset looms.

silver crashFormer World Bank Senior Counsel and whistleblower Karen Hudes has an amazing revelation about secret U.S. gold.
Hudes says, “We’ve been offered, the United States, 170,500 metric tons of gold on deposit in the bank of Hawaii to underpin our currency which is about to crash. The Federal Reserve Notes are unconstitutional, and we don’t have to pay interest on our debt, and we don’t have to have debt for that matter.
What does Hudes say to her skeptics that doubt her story of 170,500 tons of gold in Hawaii? Hudes says, “I say you are totally kept in the dark and that the mainstream media is controlled by this network of control that is totally documented by the Federal Institute of Technology. You really ought to chide yourself that you are deliberately kept in the dark. So, you shouldn’t be surprised that the world’s wealth is hidden from you when so much else is hidden from you.”

China-GoldChinese FX reserves expressed in US dollars have a total value of or $3.8 trillion at the end of December.  At least 34 % of these assets are denominated in US dollars in the form of US treasuries ($1.3 trillion). Only 1 % is held in physical gold according to the PBOC; 33.89 million ounces (1054 tons), worth $41.5 billion in December.
China is in the top ten in terms of gold holdings, but only holds a fraction of gold relative to its total FX reserves.
The bulk of China’s FX reserves are extremely vulnerable for a devaluation of the US dollar. At the same time a devaluation of the US dollar is imminent, as Yu Yongding, a prominent Chinese economist and former member of the monetary policy committee of the People’s Bank of China, has expressed in numerous presentations. This is why China has a strong incentive to hedge against the USD by increasing their official gold holdings.
The big problem for China has been buying large quantities of physical gold without increasing the price. For this reason China’s strategy has always been to be as secretive as possible about its gold purchases. They don’t disclose their gold import numbers, nor any interim changes in official gold holdings. They hide their dire hunger for the yellow metal to simply bargain a better price. But sometimes their craving to buy gold (without affecting the market) slips through the media: 


In this week’s SD Weekly Metals & Markets The Doc & Eric Dubin discuss:

  • Bitcoin surges past the price of gold- does the mania have room to run as Bitcoin gains traction globally as an alternative currency, or is an epic collapse imminent?
  • Gold & silver close above support at $1250 and $20- is the correction over?
  • Bitcoin’s success spurs the launch of a new electronic currency backed by gold- can e-gold piggyback on Bitcoin’s success and become a legitimate alternative currency?
  • The official denial is in: Venezuela denies gold sale to Goldman Sachs
  • Gold & silver wholesale supply update- premiums continuing to rise on ASEs, is a silver shortage looming in December?

The SD Weekly Metals & Markets With The Doc & Eric Dubin is below: