Is the US Dollar’s Global Reserve Currency Status About to Come to a Sudden and DRAMATIC END??
The Russians came up with an extraordinary statement recently, central to why Russia and China are buying gold, the importance of which was missed by the media.
President Putin said that “Russia and China need to secure their gold and foreign reserves.” He may have been overstepping the mark in making comments about China’s monetary policy, but he was unlikely to have done so without good reason.
Furthermore it is impossible to secure foreign currency reserves, because they are at all times under the control of the issuing central banks.
So what Putin was actually implying was that China and Russia need to secure their gold.
The signs are as clear as daylight:
It amounts to an Asian gold strategy that excludes the west, and by suppressing the gold price through sales and leasing of monetary gold western central banks have unwittingly enabled China’s carefully thought-out plans.
How and when will western central banks break the news to us all, that the bulk of the gold reserves entrusted to them are now in Asian hands, and they have been secretly complicit since the 1970s in setting up a whole continent with what amounts to the largest wealth transfer in history?
In this MUST LISTEN interview with TruNews, Jim Willie explains why the Federal Reserve’s policy of zero interest rates and indefinite quantitative easing will eventually result in the dollar being cut off from world trade, a major power shift to the East, and mass social unrest in the United States.
The Golden Jackass’ thoughts on the coming shock of global dollar rejection and the end of the petro-dollar are below:
Legendary gold trader Jim Sinclair has sent an email alert to subscribers today regarding last night’s news that Germany will begin repatriating it’s gold held on deposit at the NY Fed back to the Bundesbank, as well as all 374 tons held at the Bank of France.
Sinclair states that history will look back on this salvo fired across US war financing as being the beginning of the end of the US dollar as the reserve currency of choice, and that under normal circumstances, no major central bank would insult another major central bank in the way that the Bundesbank just has.
Sinclair states that the Bundesbank repatriating its gold reserves is the most significant event in the gold market since Charles De Gaulle called the US hand that it would stand by convertibility, and that gold is headed to $2111 in the near future in the wake of the Bundesbank’s actions.
Sinclair’s full MUST READ alert below: