We hold 8,000+ tons of gold, are in trade & currency wars, and have designated China a currency manipulator, however…
Editor’s Note: Beginning on Monday, October 14th, the People’s Bank of China will control the price of some “financially settled” COMEX gold futures contracts priced in renminbi:
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Something doesn’t add up! We’re in a trade war with China, We’ve designated China a “currency manipulator”, the US govt holds gold as a monetary reserve, but yuan denominated gold futures contracts begin trading on Monday on COMEX? Let’s try to make some sense of what’s really going on…
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Bonus pic and content (link to the Tweet):
Isn’t that interesting?
Considering, well, this:
- Weren’t we supposed to be in a trade war with China?
- Hasn’t the Treasury Department of the United States officially designated China as a “currency manipulator”?
- Doesn’t the US Treasury hold gold on its books as official monetary reserves?
In addition to the fact that the yuan futures contracts are not settled with physical, but rather, “settled financially”, on top of the fact that“central bank trading discounts” are given to foreign central banks to trade gold & silver futures contracts on the COMEX.
Yet there’s no problem with China coming in to the paper gold market?
Half of the country was already sold down the river by Obama.
The other half is being sold down the river by Trump.
The sad part is, the Red Hats think it’s a cruise.
Just like European train rides in the 1940s.
This ain’t gonna be no dang vacation!
It’s going to be economic misery.
It will be financial ruin too.
USA gets it the worst.
And why is that?
It’s too easy.
– Half Dollar
About the Co-Host
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.
About the Co-Host
Mike Manwell is the founder of RethinkingTheDollar.com, an alternative media news website focused on improving the monetary education for millennials. Mike is committed to helping others understand the importance of precious metals as a hedge against the inflationary threat of fiat currencies.