Countries Are Stockpiling Gold to Prepare for the Death of Fiat Money
- Countries Are Stockpiling Gold to Prepare for the Death of Fiat Money
by http://www.caseyresearch.com/
Currencies die more often than most people realize. There have been more than 20 hyperinflations in the last hundred years.
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It shouldn’t surprise anyone that bad things happen when politicians have the power to create infinite money. What’s amazing is that many still trust them to create just enough money for the good of the people, but not a penny more.
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Jeff Thomas points out that some countries are finally realizing that it’s just a matter of time until all fiat currencies die. They’re quietly buying gold, so they’ll own something of real value when the world realizes that paper is worthless.
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One problem: no one knows who has all the gold. The answer is critical, because it could tell us which countries will recover first when the present system crashes. Jeff says:
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Whoever holds the most gold will hold the most real wealth and, by extension, gain the most prominent seat at the bargaining table for decades to come.
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China Continues to Add to Its Massive Gold Reserves
China has an insatiable appetite for gold. That’s nothing new. Analyst Laurynas Vegas has been watching gold flow steadily from Western countries to Eastern countries for years now.
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No one knows for sure how much gold the Chinese government has stockpiled. But Laurynas suspects it’s a lot more than they’ve been letting on. Shanghai Gold Exchange physical delivery figures are rising… fast.
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There’s good reason for the secrecy. China has been working to position its currency, the renminbi, as a competitor to the US dollar. A gold-backed renminbi would gain immediate credibility as a potential reserve currency… maybe even more credibility than the backed-by-nothing US dollar.
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