- Russia Proposes New Standard To Compete With RIGGED London Bullion Market Association (LBMA)
by CAPITALIST EXPLOITS, https://www.zerohedge.com/
A NEW FINANCIAL INFRASTRUCTURE
I’ve just finished a report on this (if you are a Capitalist Exploits subscriber then it will be in your hands shortly), but I’ll touch on this here.
Russia proposes a new international standard for trading in precious metals: the Moscow World Standard (MWS) which will become an alternative to the London Bullion Market Association (LBMA) which systematically manipulates precious metals markets to depress prices. According to Russia’s Finance Ministry, this new, independent international structure is necessary for “normalizing the functioning of the precious metals sector” and its creation is “critically important.”
“The basis of this new structure will be a new, specialized international precious metals brokerage headquartered in Moscow, which will rely on the MWS. Also proposed is a committee for fixing precious metals prices composed of central banks and largest banks of countries that are members of the Eurasian Economic Union (Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia) that currently have a presence on the precious metals market.
According to the Russian Finance Ministry, precious metals prices will be fixed either in the national currencies of key member-countries or using new monetary units used in international trade—for instance, the new BRICS currency proposed by Putin.
The Finance Ministry wants to make membership in this organization attractive to all market participants, especially China, India, Venezuela, Peru and other South American countries, as well as Africa. It aims to swiftly destroy the monopoly of LBMA and to provide for stable development of the precious metals sector.
In essence, Russia proposes to create a market for gold, platinum, etc., which will be regulated by countries that control the resources for these metals. This would be, simply put, a revolution. On the basis of this new market, it intends to further the system of bilateral trade in national currencies that specifically excludes dollars, euros and pounds.