- China And Russia Look To Take Over Global Gold Trading
by Dave Kranzler, http://investmentresearchdynamics.com/
BRICS countries are large economies with large reserves of gold and an impressive volume of production and consumption of this precious metal. In China, the gold trade is conducted in Shanghai, in Russia it is in Moscow. Our idea is to create a link between the two cities in order to increase trade between the two markets,” First Deputy Governor of the Russian Central Bank Sergey Shvetsov told TASS – RT.com, April 19
The article in RT.com from which the above quote is sourced surprisingly did not receive a lot of attention from the alternative media. Perhaps it was overshadowed by the highly anticipated move by China to commence fixing the price of gold on the Shanghai Gold Exchange in yuan. I suggested that we would not see an immediate impact on the price of gold, which we have not, but that the move was part of a larger plan by China to “de-dollarize” the world.
Also largely ignored by the alternative media was the fact that Russia added another 500,000 ounces of gold to its Central Bank reserves – data provided by Smaulgld.com. To put this into some context, currently the Comex, which is sporting over 50 million ounces of paper gold open interest, is reporting 643k ounces of gold designated as available for delivery (“registered”). In 2015, Russia added a record amount of gold tonnage to its Central Bank stash.
I would argue, as would many, that China and Russia are strategically and methodically weaning the world off paper gold and fiat currencies and are looking to officially remove the dollar from its reserve status and to re-introduce gold into the global monetary system – without triggering WW3. Of course, this would explain the Obama Government’s recent military belligerence toward both countries…