Guest Post – SGT Report: China, Gold And Bloomberg Disinformation

There is a great monetary reset coming. There is a day of reckoning on the horizon for the tsunami of fiat which has flooded the planet. There will be a revaluation of the gold (and silver) price that will revalue the precious metal at a price far higher than the manipulated price we see today.  – SGT Report

An entity called “Bloomberg Intelligence” published an article which asserted that the price of gold would need to be $64,000/oz in order for China to back its currency with gold. Unfortunately, the article lacks any meaningful depth of intelligent analysis.  Additionally, there is a glaring absence of documented assertions and reference-base facts to support the article’s thesis.

The SGT Report has saved me the time of slashing and burning this poor excuse for journalism:

We’re not sure who ‘Bloomberg Intelligence’ is or from where they are gathering this “intelligence”, but it would be helpful if they dealt with some of the commonly known facts about China’s gold hoard which we cover daily here at SGT Report.

When Larkin and Van Der Walt claim “A traditional gold standard, in which the precious metal backs the currency, is basically impossible at current prices due to the amount of metal needed“, one wonders what in the world they are trying to say. Are they referring to the total amount of Dollars in circulation worldwide? Are they referring to the total fiat money quantity (FMQ) which we have discussed at length with Gold Money’s Alasdair Macleod? Regardless, a $64,000 per ounce gold price itself would be the direct result of re-pricing the oceans of fiat in circulation to the relatively tiny amount of physical gold.

Once again we see obfuscation of the facts from the mainstream mockingbird financial publication Bloomberg.

First, the authors claim that 10,000 tons of gold is NINE TIMES more than China’s “official holdings”. While that may be true, certainly Larkin and Van Der Walt are aware that China now likely holds far more gold than its officially reported total of 1,054 tons. In fact, unless Larkin and Van Der Walt are entirely incompetent imbeciles, they must be aware that even the mainstream mockingbirds at Market Watch are reporting that China is about to come clean about how much gold it really owns.

You can read the rest of SGT’s analysis here:  Bloomberg, China and $64,000 Gold

 

 

8 thoughts on “Guest Post – SGT Report: China, Gold And Bloomberg Disinformation

  1. In fact there are several ways to calculate the gold price

    There was approximately $1.36 trillion in circulation as of April 29, 2015, of which $1.32 trillion was in Federal Reserve notes.
    Basically the dollar had been defined as 371 4/16 grain (24.1 g) pure or 416 grain (27.0 g) standard silver.

    If all confidence in paper values is lost (the worst case scenario) only metals and metal coins will be left as a source of value. The metals and some other collaterals will be considered as the only remaining currency for barter trading.

  2. Ya right. China is going to become more transparent about their Gold hoard. Just like the Fed. With the USA holding a 16.5% veto at the IMF, what chance that China is going to be allowed into the Club ? But you could see how they could force the issue. If allowed into the Club they could be seen as the largest holder of precious metals. Thus a game changer. If denied access to the Club, they back a Gold backed Yuan Bond and go and move forward with the AIIB, SCO, BRICS and pull the plug on the dollar. What I fear the most is something I know Dave fears as well. On another site I heard a guest say, and I quote ( not my words ): ” You don’t think we’re going to allow the Chinks to take what we’ve spent 500 years building do you ” ????

    1. LOL – I agree. But I think most of us know whatever China reports will be a carefully managed and intentional number

  3. Dave, re today’s sudden rise in silver of almost one percent to 17.30+, and then the freakish monkey-hammer smack down of almost two percent down to 16.99 almost exactly when the COMEX opened…

    …all I can say is:

    1. I’m glad that MOST of my wealth is in PHYSICAL silver and gold, immune from the HFT/algo monkeys’ day-trading hammers.

    2. BUT, although 99 percent of my wealth is in PHYSICAL gold and silver, NONETHELESS, I wish THIS upon Jamie Dimon! In particular what Mark Antony said to the slumlord bankster Cicero (who was far more intelligent and cultured than Jamie Dimon, but nonetheless was a treasonous counterfeiter and thief like Jamie Dimon) from 3:30 to 3:55, here:

  4. One more for Jamie Dimon, if not in prison as he deserves in this life, then in Hell in the next – because in Hell, everyone shares Jamie Dimon’s values, of saying “might makes right”, like Satan who says “I’m like God IF I SAY I AM!”

    (In other words – seriously! – fiat currency and fiat values, which come from the belief that “might makes right”, are literally Satanic. The belief that POWER changes essenential realities, is a lie, from the Father of Lies, in Hell. Where Jamie Dimon is going if he doesn’t repent, which is extremely unlikely at the rate he’s going.)

  5. An outright reset would rip the world apart. Doesn’t seem feasible or to anyone’s advantage, even China’s. I think we need to have a shift in the gold price, myself, but a market oriented approach would be much wiser, IMO. I noticed from the recent news that the use of gold as a market currency may help such a change

  6. Oh f-ck it, I’m ready to close the thousand dollars – a token fraction of my net worth that I’ve been gambling with – that I’ve bet and today have lost some drinking money on, on paper silver.

    …But wait! What’s happening now? After a few hours ago when PAPER silver was monkey-hammered down to 16.99?…

    …now it’s up again, back to 17.13.

    And so, perhaps, I MIGHT be able to scalp a few hundred dollars from paper silver, in the next few days or weeks – from my little, leveraged gamble of just one thousand dollars, leveraged by a margin of merely five percent (as we’re allowed to do down here in Oz)…

    …and now I see it’s going up again. OH, but WHAT, WHAT SHALL WE DO? If Janet Yellen says something that the algorithms DON’T LIKE?

    If and when that happens, THEN, we shall all – and I do mean all over the world – THEN we shall all do THIS!:

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