There are some serious heavy-weight challenges to the Bretton-Woods economic stranglehold on the world that are happening right now. A lot of events are percolating up right now…that should lead to a more equitable use of the world’s resources now. – Jeff Brown in Beijing on the Shadow of Truth
China has been aggressively accumulating physical gold for a long time. Anyone with any modicum of knowledge about the global precious metals market dismisses China’s publicly released 1,778 tonnes gold holdings report as readily as they dismiss the United States’ published gold ownership holdings.
Perhaps the most credible estimate of China’s gold holdings is based on research by Alasdair Macleod. His research shows that China has been stockpiling gold at its Central Bank for a far greater period of time than is commonly assumed. Further, he suggests that China holds at least 25,000 tonnes – LINK.
On Tuesday China will begin to price gold on its Shanghai Gold Exchange in yuan. While no one knows if this will have an immediate affect on the ability of western banks to continue their inexorable manipulation of the gold market, it is likely another methodical move by China toward re-introducing gold back into the global monetary system.
The West, especially the United States’ neocon-controlled Deep State, is facing a global reset that is being engineered by China and Russia that is going to nullify the west’s Bretton Woods-based control of the global financial system.
Several other important building blocks for this reset have been or are about to be put in place. The establishment of the BRICS’ New Development Bank, which will open for business this month, is seen as an alternative to the IMF. The Asia Infrastructure Investment Bank, which recently issued a $750 billion yuan-denominated bond, is funding alternative to the World Bank.
Most important is the imminent introduction by China and Russia of a trade settlement system (CIPS) that will enable participants to by-pass the west’s SWIFT system and to settle their trade transactions without using the dollar.
The Shadow of Truth hosted Jeff Brown, author of the China Rising website. Jeff has been living in Beijing for several years and offers us a view of China that is not distorted by the heavily manipulated United States’ propaganda-infested news apparatus.
Good interview. My tax day piece