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How Long Before China or Russia Back Their Currency With Gold?

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Published : February 07th, 2019
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Category : Gold and Silver

At this point the only question that remains is when the currency transition will take place. Most people that have been following the gold, silver market are well aware that gold is going to be used, in one form or another, in the currency market. How it will work, what it means to the currency in your banking account and will it create a black market where money (gold) is used as currency?

Tom Cloud is asking the questions, today, that we have been pointing out for the past 5-6 years. Why is China, Russia and several other nations acquiring all this gold? It’s not for jewelry, trinkets or, as they have proven, to make coins for the retail market. Why are they acquiring gold – one reason, gold backed currency or to force the IMF to back the SDR with gold. This is what we have been saying, and will continue to say, right up until it happens. The only question that remains will be the effect on the people. What impact will this coming move have on the gold coins in the average Joe, Wang Chung or Vlad’s vault?

If someone still believes this fantasy of a ponzi scheme economy can continue in it’s current form much longer, those people are living in a fantasy world that I would rather not live. The manipulation that is policy, Quantitative Easing (money printing), has run it’s course. The current system can not handle higher interest rates as witnessed at the Federal Reserve’s recent meeting when the Chairman stood down after stating there would be another rise in interest rates. Interest rates were did not move and the game is coming to it’s conclusion. Are you prepared; do you have food, water, security and insurance in place? If not you may want to reconsider that position.

How long will it take? We don’t know, but Mr. Cloud seems to think sometime during President Trump’s term. Mr. Cloud is not the only person that believes our currency system will change under Bankruptcy King Trump. That gives us fewer than 5 years – 2 for the current term and 3 for coming re-election. This would hit the time lines we have been calling for over the past 1.5 years – 2021-2023 – everything will change.

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Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few.
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