By James G. Rickards The Daily Reckoning, Baltimore, Maryland Thursday, May 24, 2018
A major blind spot in U.S. strategic economic doctrine is the increasing use of physical gold by China, Russia, Iran, Turkey, and others both to avoid the impact of U.S. sanctions and create an offensive counterweight to U.S. dominance of dollar payment systems.
This is the Axis of Gold.
This gold-based payments system will dilute and ultimately eliminate the impact of U.S. dollar-based sanctions.
Gold flows cannot be interdicted at SWIFT, the international payment system. Gold is fungible and non-traceable (it is an element, Atomic Number 79), so its origin cannot be ascertained.
We have a lot of data to support the claim that the Axis of Gold exists and is gaining strength. ...
... For the remainder of the report:
https://dailyreckoning.com/axis-gold-will-dri...igher-end-2018/ * * *
