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rjs2248
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China Is Laying The Foundation For The Next World Gold Standard System

- Nathan Lewis - New World Economics

Well, it is about time there is global economic reform. The IMF is a US created NGO satellite who will ignore attempts by SDR members to have Gold backing any financial system. That would give non-US countries too much freedom and self regulation.

Commented 2901 days ago

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Beginning of the headline :On April 19, the Shanghai Gold Fix officially began. The pricing mechanism is intended to be a replacement for the London Gold Fix, the primary price-discovery mechanism for gold bullion today. The London “bullion” market is not a market in bullion. Rather, it is a market in “unallocated” gold, defined as an unsecured liability of banks. In short, it looks suspiciously like an exercise in paper-hanging. The London Bullion Market Association claimed 21.95 million ounces of “net” clearing per day... Read More

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