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Prospects for Gold II - Hugo Salinas Price - Plata.com

The devaluations of the yuan and the dollar will be against gold, not everything. It is really a revaluation of gold, not a devaluation of currency. In the deal China is rolling out, as you describe it, China accounts for this in that the gold purchases will be on the open market at the freely floating price of gold. This is the critical difference between gold and currency. Gold's value in real terms is fairly stable, but its price in currency can be anything that works. As the Chinese plan rolls out, the price will skyrocket as you describe. This will likely kill the paper market for gold since contracts won't be able to deliver physical. The market will lock, and everybody will be cashed out.

What this Chinese plan will do is force the whole world to Price gold at its real Value. The paper game will end.

FOFOA explains it way better: http://fofoa.blogspot.com/

Commented 2396 days ago

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Beginning of the headline :In my previous article, "My Views Regarding Prospects for Gold", published on September 21, I addressed the consequences of the Chinese scheme "to be launched formally by the end of the year, by means of which exporters of oil to China will accept the Chinese currency, the Yuan, in payment for oil; for this deal, the Chinese have added an incentive: the Yuan received by the oil exporters will be exchangeable for gold. This gold will be "sourced", i.e. "purchased" outside of China, for the oil ex... Read More

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