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The Recusant
Member since May 2012
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has posted a comment on the article :
>This is how China moves the world to a gold standard! - Andy Hoffman - Miles Franklin
I question why "I too did not believe China would desire or even accept the responsibility of reserve currency status." Taking on that role enables a country enormous potentials for wealth and global economic control. And every country thinks they can do it better than the previous King of Currencies. The US supplanted Great Britain, who had taken over from Spain, who had...etc. Whether China will succeed in controlling the world's flow of wealth is unlikely. Greed and corruption soon spoil the best planned recipes.

They've managed to buy gold low and will drive the price right through the roof before it is all over for the USD. All the paper gold will be worthless while those poor languishing miner stocks and physical precious metal companies will skyrocket. The Big Banks will fail when COMEX papers come due bringing about the default of the USD. Got gold? 'Cause it'll be the salvation for many.


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2396 days ago
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Beginning of the headline :We have watched for years as China grew in strength economically, financially and militarily. They have pre positioned themselves by making trade deals, setting up credit facilities and even an alternative clearing system to the West’s “SWIFT”. We also know China has been gobbling up global mine supply of gold for going on 10 years now. As I’ve written in the past, just using the back of a napkin, it can be surmised they now have hoarded 20,000 tons or more compared to the “supposed” 8,133 tons ... Read More
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