Financial experts have been waiting for the report from China on how much gold the country has. It came out this week. The Peoples Bank of China is allegedly owns 1,658 tons of gold. Not only that, but they claim to have acquired only 600 tons of gold and all in the month of June this year.
The report is a traditional act of deception of the Lao Tsu type.
Why the deception? The Chinese Yuan is up for inclusion in the basket of currencies the IMF is considering as the Reserve Currency of the world. The Chinese want to alleviate fears that they will control the world's finances.
Gold experts on KWN tell us that China's other banks own thousands of tons of gold which is not reported as owned by the PBOC. How much? Well, between 15,000 and 30,000 tons.Thus, the Chinese are positioning themselves to gain a tremendous lot once gold is revalued. What will the final price of gold be after revaluation? We can not know for sure, but people talk about between $5,000 to $50,000/oz, the $5,000 value is Larry's.
Revaluation of the price of gold will complete the transfer of wealth from the West to the East. Remember that manufacturing has already been transferred.
The Left feels content because they believe that America has grown rich at the expense of the world, so transferring that wealth to China is just fair.
Sunday, July 19, 2015
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