Sgt Report – by MRH China has mined approximately 8% more gold in the first eight months of 2013 than in all of 2012. So far this year China has mined 270.167 tons of the yellow monetary metal. In July alone China dug up an amazing 39.367 tons (annualized that equals 472.404 TONS). Where is it all going? Well, we know from Koos Jansen and Jan Skoyles outstanding work that most, if not all of it is going through the Shanghai Gold Exchange and into one of two vaults; either the vault at the People’s Bank of China or private individuals vaults in China. Not one gram is leaving the country.
How can I say this with such confidence? Well, let’s look at the numbers. So far this year China hasimported 598 tons from Switzerland alone! This does not count any of the gold they have siphoned out of the Comex during the almost daily beat-downs in the paper gold market. This does not count any gold the Chinese may be importing through India’s gold black-market or through individual agents that are scattered around the globe to purchase gold for the PBOC.
If you just add what is listed above we are talking about over 1,000 tons of gold going directly to China and we still have nearly three months of accounting before the year is up.
What is the plan for all the gold that China is acquiring? How many tons is enough? These questions are difficult to answer at this point. We do know that China seeks to “de-Americanize the world“, because they’ve said so. Does that mean an end to the US Dollar as the world’s reserve currency? One would have to believe that is part of the overall objective. We know the Chinese are working very closely with Russia, which is also mining as much gold as possible, and keeping every gram in and FOR Russia. And the Russians are a little more forth coming about their golden dreams than the Chinese are. The Russians are quite open about their gold holdings and the sources from which their PHYSICAL gold originates; be it from the global market or from internal mining.
China and Russia are by far the largest economies of the five BRICS nations. The BRICS have beendiscussing for at least a year now, how to create a “work-around” regarding the US Dollar. The Chinese have been quiet successful in creating more than 25 direct currency swap lines with some of the largest economies on the planet: Japan, Australia, Brazil, most, if not all of, South East Asia and most recently a three year open line with the United Kingdom. Is this the ground work for a BRICS basket of currenciesas the NEW world reserve currency? Or will it be the Chinese Yuan as the new world reserve currency? We still hear musings that it will be a product of the criminal-cartel-controlled IMF or Bank of International Settlements whose SDR’s are already in play.
Only time will tell how this will all play out as the Chinese will most certainly continue playing their hand close to the vest. But one thing is certain: The end of our easy, ever-expanding debt way of life here in the United States will soon be over as the US Dollar takes it’s place in the dustbin of fiat currencies history.
Please, prepare.
http://sgtreport.com/2013/10/china-gold-the-new-world-reserve-currency/#more-227877
gold or tungsten which is it these days??