Russia and China ‘Furiously’ Buying Up Gold As “a Global Currency Crisis

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    Tony Koretz
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    Russia and China ‘Furiously’ Buying Up Gold As “a Global Currency Crisis – Albeit Unstated – is Underway”

    A larger global currency shift is underway…

    And it may be happening much more quickly than anyone has realized.

    Things are definitely in motion. Call it a game of musical chairs, or an exercise in rearranging chairs on the Titanic, or just that a tilting balance of power. Just don’t make the mistake of thinking this is all routine.

    As Michael Snyder just reported:

    The absolutely stunning decision by the Swiss National Bank to decouple from the euro has triggered billions of dollars worth of losses all over the globe.

    […]

    And these are just the losses that we know about so far. It will be many months before the full scope of the financial devastation caused by the Swiss National Bank is fully revealed. But of course the same thing could be said about the crash in the price of oil that we have witnessed in recent weeks. These two “black swan events” have set financial dominoes in motion all over the globe. At this point we can only guess how bad the financial devastation will ultimately be.

    The key to understanding how the hammer will fall may lie in: gold.

    In the material world that governs politics and economics, there has always been one golden rule: he who has the gold makes the rules.

    Put China at the top of the next generation of rule makers, then.

    China has been quietly stockpiling gold for years now. In fact, it is stockpiling so much gold that many have speculated that it may be building a gold-backed yuan currency that would make the Dollar pale in comparison on the global market.

    Bottom line: no one knows just exactly how much gold China has amassed:

    Buying surreptitiously allows Beijing to buy bullion at bargain prices; if the world knew how much gold China was really amassing, a run on gold the likes of which the globe has never seen would likely ensue. “We believe China is controlling the gold price because it is buying in such a way so as not to push prices up.” That’s the opinion of respected precious-metals analyst Julian Phillips of The Gold Forecaster, along with a host of other informed sources.

    It is widely believed that China has accumulated larger – possibly much larger – reserves since.

    READ MORE http://heartlandpreciousmetals.com/russia-and-china-furiously-buying-up-gold-as-a-global-currency-crisis-albeit-unstated-is-underway/

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