The US is Allowing CHINA to TAKE ALL ITS GOLD

Tuesday, May 19, 2015 16:51

Chris Powell – the co-founder of GATA – has been in the trenches exposing the corruption deeply embedded in our financial and political system. 

He believes that China is accumulating gold to hedge against their bad bet with the US government- that is, their large trove of Treasury dollars that have been monetarily debased by money printing (QE). 

In fact, he believes that there is actually an agreement between the US and China, that as long as we continue to give them all the gold they want out of our vaults, they will not dump our Treasuries. Doing that would cause our economy to collapse instantly. 

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There is already in place, a plan to revalue gold by 7 to 10 times. Gold is currently, approximately $1,200 per ounce;
 multiply that by 7 and you get $8,400 per ounce. 

Gold is the deadly threat to all governments, including the Chinese government.

Gold is a free market independent currency and puts all government currency at risk. 

Is China really working in the gold market for free markets and democracy and individual liberty around the world? 

No, I don’t think so.
China, I think, is mainly working to hedge it’s stupid U.S. dollar exposure.

 ~Chris Powell, Shadow of Truth
 

Because of this inherent nature in the use of gold as currency, gold stands as threat to a Government’s ability to dictate.

Whoever controls golds valuation controls the valuation of government currencies.

The cornerstone of democracy and true freedom begins with honest money. Gold stands alone a honest because it does not rely and counterparty risk and it can not be printed and devalued.

In an interview at the Daily Coin, Chris Powell says, “I don’t kid myself that China is working for the benefit of us goldbugs here in the West. I think China is working for power for the Chinese government. 

Now, does the Chinese government want a higher gold price or a lower gold price or does the Chinese government just want to control the gold price as much as Western governments want to control it for different reasons? 

In 1974 Kissinger and his Deputy Secretary Thomas Enders discussed how the United States must persuade the European countries to keep moving gold out of the world financial system because………….

 

There is MUCH more to the story. Read the rest of the story at GramsGold.com