China Launching Gold Backed Global Currency

Discussion in 'Tin Foil Hat Lounge' started by Quigley_Sharps, Mar 3, 2015.

  1. Quigley_Sharps

    Quigley_Sharps The Badministrator Administrator Founding Member

    According to the article, China is recasting all of their gold reserves into small one kilo bars in order to issue a new “gold-backed” currency. Many say this will disrupt global trade and will eventually cause a collapse of the US dollar.

    There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new ‘gold backed’ global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the ‘bums rush’ by the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.

    Here is an excerpt from Jim Willie’s ‘Hat Trick Letter’

    Jims recent article starts out with…

    Many are the events, signals, and telltale clues of a real live actual systemic failure in progress. Until the last several months, such banter was dismissed by the soldiers in the financial arena. But lately, they cannot dismiss the onslaught of evidence, a veritable plethora of ugly symptoms of conditions gone terribly wrong and solutions at best gone awry and at worst never intended in the first place.


    China is well along an ambitious plan to recast large gold bars into smaller 1-kg bars on a massive scale. A major event is brewing that will disrupt global trade and assuredly the global banking system. The big gold recast project points to the Chinese preparing for a new system of trade settlement. In the process they must be constructing a foundation for a possible new monetary system based in gold that supports the trade payments. Initally used for trade, it will later be used in banking. The USTBond will be shucked aside. Regard the Chinese project as preliminary to a collapse in the debt-based USDollar system. The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms. The larger Good Delivery bars are being reduced into 1-kg bars and stored in China. It is not clear whether the recast project is being done entirely in China, as some indication has come that Swiss foundries might be involved, since they have so much experience and capacity
    Tully Mars, stg58 and Yard Dart like this.
  2. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Please let this be true.
    VisuTrac likes this.
  3. Yard Dart

    Yard Dart Vigilant Monkey Moderator

    Interesting for sure.
    Tully Mars likes this.
  4. 3M-TA3

    3M-TA3 Cold Wet Monkey

    Hey, I'll trust China that the gold is real... though imaginary Chinese gold is possibly more real than the trillions of quantatively eased dollars...

    My "gold" is in gold, silver, brass, copper, and lead
    Tully Mars, stg58 and Dunerunner like this.
  5. Yard Dart

    Yard Dart Vigilant Monkey Moderator

    gold plated lead.... nah, they would never do such a thing. [sarc2]
    Tully Mars, stg58 and Dunerunner like this.
  6. 3M-TA3

    3M-TA3 Cold Wet Monkey

    China would never cheat - that's how I know all those China made Cisco knockoff routers my govt agency bought years ago were only set up to snoop on us by accident (true story, but that's all I'll say).
  7. Dunerunner

    Dunerunner Brewery Monkey Moderator

    OK, Gold made in China. Irradiated, contaminated with pesticides, and industrial waste, and most likely unverifiable assets they want everyone to believe exists. If not, we buy their currency with US dollars and redeem it for physical gold. They get our dollars, we get their gold. I like that idea!! :D
  8. Falcon15

    Falcon15 Falco Peregrinus

    VisuTrac likes this.
  9. stg58

    stg58 Monkey+++ Founding Member

    I for one trust the Chinese....[lolol]

    300 Fake Perth Mint Gold Bars Discovered in Australia As Chinese Gold 'Forgery Factory' Uncovered |

    300 Fake Perth Mint Gold Bars Discovered in Australia As Chinese Gold ‘Forgery Factory’ Uncovered
    Less than a month ago news broke that 10 PAMP gold bars filled with tungsten had been discovered in Manhattan. An SD reader then discovered a Chinese firm openly promoting the sale and production of tungsten filled gold bars and coins.
    The tungsten filled gold scandal has just gotten exponentially larger, as an Australian Seven News investigation discovered 300 fake Perth Mint gold bars and uncovered a Chinese gold ‘forgery factory’.

    The investigators were able to purchase 300 Chinese sourced 1oz gold bars for a total of $300- and to no one’s surprise, when the investigators melted down the bars, all 300 were discovered to contain roughly the same gold content as Fort Knox.

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  10. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    China was purported to be doing the identical same thing back in 3Q 2012.
    Imma gonna say, I'll believe it when I see it.

    That said, I believe that the gold back currency was not for general public consumption, but rather for trade for the nation state (but it probably includes large corp entities). It's not like the populace will be running around with gold backed domestic yuan.

    Now if the mfg's in china would only accept gold as payment and not USD .. well we'd be effed.

    I guess time will tell how long the dollar remains the reserve currency. But if I had to bet, I'm going to say as long as our military can enforce the dollars' supremacy.
    Falcon15 and 3M-TA3 like this.
  11. Cruisin Sloth

    Cruisin Sloth Special & Slow

    Im say wrong backing !! VT

    USA is not going to try USSR/Russia & China plus who else have you peed on ?? See the list of country's who are in the gold backing ?
    Notice the ones who are bankrupt & dependent in Europe / free world .
    England's bankers will decide our fate ,Again!!!
    Last edited: Mar 4, 2015
  12. TXKajun

    TXKajun Monkey+++

    Stg, you beat me to posting about China making bogus gold products. Nope, wouldn't trust them.

  13. Ganado

    Ganado Monkey+++

    well you guys can make fun of this post all you want.... but there is a financial change happening the decline of the petro dollar, implementation of with Basel III in banking and the new Asian Infrastructure Bank that the US Congress did not authorize the USA to participate in. When all oil is no longer traded in USD, then you can expect more anger and uprising in the USA as the price to even eat has doubled and trippled. We will be paying the price as individuals within next 12 months.
    Before you get sarcastic on me... please go read this article at least twice so you understand what is happening. The world economy is changing before our eyes and we arent even aware of it

    Preparing for the Collapse of the Petrodollar System |
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  14. Kingfish

    Kingfish Self Reliant

    I am aware of it. Watching it every day.
    Brokor, pearlselby and Ganado like this.
  15. -06

    -06 Monkey+++

    Likewise, China has been buying lots of gold for several years. When the time is right they will simply say--pay me in gold, not your worthless paper. When that happens the bottom will fall out completely. Not only are we 20 Trillion in debt but we owe China scads of money on the "balance of trade"--been quite a while since you heard that phrase. Reason is because it is overwhelmingly one sided. Time is rapidly approaching when we will have to pay the piper--in gold--which we do not have.
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  16. pearlselby

    pearlselby Monkey++

    Good to see you Kingfish. I used to see you on the outlaws site.
    Kingfish likes this.
  17. Kingfish

    Kingfish Self Reliant

    Hello Pearlselby, Yea I was over there(Outlaws and Outcasts) got in an argument with Jimmy and told him to go fork himself. He wanted debate then attacked anyone who disagreed with him. Too bad about his temper there were lots of good men there. Im not active anymore in the Militia. Just surviving now. Good to see you as well. KF
    pearlselby likes this.
  18. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    Oh, many of us are aware, some more than others. I suppose a few may not know much, and there are always the lurkers...

    The problem is, there's not much we can do about it besides raise awareness and hope for the best. I once belonged to the We the People Foundation, and we had the largest class-action lawsuit in history against the privately owned IRS. Long story short, what ended up happening is quite troubling. The judge pretty much said, "F*%K YOU" and changed the "law" on the fly, and the IRS doesn't have to answer questions and can pretty much dictate who is liable to pay their income tax. So, if we cannot fight this legally within the system, then all we can really do is talk about it. We all should know about the continuous effort to audit the privately owned Federal Reserve -that situation is not picking up any steam, either. When it all comes down to it, we can say we have a privately run corporate oligarchy answerable to NOBODY, and the economy is mostly just HOT AIR. Foreign nations have been suckered into buying OUR DEBT, and eventually, the curtain is gonna fall. The audience is gonna be very upset when they get the punchline.
  19. Kingfish

    Kingfish Self Reliant

    If I had to predict which problem was going to hit us first it would be monetary. It is weak and failing and with the huge debt someone somewhere is going to start a chain reaction which crashes the system and with it our ability to buy anything. I would hope when this happens all bills will be frozen until another currency is installed. Im not quite sure how it will play out. My family has always pursued a course towards self reliance. Can we live off our preps ? for how long? can we survive when the stored goods run out? for how long? those were questions we answered years ago before 2012. My wife and I have been ready for almost 10 years now but really made strides in the last 5 years to be a bit more comfortable. Many of my neighbors will also be alright for at least a year. I don't expect any monetary problem to last longer than a few months. However there is the possibility of war at this time. If anyone were to try and take us out we would be most vulnerable during a financial crash. Prepare my friends. Prepare.
    pearlselby likes this.
  20. DarkLight

    DarkLight Live Long and Prosper - On Hiatus

    And if that hits, the crash is going to be fast and furious and devastating.
    pearlselby, Yard Dart and Ganado like this.
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