Zero Hedge: ““They want to be on the top table in all areas of international trade and this is no different,” Sharps Pixley CEO told Bloomberg earlier this month, tying China’s move to participate in the twice-daily auction that determines London gold prices to Beijing’s efforts to embed the yuan more deeply in international investment and trade.
As a reminder, the auction has its roots in efforts to deter manipulation. Here’s what we said last month:
A long time ago, in a financial galaxy far, far away, a “fringe” blog raised the topic of gold market manipulation during the London AM fix. Several years later (which, incidentally, is about average in terms of the lag time between when something is actually going on and when the mainstream financial media finally figures it out and reports on it), it was revealed that in fact, shenanigans were likely afoot and indeed, regulators are still trying to sort out what happened. The ‘fix’ for the ‘fixed’ gold fix (only in the world of corrupt high finance is such a hilariously absurd passage possible) is supposedly a new system whereby the fixings are derived electronically.
Opinion: In the fiction chapter of our book Antichrist: The Search For Amalek, we noted that since 2011, China has been buying vast amounts of gold which was being manipulated lower by Central banks and now it is now becoming clear as to why.
Globalist governments and organizations they control via lobbies understand that for a world government to be established the US dollar must be removed as world reserve currency and with it lone superpower status.
But before that happens, in order to avoid a world-wide depression, a temporary alternative to the dollar would need to be established prior to a single currency.
Enter the SDR or Special Depository Receipts. In our post on April 27, 2015 we said this:
- A basket on currencies (money) defined and maintained by the International Monetary Fund (IMF)
- SDR is a currency created by the International Monetary Fund used for payments between countries
- The currencies chosen are reviewed by IMF every five years, the last review was 2010
- The SDR interest rate provides the basis for calculating the interest charged to borrowing members. Currently, SDRs include: US dollar, Euro, Pound Sterling and Japanese yen
China’s currency, renminbi, was rejected by the IMF in 2010 due to a lack of global liquidity. Since then China has been boosting gold reserves (with the help of central manipulation) to strengthen the case for inclusion in the SDR basket.
In April 20, 1015, a meeting in Washington hosted by the Official Monetary and Financial Institutions Forum (OMFIF) to discuss the future relationship, if any, of gold with the Special Drawing Rights (SDR).
The next review of the SDR is October 2015.
If renminbi and gold were to be included in the SDR, the nations whose currencies are in the basket would no longer be able to print money.
Over time the dollar, euro, and yen would necessarily be dropped – leaving a single currency, renminbi, along with gold in the basket.
Under normal conditions the US would simply block the Chinese, but these are not normal times:
- Full faith and credit of the dollar is deteriorating
- The US debt including unfunded liabilities is anywhere from 120-200 trillion dollars
- The number of nations joining the recent Asian Infrastructure International Bank (AIIB) was a huge embarrassment to the Obama administration and further weakened the dollar
The global economic chaos that would come from a crashing US dollar with an illiquid renminbi gold-backed reserve currency would logically lead to the creation of a cashless digital currency.
And a single currency is precisely what a leader of the revived Roman Empire would need in order to control buying and selling, Revelation 13:15-16.