Monday, May 25, 2015

China to Back Banks with Gold?

Putin's adult supervision kept out of war in Syria and the Ukraine, Kerry is trying to negotiate our way out of the dangerous squabble with Iran.  Our allies crumble in the face of ISIS (boy, we can pick 'em!) In the meantime, China is wasting no time -
Today we got a glimpse of what could be a global game changer, China is planning to launch “a 100 billion yuan fund led by the SGE, …which will in turn facilitate gold purchase for the central banks of member states to increase their holdings of the precious metal. This was just published by news outlet Xinhua in China mainland. Xinhua also published an important article in late 2013 in which it said, “it’s perhaps a good time for the befuddled world to start considering building a de-Americanized world… a self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas, instigating regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies… As a result, the world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites”. It’s being thought these articles are written indirectly by the Chinese government. 
We cannot recover our hegemony after now, but we can reject isolationism of the neo-con adventurers and re-integrate on an organix level worldwide.  Although it is important for banks to have gold backing, note USA does not, it not important for individuals to hold gold or silver.  We need only freely extend credit within a asset-backed usury-free credit comity.

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