Here is What Will Send the Price of Gold Soaring

 https://smartknowledgeu.com/blog/2017/china-and-gold/heres-

what-will-send-the-price-of-gold-and-silver-soaring/

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China has been accumulating a lot of gold over the past decade. It is certain that their “official” reported gold reserve data grossly underreports reality. Furthermore, no one with any sense believes their “officially” reported reserve numbers, especially since I had been blogging for years that their official gold reserve data was nonsense. The Chinese government themselves substantiated my claim in 2015 by increasing their reserve numbers overnight by 60% to 1,658 tonnes from “official” reserves of 1,058 tonnes, the gold reserve number that the PBOC reported for six straight years prior. Even when this updated number was reported, I again, at that time, stated that such a number was a gross underreporting of their real reserves, as Chinese government officials had zero desire to reveal the strength of their hand in the middle of a global currency war.

For the past two years, the PBOC again has failed to update their gold reserve data, and it still stands at 1,658 tonnes though many have speculated that the real number is upward of 20,000 to 30,000 tonnes based upon internal nationwide production that never leaves China, in addition to the extrapolation of Hong Kong gold import data that is publicly available. Global bank analysts, that tend not to look at real data that is available to estimate China’s real gold reserves, blindly report “official” data and used China’s reported 1,658 tonne number a couple of years ago to call the figure underwhelming, and in increase that would have no bullish effect on gold prices, simply because it fits into their unrealistic narrative that they wish to propagate to keep gold prices suppressed.

However, unlike the mass financial media of Reuters and Bloomberg and big global banks, I believe that the alternative China gold reserve figure that has been floated, a number that is in the 20,000 to 30,000 tonne range is reasonable, which begs the question, “What does China plan to do with all this gold?” The easy answer would be to back the renminbi, but I think it goes a little deeper than this simple answer. I believe that China will use gold to back the renminbi in all trade associated with its OBOR (One Belt One Road) project, that will build massive infrastructure to connect 65 countries economically across Asia, the Middle East, Europe and Africa, in which 62% of the global population resides.

If China can usher in the adoption, across 65 countries, of a gold-backed currency, then this currency will become a global currency even if the remaining 48% of the global population entirely ignores it. I also have a second theory regarding China’s potential use for their alleged massive tonnage of physical gold, one that I have not yet heard proposed anywhere else, that could help catapult gold as an essential part of the global currency system even outside of any designated OBOR infrastructure..

In any event, the progression of OBOR has been a struggle thus far, as other Central Bankers that have held the entire world population hostage to its fiat currency system likely recognize the key role that the development of OBOR will play in determining the eventual winners of the current global currency war and have convinced many NATO nations to boycott the development of OBOR up to this point. In my estimation, NATO and international banking organizations are likely controlling the narrative of non-participation in OBOR by the threat of pulling military support. But should the development of OBOR pick up steam and should China reveal gold’s role in the new OBOR economy, as I believe gold will play a key role in ensuring that Chinese currency is the primary currency of the OBOR economy, this event would send the price of gold soaring. Is this event imminent? Likely not.

However, there are a number of other ways that China could still contribute to a much greater fiat currency price of gold, including revelations of their true gold holdings over time. For example, during their next update to their “official” gold reserve numbers, they could step this number up from 1,658 tonnes to 5,000 tonnes, a considerable jump in the “official” number that would be enough to boost gold prices, but not reveal the entirety of their holdings. And as I hinted at above, there is another possibility being explored by the Chinese government right now, using gold as the basis for this event, that could possibly help catapult China to the top of the mountain in the global currency wars that are being played out right now as fiat currencies continue to die all around the world. I’m still researching this topic, so don’t want to speculate any further until my sources are able to send me some more concrete information about my theory.

After I wrote that, silver did get smashed considerably lower than $15.68 to $14.34, but that smash, as I had predicted, literally only lasted but for a New York minute, as most of the smash from above $16.00 an ounce to $14.34 was literally regained in just a few minutes. However, the smash represented a non-tradable event in physical terms, as it happened so quickly and was deliberately executed during thinly traded hours that made it near impossible to buy any physical silver anywhere near $14.34 or even $15.00 an ounce. Furthermore, the very next day after the very short-lived silver smash, silver closed 9% higher at $15.63, and has steadily climbed since then, to its current spot price of $16.86. The 17.6% bounce in spot silver price in just a few weeks should amply demonstrate how the smash to $14.34 was a 100% completely manufactured event by the global banking cartel in their efforts to continue to try to scare people out of possessing physical precious metals and to herd them into 100% digital currencies, as is necessary for their plan of global subjugation.

It should  come as no surprise to anyone that the very countries that have been able to herd all their citizens into adopting 100% digital currency, like Sweden, or are in the process of moving toward a 100% digital currency economy, like Norway, Finland and others are  ramping up their military budget. For example, the Swedish government just pledged to increase defense spending this year to $5B, Norway increased their military budget to $6B, and Finland has also openly discussed the need to increase military spending after years of spending cuts. Meanwhile, China has cut their military spending into single digit percentages of its GDP for the second straight year, after years of ramping up their military spending by double-digit percents of its GDP.

Still, it is indisputable that Central Bankers have done what they do best all around the world – rapidly erode the purchasing power of fiat currencies in every nation in which they operate. The US dollar has been in a nose dive all year long and now is at 27-month lows. In Venezuela, the Venezuelan bolivar is worth just 1/1000 of what it was worth in USD just 17-years ago. In Venezuela, the amount of bolivars one would need to spend to buy an average priced car not too long ago, will not even be enough to buy a phone today. Think about those last statements. The US dollar has been in a free fall all year long and is now at 27-month lows, and despite this, the Venezuelan bolivar’s purchasing power has free-fallen at such a clip, that is has still managed to lose massive amounts of purchasing power against a nosediving US dollar. This fact has led to all-time high levels of dissatisfaction with the government in Venezuela, chaos, and citizens continuously fighting the police State in Venezuela. Consequently, even if China continues to play chess while the rest of the Western-hemisphere Central Bankers play checkers, and therefore continue to hold their cards close to their chest and do not liberate gold’s price any time soon, Central Bankers will self-destruct on their own to liberate gold’s price, as self-destruction is their mission.

The situation in Venezuela, due to the destruction of purchasing power of the bolivar, is so bad today, that even if you had the foresight to hold your savings in the form of gold in Venezuela, and thus did not suffer apocalyptic destruction of your savings, courtesy of Venezuelan Central bankers, as they killed the purchasing power of the bolivar, it would still be extremely difficult for you to purchase a new car today in Venezuela, as the waiting lists for new cars are so long that it’s near impossible to buy one. And worse yet, because new cars in Venezuela, in recent years, have been as common as Bigfoot sightings, in past years, a Venezuelan citizen has had to pay more money to buy a used car in Venezuela, even three, four and five-year old cars, than one would have had to pay for a new car if one were available. That situation perhaps made Venezuela the only country in the entire world in which a car started increasing in price the second one drove it off the lot.

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