The cat is out of the bag, gold signaled it. As I write 45 minutes before the close, gold is selling at 1218.2. The whole universe of gold is trading higher; obviously something is happening. The big, in-the-know money is reaching for gold and gold miners. China has quietly been building its hoard of gold; I think China is ready to release a gold backed yuan. China has joined with Russia to defeat the dollar as the world’s reserve currency.
China is sick of the fiat dollar. China, patient for years, now intends to be the world’s leading power. China knows history and knows that the nation with the largest hoard of gold is the world leader. Russia, now brought to its knees by the collapsing world price of oil, has decided to link up with China in their dual campaign to remove the US as the world’s leading power. International money has ... Log in or subscribe to continue reading.