China will use gold and gold pricing to force global currency reset On Sept. 30, statistician and economist Dr. Jim Willie was a guest on the Caravan to Midnight radio show to talk about current financial, economic, and geo-political events. During his three hour interview, Dr. Willie stated that one of the purposes behind Chinas creation of the new Shanghai gold exchange is to eventually take over global price controls for the monetary metal away from the Comex, and then force a global currency reset by raising the price of gold to its true or actual value. The way this will come about in the near future according to Dr. Willie, is that China will demand physical delivery on their massive number of gold contracts they currently hold in the U.S. futures market (Comex). And based upon supply details for the Comex over the past two years, Americas primary gold exchange no longer settles their contracts through the delivery of physical gold, but instead settles in cash payments or through the hedging of gold using derivatives. Subsequently, once this failure to deliver takes place, then China, through the Shanghai gold exchange, will become the default market for price discovery, and at that point will re-adjust gold to its true value, !nstantly causing massive chaos in the fiat currency markets and leaving the world little alternative but to implement a complete currency reset.
Posted on: Thu, 02 Oct 2014 21:17:01 +0000
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