Read the Beforeitsnews.com story here. Advertise at Before It's News here.

By NESARA
Contributor profile | More stories

Story Views
Now:
Last hour:
Last 24 hours:
Total:

China Set To Introduce Gold-Backed New World Reserve Currency

Monday, March 17, 2014 18:24

% of readers think this story is Fact. Add your two cents.

Here we go this may explain why China purchased the Chase Bank building in NewYork City not long ago,with an under ground vault the size of a football field !!! next door to the New York Federal Bank building !!

China Looks Set To Introduce Gold-Backed New World Reserve Currency

China Looks Set To Introduce Gold-Backed New World Reserve Currency. The US dollar has been the world’s reserve currency for many decades now, but the trends seems to indicate that China is preparing to overtake the US in regards to being the “standard” currency. The world’s monetary system has not had any direct involvement with gold since 1971, when U.S. president Richard Nixon ended the conversion of the dollar into gold.

China seems to be preparing itself for a big involvement in gold, potentially backing their currency with gold. This simple graph below shows that world reserve currencies come and go, and they change on average every 95 years.

It is impossible to know exactly how much gold China has, as their central bank is more secretive in this regard compared to other countries. The last “official” announcement of their gold holdings was in 2009, and it was reported as 1,054 tons. Those figures would currently put China in the number 6 spot on the list of countries who hold the most gold. However, Matt Insley at Agora Financial put together an estimate based on import figures, mining production figures, as well as more stealthy forms such as black-market gold from Africa and the fact that China urges it’s citizens to own physical gold. The mining and import numbers alone would mean that China has at least 3927 tons, but with the other additions, it brings the number up to potentially 7000 tons!

Either of those two numbers would currently place China at the number two spot on the world rankings of gold holdings. The number one spot goes to the US, who supposedly holds 8133.5 tons supposedly. Keep in mind that the US has not had their gold audited since 1953, despite former congressman Ron Paul’s efforts in introducing a bill that would audit Fort Knox in 2011.

Last year saw a new international debacle when Germany asked for it’s gold to be repatriated by the Fed who had been storing it. The Fed claimed it would only deliver 300 tons, out of the 1500 tons of gold that was originally stored. They also added the provision that it would be paid back over a seven-year time. So far, only 5 tons have been delivered from the Fed’s vaults. What this could mean is that the US has almost no gold at all. So if it’s true, then China already has more gold than any other country in the world.

So why are they doing this? The obvious answer is that they are preparing to dethrone the US dollar of it’s reserve currency status, and replace it with a gold-back Yuan(Chinese currency). China is either number 2 or 1 in it’s gold holdings, and they also import more gold than any other country, they are also the world’s largest producer of gold, and they export ZERO of what they produce. The Chinese government encourages it’s citizens to buy gold and save in gold, and the nation has already been making bilateral trade agreements with other countries, that specifically do not use the US dollar in the exchanges.

The Chinese save over 35% of their incomes, compared to about 2-3% in the US, and they have the world’s largest manufacturing sector. Impressively, their middle class seems to continues to increase while the US middle class dwindles. China is one of the largest creditor nations in the world, while the US on the other hand is the biggest debtor nation. All signs point to a new world reserve currency, and the balance of power may change with it.

Source: http://nesaranews.blogspot.com/2014/03/china-set-to-introduce-gold-backed-new.html

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

LION'S MANE PRODUCT

Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules

Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.

Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.

Comments

Visits:	1,708,403,069
Stories:	8,450,334