China Is Fully Aware Of Gold Price Suppression & Planning To Overthrow It

By: Chris Powell, Secretary/Treasurer, GATA

Dear Friend of GATA and Gold:

Back in October gold researcher Koos Jansen and Jan Skoyles of The Real Asset Co. in London called attention to commentary by Zhang Jie, deputy editor of the Chinese publication Global Finance and a consultant to the China Gold Association, which cited the Federal Reserve’s manipulation of the gold market to protect the U.S. dollar’s standing as the world reserve currency.

Jansen has obtained a much better English translation of this Chinese commentary, and it includes this observation about gold leasing by Western central banks: “Through continuous gold leasing the gold in the market can be circulated and produce derivatives, creating more and more paper gold. This is very significant for the United States. Gold leasing is a major tool for the Federal Reserve and other central banks in the West to secretly control and regulate the gold market, creating gold credit derivatives and global credit conflict.”

The new translation, headlined “Gold Leasing Is a Tool for the Global Credit Game,” is posted at Jansen’s Internet site, In Gold We Trust, here:

http://www.ingoldwetrust.ch/gold-leasing-is-a-tool-for-the-global-credit…

Jansen also has posted two other Chinese commentaries demonstrating that China sees gold as the center of its own and the world’s monetary system.

One commentary is by Sun Zhaoxue, president of China National Gold Corp., the country’s biggest mining company, who writes:

“Gold now suffers from a ‘smokescreen’ designed by the United States, which stores 74 percent of global official gold reserves, to put down other currencies and maintain U.S. dollar hegemony. Going to the source, the rise of the U.S. dollar and British pound and later the euro from a single-country currency to a global or regional currency was supported by their huge gold reserves. 

continue at GoldSeek.com:

http://news.goldseek.com/GATA/1385916963.php