New Gold Standard In Blockchain Coming?

by Joseph P Farrell, Giza Death Star:

Something is going on in the world of gold, if these two articles shared by Ms. K.M., and Mr. P.K., are any indicator, and as one might imagine, both trigger some high octane speculation for the day, particularly the article shared by Mr. P.K. Here’s the first article from Ms. K.M.:

Paper Gold Trading Days for London & New York Numbered

And now the article shared by Mr. P.K. from RT:

New global gold standard in kilobar may soon be coming

Regular readers here and of my books are aware that I have speculated for several years that there has been in existence since World War Two’s end a “secret” or “hidden financial system,” based in part on recovered Japanese and Nazi loot, including gold, which was all to be managed by the National Security Council. As part and parcel of this system, I’ve also argued that the international drug trade was a huge component of it, and that the “gold backed bearer bonds” scandals were also a component, given that “gold” in the criminal underworld is often a code-name for “drugs” or other contraband, hence “gold-backed bearer bonds” might also mean drug or other contraband-backed bearer bonds, with the bonds themselves acting as media of exchange in such a system. While this blog is not the place to review all my speculations on this system, it is also worth recalling that I have argued that the obfuscation of the actual amount of gold in existence is probably a huge component of such a system, for if there was more gold in existence than is actually the case with the “numbers”, the opportunities for manipulation become quite severe.

Enter the first article, which speculates that the gold reserves of the USA might not be up to the assaying standards of the actual physical gold trade. This speculation has been around for years if not decades, since the last “audit” of the American reserves was a partial affair, and only one “room” of the Fort Knox reserves was opened to the process. Such sub-par gold reserves could also obviously be used within such a system.

And that brings us to the RT article shared by Mr. P.K., who wrote in his email asking if this new move could be used to weed out sub-standard gold. Certainly the moves by China and Russia to acquire massive amounts of gold and to back a quest for a new trading standard do raise the possibility that they might suspect that American and other western reserves are sub-standard in assay quality.

But there’s another possibility looming here that really caught my eye, and it caught my eye because of its potential utility in serving a greatly expanded system of finance and liquidity. Consider the following lines from the RT article:

“The plan is to create a standard for kilobars that can be adopted around the world, delivered anywhere, possibly using blockchain to identify the bars, their origins,” a physical gold trading source said. “Rigid standards and blockchain would bring in people who are worried they could be getting conflict metal.” (Boldface emphasis added)

There you have it: blockchain technologies – and hence, the linkage between crypto-currencies and gold – are being touted as a means of making the actual physical gold “traceable”, in this case, so the RT article has it, of eliminating “conflict metals,” the “blood diamonds” of bullion trade. Once again, the implicit meme is being driven that the whole technology is “secure” and that there’s “no need to worry.”

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