- Blockchain technology – What is it?
- Latest developments – Royal Mint Gold & CME, Goldman Sachs and Santander
- Why do we need it? It’s about value
- Blockchain is an extension of economics
- Blockchain allows us reduce uncertainty and risk
- How will it change your life?
For those of you who follow anything to do with blockchain and blockchain technology, you will know that the space has had its ups and downs in the last couple of weeks.
The exciting news is that two major players in the gold market, the Royal Mint and CME Group have announced a blockchain-backed gold project, and the surprising news is that the R3CEV consortium is apparently under threat. Continue reading
And this is only the economics side of what’s to come.
People have long forgot about the military component to the Sino-Soviet war axis, which is under construction and will be used to create One Clenched Fist.
BRICS is the social-economics side, whereas the SCO is the political and military side.
The sword is coming.
If you’ve ever suspected the gold market is being manipulated, you’re not alone – and you’re right, it is.
“Central banks and traders (especially the big ones acting on behalf of mega hedge funds, large-scale private funds, and institutions) can push gold prices higher – or lower,” Fitz-Gerald wrote. “The financial markets are like a football game in that there is a constant flow of energy between participants. And the ‘manipulation’ works in both directions, especially when it’s being orchestrated by the Fed and other central banks in the name of political expediency.” Continue reading
China has lifted a veil over its gold holdings and confirmed its interest in providing more up-to-date reserves data by announcing a near 60% jump in its official bullion assets since 2009.
The declaration on Friday, in a Chinese language announcement on the People’s Bank of China (PBoC) website, appears a judicious attempt to show more statistical transparency as China modernizes its international currency arrangements. Continue reading
It’s just a guess, but in the near future you shouldn’t be surprised to see an announcement of a gold-backed Chinese currency. They’ve been increasing the inventory of gold for too long to not do something with it and they would love to put a dent in America’s global hegemon.
China’s gold reserves stood at 1658 tonnes at the end of June, the central bank said on Friday, up 57 per cent from the last time it adjusted its reserve figures more than six years ago.
Despite the tonnage increase, gold now accounts for 1.65 per cent of China’s total forex reserves, against 1.8 per cent in June 2009.
The reduced ratio suggests China will increase its bullion purchases, but the market had focused elsewhere, traders said. Continue reading
To join elite currency club, Beijing may agree to more transparency of its holdings
China may be ready to tone down its secrecy over state gold holdings — thanks to complicated maneuvering on the renminbi potentially joining the International Monetary Fund’s monetary reserve denominator, the special drawing right, later this year.
As part of diversification of reserve holdings, over the past five years China is widely believed to have amassed official gold reserves well above its officially reported total of 1,054 tons, a figure that Beijing has maintained unchanged since 2009 in data reported to the IMF. Gold mines in China — the world’s biggest bullion producer for the past eight years, with 2014 output of 452 tons — have been quietly selling some of their output to the state, possibly several hundred tons in some recent years.
– Russia buys one million ounces and increases gold reserves by another 2.6% in March
– Russia sees gold as important monetary and strategic asset in stealth currency wars
– Large purchase by Russia who normally buy some 300,000 ounces a month
– Russian gold reserves, at nearly 40 million ounces, are now fifth largest in the world
– Russia likely coordinating gold reserve accumulation with ex-Soviet States
– Concerns regarding euro and crisis in erstwhile reserve currency, the dollar
– Gold remains central to international monetary system
– Central banks continue to accumulate large volumes
Russia increased its gold holdings by one million ounces in March, bringing its total reserves to nearly 40 million ounces or 1,238 metric tonnes. The Russian one million ounce gold purchase is a large one even by Russian standards as in recent years they have consistently been buying roughly 300,000 ounces per month.
Since 2005, Russia’s gold reserves have increased three-fold. As a comparison, in the second quarter of 2009, Russia only had 550 tonnes of gold in its official reserves meaning that their reserves have doubled in recent years. Continue reading
A tidal wave of gold repatriations may have begun. As speculated in my last post, I raised a concern that should be shared with all western Central bankers…a widespread flood of countries demanding their gold back to their home soils.
This notion sounds logical to any sane individual, but to a central banker who is gold negative, this is their worst nightmare. To understand why, you need to step back and see the big picture, which shows the stark reality of how rare gold truly is and how little of it remains in western vaults, despite what the mainstream media would have you believe.
First it was Germany, then it was the Dutch. Soon it could be Switzerland depending on the results of their gold repatriation referendum, which central bankers are nervously awaiting the results. Now, there is France.
Is Russia boosting its gold stockpiles in anticipation of a possible economic war with the West?
Russia accounted for 59 per cent of net gold purchases by central banks in the third quarter of 2014, according to data from the World Gold Council.
Russia, Kazakhstan and Azerbaijan have all taken advantage of a subdued gold market, for which demand eased by 2 per cent in the quarter. The WGC has attributed this to an increasing effort to diversify away from the US dollar. Continue reading
Ironically, in another article several days ago, it was mentioned (See “China Recasts Gold Bars” heading) that China was recasting larger gold bars into smaller ones. A possible motive for this being a new globally dominant currency that will end the USD’s rein. The validity of this remains to be seen, however, the world is one crisis away from a collapse. This is likely economic warfare
Not impressed by the headline? Consider the following: China has acquired more gold in the last six months than there is in all of Portugal, one of the EU’s largest holders of the precious metal.
Does that sound a bit more impressive?
“While the highly ‘sophisticated’ traders that make up the gold market continue to buy or sell the precious metal based on whether the Fed will or will not do the NEW QE [Quantitative Easing] tomorrow … China continues to do one thing. Buy,” writers at Zero Hedge report.
And they’re not kidding. China is on a mission:
“[I]nstead of purchasing US paper, Beijing continues to buy non-US gold, in the form of 68 tons in imports from Hong Kong in the month of June. The year to date total (6 months)? 383 tons,” the Hedge reports.
“In other words, in half a year China, whose official total tally is still a massively underrepresented 1054 tons, has imported more gold than the official gold reserves of Portugal, Venezuela, Saudi Arabia, the UK, and so on, and whose YTD [Year to Date] imports alone make it the 14th largest holder of gold in the world,” the report adds.
“[T]he moment the PBOC [People’s Bank of China] does announce its official updated gold stash, a gold price in the mid-$1000 range will be a long gone memory,” Hedge adds ominously.
Let’s do a quick recap, shall we?
1. Has China been selling off its stake in U.S. Treasurys? Yes.
2. Has China been importing hundreds of tons of gold? Yes.
If China’s actions are any indication of what lies ahead, is it safe to assume things are going to get really interesting, really fast?
Full article: Hoarders: China Has Imported 383 Tons of Gold in the Last 6 Months (The Blaze)