Jim Rickards, (not unlike Martin Armstrong, but not as interfering to the
powerfuls' plans), of new book, The New Case for Gold, saying?
Though not mentioning the new book in this article below, since the
article was written in April 2014. To get a summary of his new book you
can read Bob Moriarty's review of it, though tries to play down that gold
manipulation has been taking place when it obviously has been, as if
Bob Moriarty hasn't read Rickard's 2014 article below.
https://www.321gold.com/editorials/moriarty/moriarty031516.html (Briefly on Jim Rickards article below, before my excerpt from it, he's saying
that gold is coming back big time just waiting for china to get big reserves
of it ,
And unlike
Canada's gold position of none, only countries with gold will recapitalize
the quickest and be the most stable, and have a seat with the world table's
deciders of the new world order coming)
ie
'Why the U.S. is Letting China Accumulate Gold'
by James Rickards
https://dailyreckoning.com/u-s-helping-china-accumulate-gold/ "When you have this reset, and when everyone sits down around the table, China’s the second largest economy in the world. They have to be on the bus. That’s why the global effort has been to keep the lid on the price of gold through manipulation. I tell people, if I were running the manipulation, I’d be embarrassed because it’s so obvious at this point.
The price is being suppressed until China gets the gold that they need. Once China gets the right amount of gold, then the cap on gold’s price can come off. At that point, it doesn’t matter where gold goes because all the major countries will be in the same boat (ie great shortfalls in gold reserves). As of right now, however, they’re not (letting the cap off the gold price), so China has time to catch-up.
There is statistical, anecdotal and forensic evidence piling up for this. All of it is very clear. I’ve also spoken to members of Congress, the intelligence community, the defense community and very senior people at the IMF about it.
China is our largest trading partner. It’s the second largest economy in the world. The US would like to maintain the dollar standard.
I’ve described some catastrophic scenarios where the world switches to SDRs or goes to a gold scenario, but at least for the time being, the US would like to maintain a dollar standard. Meanwhile, China feels extremely vulnerable to the dollar. If we devalue the dollar, that’s an enormous loss to them.
That’s why, behind the scenes, the U.S. needs to keep China happy. One way to do that is to let China get the gold. That way, China feels comfortable.
If China has all paper and no gold, and we inflate the paper, they lose. But if they have a mix of paper and gold, and we inflate the paper, they’ll make it up on the gold. So they have to get to that hedged position.
Gold is liquid, but it’s a fairly thin market. If I call JP Morgan and say, “Hey, I want to buy 500 tons of gold,” I can’t do it. That would be a huge order. An order like that has to be worked between countries and central banks behind the scenes.
It’s done at the BIS, the Bank for International Settlements, in Basel, Switzerland. They’re the acknowledged intermediary for gold transactions among major central banks and private commercial banks.
That’s not speculation. It’s in the footnotes of the annual BIS report. I understand it’s geeky, but it’s there. They have to acknowledge that because they actually get audited. Unlike the Fed and unlike Fort Knox, the BIS gets audited, and they have to disclose those kinds of things.
The evidence is there. China is saying, in effect, “We’re not comfortable holding all these dollars unless we can have gold. But if we are transparent about the gold acquisition, the price will go up too quickly. So we need the western powers to keep the lid on the price and help us get the gold, until we reach a hedged position. At that point, maybe we’ll still have a stable dollar.”
The point is that is that there is so much instability in the system with derivatives and leverage that we’re not going to get from here to there. We’re not going to have a happy ending. The system’s going to collapse before we get from here to there. At that point, it’s going to be a mad scramble to get gold."