Posted on 01/15/2014 7:33:03 PM PST by Publius
China National Gold Group Corporation General Manager Sun Zhaoxue has come out and told the world media that the US is suppressing the gold price. The reason for America’s manipulation of gold is to ensure US Dollar dominance on the world stage. America has by default ended up with the world’s reserve currency and therefore gets the world to work for them in exchange for an ever increasing supply of printed greenbacks. He also went on with an excellent analysis of America’s war against Europe and the Euro using their investment banks. Another good insight from Sun Zhaoxue is that while major players like Warren Buffet and Goldman Sachs talk about how they hate gold and forecast price declines, they have made large bets on gold and gold companies.
His comments from the Liujiazui economic forum were as follows:
“The hottest topic at the moment is oil and gold. The ground war we are seeing around the world is, I think, war for oil, whereas gold is the currency war. Why? We observe that integrity was the driver for the US Dollar to become the world reserve currency. The US Dollar and gold decoupling from 1971 caused the US Dollar to depreciate massively. From 1990 onwards, the Eurozone was in consultation to form a strong Euro to counter the US Dollar in order to prevent the latter from stripping Europe of its wealth. The Euro was born in 1999, supported by its strong economy and 11,000 tons of gold.
"With the birth of the Euro, a competitor to the US Dollar was created, and so the US decided to lay a trap for the Eurozone as part of the currency war. Some countries in the Eurozone violated the Eurozone’s norms by issuing bonds. Which entities participated in the issuance? US investment banks. After the debt was issued, it was US ratings agencies that struck a blow to the Eurozone by saying that its economies had problems.
"Only gold remains on par with the US Dollar to benefit from the Eurozone and Euro's collapse. This is why the US began to suppress gold by issuing a statement two months ago that the Eurozone will sell its gold when it is unable to service its debt, then stating three days later that the news was false. Furthermore, Goldman Sachs made a forecast for the gold price at the beginning of the year but suddenly changed its course saying the gold price will fall to $1300. Buffet said that he would not buy gold even if its price fell to 800USD. Our research indicates that Buffet made a lot of money from four gold companies. So his statement is inconsistent with his personal action.
"Bernanke’s speech followed, saying that monetary easing will end, that the US economy is improving. This series of examples shows that the fall of the gold price is premeditated. So I say that this process is a genuine currency war.
"Many people say that gold is just a beautiful thing. Then we have to ask the US why they store so much gold, but instead of selling gold, they issue debt to other countries to rescue the financial market.
"The US owes Germany so much gold but instead of repaying immediately sets a 2020 deadline to return the gold. From this example and process as well as some typical factors, this is a downright currency war to maintain US Dollar hegemony by defeating all other currencies.
"I shall stop here."
If the US is depressing gold prices, it’s as much to discredit Glenn Beck as anything.
This is news?
Most of know what is going on, but it’s the first time a major power has spoken up about it publicly.
Goldbug ping.
You give Beck too much credit.
Maybe, but a lot of people followed his advice.
Beck’s advice is good, but the major players in the financial world, to include the central banks, barely know he exists.
That's not a good sign, is it?
It means the scam is coming to an end. China is the one nation that could break it up, send the price of gold flying, and send the dollar into collapse.
What about silver, is the situation the same as with gold?
“Most of know what is going on, but it’s the first time a major power has spoken up about it publicly.”
You cannot be serious. We are in a recessionary/high debt situation/Deflationary state. Most commodities are down, gold included
It’s a commie plot, I tell ya.
Yes. Think of gold and silver as the inverse of the dollar.
The price of gold is rigged, and this article explains who and why.
I think the jig is up but I don’t know much about these things. How long do you think or guesstimate it will take before it starts getting ugly?
I don’t know. Gerald Celente and Jim Willie think it’s this year. Fabio Calvo thinks it’s 2015 and 2016.
It’s an idiotic article. The U.S. wants a weak Dollar, not a strong one.
Weak Dollars buy more domestic goods and fewer imports.
“...The US owes Germany so much gold but instead of repaying immediately sets a 2020 deadline to return the gold.....”
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This assumes that the American banks are actually still in possession of all of Germany’s physical gold bullion. Some have questioned its physical presence or at least whether it is financially unencumbered as it should be.
The UK is buying water cannons and something else over in Europe that I forget now. Are they going to have a mess before us? I think they are preparing for a mess.
Of the names you listed, who is right more of the time and any idea of Peter Shiff (sp?) predictions?
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