Russia and China Further Dump The Dollar - Buy Gold; Economic Collapse Coming?
Transcript : this is by the Russia insider goodbye 0:09 petro dollar Russia and China dumped us 0:12 treasuries and buy gold on this is 0:14 posted on thursday februari 9017 gold is 0:18 appealing to Russia and China because 0:20 its shields them from the US 0:21 government's ability to control the 0:23 value of their holdings 0:24 it's no secret that Russia and China 0:26 both share a growing appetite for gold 0:29 but how excited are they about us 0:32 treasuries the most boring but safe 0:35 investment which basically translates 0:37 into we believe that everything will 0:39 basically stay the same 0:41 from the looks of it Moscow and Beijing 0:43 no longer think t-bonds or a safe bet or 0:47 the flower international interests as 0:49 bloomberg zoo zhang explains Russia and 0:52 China are selling and treasuries and 0:54 buying up all the gold they can get 0:56 their hands on as they sharply increase 0:58 their gold reserves China and Russia are 1:01 selling off their US Treasuries with 1:03 their hunger for the metal coming amid a 1:05 strict diet including excluding dollars 1:07 goal is appealing to these countries 1:09 because its shields them from the US 1:11 government's ability to control the 1:12 value of their holdings goals a country 1:14 list currency a continuing trend of 1:17 reserve buildup in treasury sales might 1:19 weaken the dollar and pressure gold 1:21 prices higher China and Russia have 1:23 officially added almost 50 million 1:26 ounces of gold to their central banks 1:28 while selling off more than 260 seven 1:31 billion dollars and treasurer of 1:32 treasuries yes for those who missed it 1:35 Gold is appealing to these countries 1:37 because its shields them from the US 1:39 government's ability to control the 1:40 value of their holdings gold is a 1:43 country less currency a continuing trend 1:46 of reserve build-up and Treasury sales 1:48 might weaken the dollar and pressure 1:50 gold prices higher we imagine this is 1:52 also part of an effort to increase 1:53 confidence in their own currencies which 1:55 are increasingly being used for 1:57 bilateral trade a year ago Moscow became 2:00 China's top crude exporter after degree 2:02 to accept chinese jaan for its oil 2:05 Moscow realizes that despite the risks a 2:07 policy of gradual d dollarization is 2:09 crucial in order to shield itself from 2:12 Western economic 2:13 warfare China of course is in the same 2:15 boat 2:16 these countries aren't just dumping the 2:18 dollar they're also positioning their 2:19 own currencies for trade throughout 2:21 Eurasia and the fact that growing demand 2:25 for gold could lead to a weekend dollar 2:27 is definitely of course an extra a few 2:31 to Washington we see what's going on 2:34 around the world and something massive 2:35 is coming with the markets with the 2:37 economy a massive shift is about to take 2:39 place i showed you just a couple days 2:41 ago in one of the the wires post that I 2:43 did we did we're looking at by the year 2:48 i think it was 20 30 or 20 50 the u.s. 2:51 is going to be ranked third below india 2:54 as the most powerful economies in the 2:57 world China really was China India and 3:00 in the u.s. currently we're number two I 3:02 believe because China is one this is a 3:06 very dangerous trend given that the u.s. 3:08 is the reserve currency of the world so 3:10 I wonder what is going to to happen once 3:12 it all shakes up maybe one of those 3:17 scenarios that of course a lot of people 3:19 have been warning about four years we'll 3:22 see what happens that's all I've got for 3:23 you god bless and carry on
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By dividing the voters through the political party system, we can get them to expend their energies in fighting over questions of no importance. Thus by discreet action we can secure for ourselves what has been so well planned and so successfully accomplished."
USA Banker's Magazine, August 25 1924
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Because I was not a Socialist.
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