China preparing for the end of the Petrodollar !!

Wednesday, August 14, 2019

China preparing for the end of the Petrodollar !!

The Chinese are preparing for the end of the Petrodollar and for Americas economic demise, now that we owe $22,000,000,000,000 as a nation with unanimous worldwide agreement that this will continue to grow unabated until the Great Economic Reset, when we start all over again as a 3rd World Country. The recent purchases boosted the People’s Bank of China’s gold reserves to 62.26 million ounces about 1,945 tons.But the truth is probably ten times that amount . if not more .You can't believe any numbers from China regarding their gold purchases. You can bet they're buying a lot more gold than they're reporting. They're not about to let anyone know how much gold they have in reserve, until it is time for the iron palm to meet the glass jaw of Uncle Sugar. The Chinese continue to add gold to their reserves in an effort to reduce their exposure to the dollar. China’s gold purchases, along with the buying spree in other countries, including Russia, also aim toward a broader geopolitical objective. They want to undermine dollar hegemony and reduce the United States’ ability to weaponize the dollar as a foreign policy tool. China isn’t alone in buying gold. Central bank buying helped boost overall gold demand 8% in the second quarter, according to the World Gold Council. Globally, central banks bought 224.4 tons of gold in Q2. That brought the total on the year to 374.1 tons. China and Russia have been the biggest buyers. Gold going in as dollars going out . China holds no less than $3 trillion forex reserve . and as Peter Schiff said recently : The days that the dollar is a reserve currency are numbered and the smart central banks are trying to buy as much gold as they can before the number is up. Lower price of gold is a buying opportunity to acquire more money for the inevitable death of all currencies. And as people realize that stocks are not worth their PE's and real estate is already over priced, they may flood into gold, pushing it up as the only game in town. That could push up gold to the $10K mark .

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Wednesday, August 14, 2019