Deutsche Bank Admits It Rigged Gold Prices, Agrees To Expose Other Manipulators, page-89

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wombat53

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16/04/16

14:59

Post #: 17520782
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Originally posted by 23skidoo ↑

When the petrodollar fails, it will drag the economies of all the World's nations, big and small, down with it.
Initially, The only things which will separate the haves from the have-nots will be their precious metals holdings.
If the US really still has its 8,000+ tonnes of gold, then it will be a sizeable bargaining chip in reset negotiations, but if not (why can't they repatriate Germany's US held gold?), then the US will be in disastrously weak position.
The USD will likely then be devalued and used internally only.
Given their current attitude to gold, the US would have to do a complete backflip, and in any event, if the gold isn't in Fort Knox, they can't back the USD with gold again.
Yes, countries with large gold mining industries will have a huge advantage, and if gold is revalued many multiples, just watch the gold mining sector take off!
In this department we have China, Russia, US, Canada, Australia, South Africa and some others.
Remember, this is being forced on the US by China and Russia. It will mean the end of US ability to project its military power, which is employed to enforce the use of the USD In international trade around the world.
23.

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"If the US really still has its 8,000+ tonnes of gold"
Status Report of U.S. Government Gold Reserve

Current Report: March 31, 2016

https://www.fiscal.treasury.gov/fsreports/rpt/goldRpt/current_report.htm
In Fine Troy ounces:
Department of the Treasury
Bureau of the Fiscal Service
Status Report of U.S. Government Gold Reserve
March 31, 2016
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Deutsche Bank Admits It Rigged Gold Prices, Agrees To Expose Other Manipulators, page-89

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