China russia gold standard

0’ they want to distance themselves from this control. The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy “As Bejing and Moscow understand that America used the dollar to control the world, by implementing a new kind of ‘Gold standard 2. ORIGINAL SOURCE: Russia-China real gold standard means end of US dollar dominance by rt. ” Russia-China real gold standard means end of US dollar dominance. China, on the other hand, had only about 1,000 tons of gold, about the same as Switzerland. China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse,“ he told RT. China-Russia currency agreement further threatens U. Russia's gold reserves have grown by 21 percent to 1,460 tons. hegemony in the oil trade. It looks like Russia and China are leading the way for a new type of gold standard that rest of the BRICS nations would follow. Stephen Leeb: “The year 2017 was full of sound and fury.


When this happens, the global economy will be significantly reshaped, and the West will lose its dominance, predicts a precious metals expert. Since the end of 2008 the gold reserves of China have nearly tripled – from 600 to 1,762 tons. It simply wants the power to set reserves and, therefore, currency values, particularly the yuan vs. 6 tons for China and 1,828. global financial hegemony, Russia and China took a small step toward undercutting the domination of the U. government has built up record levels of debt that can only be financed with low interest rates. However, China, now the largest automobile market in the world, is expected to rapidly increase oil consumption. e. 24 million ounces (1842 tonnes). After all, there are two ways for a country to default: stop making debt payments, or keep printing money to make those payments more feasible.


But one report makes the suggestion that China and Russia are considering a move to a digital version of the gold standard, primarily based on the data that shows these two economic powerhouses Russia-China Real Gold Standard Means End of US Dollar Dominance. That would bring China's gold imports from Hong Kong to 1,160 tonnes since the beginning of this year. The first argument is that China and Russia’s gold buying, and the motives behind it, will almost certainly weaken the dollar. Dollar standard/Bretton Woods-breaks down when redemptions accelerate. Much less known, outside of financial circles, is the way China has been quietly amassing gold. From 2009 to 2015, China was buying 6-8 tons of gold a month, but in the summer of 2015, the country doubled its appetite for the precious metal. They make no secret of this. Russia, meanwhile, is the world’s fourth largest producer with an annual capacity of about 200 tons. S. Keep in mind that China is also the world’s leading gold miner, producing more than 420 metric tons in 2013 numbers, with Russia ranked behind the U.


China Is Laying The Foundation For The Next World Gold Standard System. In order for China (and Russia) to unroll a gold-backed currency, China must acquire as much gold as it can before the global currency reset. While no country is still on the gold standard, China and Russia are discussing the creation of a new gold-backed currency to trade in Dateline: Dubai, United Arab Emirates Several years ago, nearby Abu Dhabi installed one of the world’s first gold ATMs , allowing customers to withdraw fiat currency in term of everything from one-gram gold China and Russia appear to view gold as the only strategic monetary asset that can provide independence from the US dollar. Russia-China real gold standard means end of US dollar dominance Published time: Dec 9, 2017 The BRICS counties are considering starting an internal gold trading platform, according to Russian officials. US dollar ratio. January 7 (King World News) – Dr. 9 Dec, 2017. According to the publication, China and Russia have engaged in an "aggressive" buildup of their gold reserves over the last decade, growing from about 400 tons in 2007 to 3,670 tons today (i. The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy This article (Russia-China real gold standard means end of US dollar dominance) was originally published on RT News and syndicated by The Event Chronicle. Contrary to China, I think Russia is less patient, and is maneuvering behind the scenes for a quicker change to the monetary system.


“As Bejing and Moscow understand that America used the dollar to control the world, by implementing a new kind of ‘Gold standard 2. Currency backed by gold and redeemable in gold – eg. It has become the largest physical gold exchange in the world, with an estimated 52 times more physical gold withdrawals versus the predominantly paper exchange of the COMEX. Russia-China real gold standard means end of US dollar dominance The BRICS counties are considering starting an internal gold trading platform, according to Russian officials. The precious metal at present remains the biggest single danger to the hegemony of the dollar According to the publication, Russia & China could set international gold price based on physical gold trading Physically backed precious metals market spells the end of paper gold trade The level of trust between BRICS countries can help them establish intragroup gold trading, which would be 100 percent physically backed. Types of Gold Standards. Report that China and Russia are working on a gold payments system. as the three key points, F. RT. .


Three types can be distinguished: specie, bullion, and exchange. 6 tons for Russia, respectively, according to the World Gold Council). In December, the INE announced a successful completion of the fifth dry run in yuan-backed oil futures contract trading. For example, some experts suggest that countries such as Iran, Russia and Turkey that are sanctioned by the US dollar can use the gold standard to issue currency instead of the US dollar, and recently bypass the SWIFT dollar. This evasion of, and unprecedented breakaway from, the reign of the US dollar monetary system is taking many forms, but one of the most threatening is the Russians trading Chinese yuan for gold. Russia and China. Russia is already the second biggest oil exporter and the biggest natural gas exporter in the world. When this happens, the global economy will be significantly reshaped, and the West will lose dominance, predicts a precious metal expert. The BRICS counties are considering starting an internal gold trading platform, according to Russian officials. Russian President Vladimir Putin has warned that the new Russia-China gold standard spells certain death of the US dollar within the next few years.


Russia’s second-largest bank VTB is also a member of the Shanghai Gold Exchange. “In other words, China and Russia are shifting away from dollar-based trade, to commerce which will eventually be backstopped by gold, or what is gradually emerging as an Eastern gold standard, one shared between Russia and China, and which may day backstop their respective currencies. as the fourth largest with 220 tons produced each year. A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The ability to sell oil on Chinese exchanges for yuan will take the potency out of U. That could mean the three countries are “re-imposing the gold standard just by the fact of accumulating it like this, by stocking gold,” says Stacy Herbert. Gold hits all-time high on reports that China, Russia, Japan and several of the most powerful Gulf States are planning to replace the US dollar with gold and a basket of currencies including the . But the gold demand trend is suggesting that a gold standard is underway. Overall, the countries make up 25 percent of the world gold production. In other words, China and Russia are shifting away from dollar-based trade, to commerce which will eventually be backstopped by gold, or what is gradually emerging as an Eastern gold standard, one shared between Russia and China, and which may day backstop their respective currencies.


According to the publication, central banks of Russia and China have been buying a lot of gold recently. 23 Countries Now Abandoning US Dollar A new world monetary system is being set up right now which will completely kill the US dollar, which is the world’s reserve currency. China is silently preparing to replace the U. Using a new non-dollar, gold backed currency by major economies would have a large impact - the first one being that it would take away the A newly invigorated Russian ruble based on gold may just be the key for that country's rise as an economic power, which could in turn tip the balance of power in favor of Moscow and its newly formed Customs Union. “In combination with the announcement of pricing oil in yuan, using a gold-backed futures contract in Shanghai, the establishment of the Asian Infrastructure Investment Bank and the New Development Bank, China is setting up an alternative to the post-Bretton Woods establishment. Some are getting excited about this and promoting the concept that China and Russia are about to switch to gold-back currencies and completely by-pass the USD. It said that 149 of its members traded 647,930 lots in the rehearsal with a total value of 268. According to the publication, China and Russia have engaged in an “aggressive” buildup of their gold reserves over the last decade, growing from about 400 tons in 2007 to 3,670 tons today (i. 5 Trillion dollars worth of gold to have a perfect Gold standard where every unit of Yuan in existence (both physically and electronically) has 1 yuan worth of gold attached to it. It said that Russia, China and Turkey are leading the gold-buying spree.


Many have considered the phony “paper gold” markets, including the U. ” Gold in Russia The Russian government intends to return to the gold standard and. The BRICS are considering an internal gold trading platform, according to Russian officials. India, with a population of over a billion, had a smaller gold hoard than Portugal. So, China will need to buy 25. The Chinese government have begun purchasing gold mines around the world in an effort to dominate the market. If oil exporters adopt the new Chinese yuan/gold backed crude oil futures contract for deliveries to the world's largest oil importer - China - it will lend further support and accelerate an already very bullish environment for gold investors. As we kickoff the new year, the biggest surprise will be that China is going to replace the dollar with a gold-backed currency in 2018. “A Russian-Chinese alternative to the dollar in the form of a gold-backed ruble and gold-backed Renminbi or yuan, could start a snowball exit from the US dollar, and with it, a severe decline in America’s ability to use the reserve dollar role to finance her wars with other peoples’ money,” Engdahl concludes. 23 countries (60% of the world’s GDP) are setting up swap lines which bypass the dollar and SWIFT, which is the dollar-based worldwide financial transaction system.


Metal experts have backed up Putin’s claims, predicting that when BRICS countries launch their internal gold trading platform, the global economy will be completely reshaped, with the West losing its dominance. China and Russia are moving to gold backed currency and each has issued home currency-denominated bonds in each other’s markets which will reduce the volatility of yuan and ruble exchange rates. sanctions levied on nations such as Russia and Iran. For the Chinese State, the latest SAFE release is reporting Chinese official gold reserves of 59. Historians are sure to have a field day, with an endless stream of Russia has become the first major country to call for a partial restoration of the Gold Standard to uphold discipline in the world financial system. Russia could adopt the same methods outlined above, with the additional benefit of a halving of interest rates. ” “Interestingly, both Russia and China publicize and promote their accumulations of gold and publicly refer to gold as a strategic monetary asset. 1,842. Furthermore, the vast majority of the people in Asia sees gold as superior, or ‘real’ money, something the West has forgotten, because of all the paper wealth (credit) they have accumulated,” said Grass. And since China is the largest importer of oil globally, this massive shift away from the petrodollar could be bad news for the U.


Are Russia & China Planning a Move to a Gold Standard? Robert Wenzel , Economic Policy Journal April 11, 2019 Both are buying an awful lot of the precious metal. So there is a shift occurring in terms of Russia and China building up their gold reserves, to maybe in future have gold-backed currencies, and to move away from the global dominance of the (unbacked by gold) US dollar. , with 8,134 tons — more than four times as much as China (1,808 tons), more than five times Russia’s 1,499 tons — followed by Germany with 3,380 tons, the IMF itself with 2,814 tons, Italy with 2,452 tons and France with 2,436 tons. This is certainly a game changer,” said Grass. dollar system with a new gold standard, as Western currencies such as the Euro and Dollar plunge. At the same time, the central banks of Russia and China are the world’s biggest gold buyers. And the second argument is that all this gold buying is pouring gas on the already red hot bull market gold, which makes for a special opportunity that doesn’t present itself often. The Chinese are preparing to launch an oil futures contract denominated in yuan and redeemable in gold. 30 Tonnes in the first quarter of 2019 from 1852. com on 12/9/17 It looks like Russia and China are leading the way for a new type of gold standard that rest of the BRICS nations would follow.


The interview also signifies that Russia, China, and other countries that understand that the United States uses the dollar's reserve currency status to control the markets and the world are working to restore gold to a superior reserve status. The creation of a new gold standard by BRICS is also a step to end the US dollar's domination of the global economy Russia & China could set international gold price based on physical gold trading Physically backed precious metals market spells the end of paper gold trade The level of trust between BRICS countries can help them establish intragroup gold trading, which would be 100 percent physically backed. The history of Richard Nixon taking the United States off the gold standard has been long enshrined The World's Next Gold Standard Will Come Through China And Africa, Not America. The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy Russia-China real gold standard means end of US dollar dominance The BRICS are considering an internal gold trading platform, according to Russian officials. By means of capitalism and sound economics, Russia is moving itself out of the global recession. The Russian central bank opened its first overseas office in Beijing on March 14, marking a step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system, and to phase-in a gold-backed standard of trade. Chinese and Russia have been accelerating and stockpiling their purchases of physical gold as well as stepping up global acquisitions of mining operations. China's leadership is not buying gold to go on the gold standard. Graph #4: Russia’s Central Bank Gold Reserves Not only has China been accumulating huge amounts of gold (on and off record), but they also launched their own international gold trading platform on the SGE. Russia-China real gold standard means end of US dollar dominance .


RT: Russia-China Gold Standard Would Bring to End Dollar's Dominance. 5 tons of gold to their coffers in 2018, according to the World Gold Council. Demand for gold remains stable. Putin: Russia-China Gold Standard Means Death Of US Dollar December 10, 2017 Sean Adl-Tabatabai News , World 3 Russian President Vladimir Putin has warned that the new Russia-China gold standard spells certain death of the US dollar within the next few years. Opinion: Why China and Russia are buying so much gold. The issuance of jumbo Chinese and Russian irredeemable bonds for domestic recycling of savings would also have the benefit of generating wealth for savers Putin | Russia China Gold Standard Means Death Of US Dollar Is The Return To A Gold Standard Inevitable? Gold $10,000 In Currency Reset As Russia China Gold Demand Overwhelms Gold Futures In other words, China and Russia are continuing to shift away from dollar-based trade, to commerce which will eventually be backstopped by gold, or what is gradually emerging as an Eastern gold standard, one shared between Russia and China, and which may day backstop their respective currencies. The massive gold buying and geopolitical strategies of Russia do confirm, in my opinion, this speculation. China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse,” he told RT. Well, its not so much as whether the currency exists, it is more about how many and which countries use it. Russia, China Lay Groundwork For BRICS Transactions in Gold (a gold payments standard) BRICS by the Numbers.


During the past 15 months China has increased its gold reserves by 70% to 1,700 tons, becoming the world's sixth country with largest reserves of gold. Russia is third after Australia with about 295 tons produced last year. Both, China and Russia, are also major shareholders in the Silk Road Gold Fund based in Shanghai, which lends money to countries across the Silk Road for mining development, splitting the proceeds with the country concerned. com. The latest Sino-Iranian rapprochement has prompted a lively debate regarding the new Eurasian “world order. However, when Russia and China agreed on their bilateral US$400 billion pipeline deal, China wished to, and did, pay for the pipeline with yuan treasury bonds, and then later for Russian oil in yuan. 27 Tonnes from 2000 until 2019, reaching an all time high of 1864. The world’s biggest official gold holder is the U. The post The role of gold-backed cryptocurrency in Russia appeared first on Coin Rivet. But now, China is looking to upset the current petrodollar system by introducing gold-backed “petroyuan” oil futures contracts.


dollar as the international reserve currency on Tuesday when Russia’s second biggest financial institution, VTB, signed a deal with the Bank of China to bypass the dollar and pay each other in domestic currencies. Russia-China Gold Standard Spells End Of US Dollar Dominance BRICS countries account for 40 percent of world’s population and around 23 percent of world’s domestic product, says expert RT - December 9, 2017 China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse,” he told RT. Gold Reserves in China increased to 1864. In 2016, Whether Russia will be the first country to re-introduce a gold standard since Nixon closed the gold window in 1971, or whether China will do so first, remains to be seen. As China and Russia Move Toward a Gold Standard, US Must Join Them or Counter with Bitcoin Russia and China Considering a Return to the Gold Standard. Russia & China Declare All Out War on US Petrodollar — Prepare for Exclusive Trade in Gold. China Puts Oil on a Gold Standard. Russian gold reserves, as officially reported, now total 1779 tonnes, and are now just 63 tonnes shy of the ‘official’ gold reserves of the Chinese central bank. The U. This article (Russia-China real gold standard means end of US dollar dominance) was originally published on RT News and syndicated by The Event Chronicle.


China Prepares To Launch Its Gold Convertible Petro-Yuan March 26, 2018: Five ‘Test Runs’ Have Successfully Completed. Russia and China ‘Furiously’ Buying Up Gold As “a Global Currency Crisis – Albeit Unstated – is Underway”. In a symbolic blow to U. At the same time, in recent years, there has been a constant voice in the market to implement the gold standard. Gold bars will be delivered directly to the official importers in China as well as through the exchange, Sberbank said. Historians are sure to have a field day, with an endless stream of China continues to hoard gold en masse. China dominates the world economy and has displaced the US as the world's most formidable economic powerhouse," he told RT. But for those who understand what’s really happening and how to act accordingly, this may be a rare opportunity to move at the right time. That is very bad news for the petro-dollar and for U. China and Russia Escalate War on US Dollar: Prepare for New BRIC Gold Standard.


30 Tonnes in the first quarter of 2019 and a record low of 395. A Eurasian Golden Triangle is emerging with China, Russia and Iran. Disclaimer: I am an engineer, not a CFA. In June, China imported 104. It is widely argued that the financial excesses and extreme debt leverage of the last quarter century would have been impossible - or less likely - under the discipline of gold. The world's fiat paper currencies have lacked any external anchor ever since. RT has the story Russia-China real gold standard means end of US dollar dominance. Similarly, Australia has just 280 metric tons of gold in its reserves, but it houses the largest gold mine reserves in the world along with the second largest gold producer. 50 Tonnes in the fourth quarter of 2018. Related: Russia, China and BRICS: A New Gold Trading Network China would be the first to adopt the gold standard, to be followed by Russia.


As two most prominent BRICS states Russia and China are the world’s two largest purchasers of gold and are in the international top ten nations in terms of gold reserves, with India only slightly further behind, it would seem logical for the BRICS to take the trading mechanisms into their own hands. Russia-China real gold standard means end of US dollar dominance. 01 Tonnes in the second quarter of 2000. William Engdahl notes. The South China Morning Post is also reporting that Russia and China will be making transfers between their gold trading platforms more open and efficient. Related Posts: Very Violent Reversal Before End of 2017 – James Rickards Russia-China real gold standard means end of US dollar dominance The BRICS counties are considering starting an internal gold trading platform, according to Russian officials. Gold Reserves in China averaged 970. It is quite interesting to see the record amount of gold being exported from Australia to China as talks increase about a new Chinese-Russian gold-backed currency. Gold and silver rise. In any case, it makes perfect sense, so it seems to be a matter of time.


But on the flipside, the US does the opposite, and constantly downplays the strategic role of gold. Comex futures market and also, potentially, gold ETFs, to be a significant impediment to using gold as a standard of currency value. The creation of a new gold standard by BRICS is also a step to end the US dollar’s domination of the global economy RT has the story Russia-China real gold standard means end of US dollar dominance. For Americans who still haven’t woken up to the incredible potential of gold, this news of China and Russia’s plan to assassinate the dollar would be terrifying. The Chinese are hoping that by starting to assimilate the yuan futures contract for oil, facilitating the payment of oil in yuan, the hedging of which will be done in Shanghai, it will allow the yuan to be perceived as a primary currency for trading oil. ” China dominates the world economy and has displaced the US as the world’s most formidable economic powerhouse,” he told RT. Related: Russia, China and BRICS: A New Gold Trading Network Governments added 651. The BRICS countries could help them establish gold trading among the nations, which would be 100 percent physically backed. “But now both these nations hold a combined 3670 tons of gold. dollar.


China, Russian Combined Gold Reserves to Establish New Gold Standard. Russia, though it is a major gold producer, had a smaller gold hoard than tiny Netherlands, at well under a thousand tons. It appears that both sides are getting closer to recognizing the estimated $700 billion gap in the financing of African Small and Medium sized enterprises (SMEs) as the way to go. 6 tonnes from Hong Kong. Russia-China Real Gold Standard Means End Of Us Dollar Dominance. During the crisis, the price of gold grows, El Pais says. For example, China ranks relatively low on the list of gold reserves, but it is mining more new gold than any other country. “Convertibility into gold” means a gold standard because, after all, gold is money and it has a 5,000 year history as such. 2 billion yuan. china russia gold standard

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