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Monday, September 3, 2012

We could be losing the US dollar reserve status soon


If Gold goes to record highs silver will outperform gold again!

If the US Federal Reserve Note falls as the world's reserve currency for trade as this article suggests, and gold becomes the standard the price will have to be extremely high. What will the price of silver be then? With Gold at $1694 today and silver at $32.23 that makes the ratio over 52 to 1. Even at that ratio silver would be $192 per ounce with $10,000 per ounce gold, but the ratio will change. If the manipulation stops, which it surly will in a scenario like we are talking about, the ratio will go back to what it was for decades to about 16 to 1. At that ratio with $10,000 gold silver would be $625 per ounce.
The ratio could easily go lower than 16 to 1. At one point it was 10 to 1, and right now there is much more useable gold above ground than silver.
The use of silver in industry guarantees that it will be in very short supply indeed.
 
Think it can't happen?  Read the article below and follow the links.
Paul Stramer

Sent: Monday, September 03, 2012 8:11 AM
Subject: We could be losing the US dollar reserve status soon

According to an article, China is recasting all of their gold reserves into small one kilo bars in order to issue a new gold-backed currency. Many say this will disrupt global trade and will eventually cause a collapse of the US dollar.

There can be no doubt that the US dollar will soon be history. China is recasting all of their gold reserves into small one kilo bars in order to issue a new gold backed global currency. This is surely a strategic part of their recent push to sign new trade agreements with Russia, Japan, Chile, Brazil, India, and Iran. The cat is now out of the bag, the US will be given the bums rushby the largest trading nations in the world and the dollar will go down in flames. GATA now estimates that 80% of the gold that investors believe they have in allocated accounts is long gone, the majority of it probably wound up in China.

China is well along an ambitious plan to recast large gold bars into smaller 1-kg bars on a massive scale. A major event is brewing that will disrupt global trade and assuredly the global banking system. The big gold recast project points to the Chinese preparing for a new system of trade settlement. In the process they must be constructing a foundation for a possible new monetary system based in gold that supports the trade payments. Initially used for trade, it will later be used in banking. The USTBond will be shucked aside. Regard the Chinese project as preliminary to a collapse in the debt-based US Dollar system. The Chinese are removing thousands of metric tons of gold bars from London, New York, and Switzerland. They are recasting the bars, no longer to bear weights in ounces, but rather kilograms. The larger Good Delivery bars are being reduced into 1-kg bars and stored in China. It is not clear whether the recast project is being done entirely in China, as some indication has come that Swiss foundries might be involved, since they have so much experience and capacity.

The story of recasting in London is confirmed by my best source. It seems patently clear that the Chinese are preparing for a new system for trade settlement system, to coincide with a new banking reserve system. They might make a sizable portion of the new 1-kg bars available for retail investors and wealthy individuals in China. They will discard the toxic US Treasury Bond basis for banking. Two messages are unmistakable. A grand flipped bird (aka FU) is being given to the Western and British system of pounds and ounces and other queer ton measures. But perhaps something bigger is involved. Maybe a formal investigation of tungsten laced bars is being conducted in hidden manner. In early 2010, the issue of tungsten salted bars became a big story, obviously kept hush hush. The trails emanated from Fort Knox, as in pilferage of its inventory. The pathways extended through Panama in other routes known to the contraband crowd, that perverse trade of white powder known on the street as Horse & Blow, or Boy & Girl.


Read more: http://www.indiavision.com/news/article/business/339477/china-launching-gold-backed-worldwide-currency--now-the-americans-will-have-to-find-a-reason-to-go-to-war-against-china-/#ixzz25Pq6Qpu4

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