Discussion in 'China & Far East' started by onebyone, Yesterday at 10:50 AM.
This is coming for better or for worse. It will mean to a laid back stupefied world that China has a store of gold much greater than what is reported. What will be interesting is how it plays for the rest of the fiat currencies given that the curriculum of currency hubs established that has strict protocol for trading say dollars for yuan as to origin. Forget derivative originated money for exchange as an example. Toilet paper.
One might imagine a serious liquidity squeeze in various currencies where printed currency cannot be transferred into gold backed Yuan. Because then every holding in non convertible currency against the Yuan would have a fiat value as opposed to a convertible gold value in Yuan and therefore be worthless to hold in comparison. That will rip the Butt of the DC and Wall Street Hymies. We could see a 30 % or more devaluation in USD which would cause tremendous upheaval. Should this be the case much will happen before that date. And no doubt such a move will flatten the tires of most central banks who have adopted printing as a solution to historical mistakes and current foolishness.
Yanks will roll out their tanks. But can’t fund the fuel to run them now.
When the US takes a 30% living standard cut, who will carry the illegals then?
Starting with the Kenyan Rug Rat.
Source: http://defence.pk/threads/china-plans-to-launch-yuan-denominated-gold-fix-on-april-19.426755/#ixzz45uVwg19fChina plans to launch Yuan-denominated gold fix on April 19
By Meimei Qin (Updated to include background on banks that may participate in the yuan-denominated fixing)
London 25/02/2016 – China plans to launch its new yuan-denominated gold pricing fix on April 19 this year, sources familiar with the matter said on Thursday.
The launch date has been officially settled and draft trading rules have been sent out to those banks that will be involved in the Shanghai fixing, FastMarkets understands.
The banks that will participate in the planned launch are predominently Chinese but FastMarkets understands that foreign banks could also be involved, according to sources.
It is likely that the 10 banks that are official market makers in the system set up by the SGE in January to facilitate interbank gold trading will participate in the yuan-denominated fixing, one source said.
Most Chinese banks in the list of ‘official’ market makers probably will be involved in the fix, the source noted, alongside one foreign bank.
The 10 ‘official’ market makers are ICBC, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, China CITIC Bank, China Merchants Bank, Industrial Bank Co, Bank of Ningbo and ANZ (China).
The SGE is looking to bring more foreign banks on broad, a well-informed source said.
The new benchmark will be run through the state-owned Shanghai Gold Exchange (SGE), the world’s largest physical gold exchange.
The SGE declined to comment.
Source: The Bullion Desk
Via: One World of Nations
China plans to launch Yuan-denominated gold fix on April 19 » The Event Chronicle After Emergency Federal Reserve Meeting Today, Obama and Biden to Meet with Yellen! Rumor: Martial Law Discussions for Banking Failure
Monday, April 11, 2016 5:24 An Exclusive You Have To See: The Last Frontier of Free Press Is Here! No More Censorship, Unlike YouTube and Others! Facebook’s Diabolical New Initiative Is Causing Mass Exodus—1000s Shut Down As They Discover…
UPDATE: LAST MINUTE NEWS : After Emergency Federal Reserve Meeting TODAY, Obama and Biden to Meet with Yellen! Rumor: Martial Law Discussions for Banking Failure
RUMORS swirling say “Martial Law discussions over a banking system failure.” are the reason President Obama and Vice President Biden are to meet with Fed. Chair Janet Yellen today after the Federal Reserve’s Emergency Meeting this morning. In the history of the United States, it has never before taken place that both the President AND Vice President meet “unexpectedly” with the Federal Reserve. Speculation is already flowing all over Washington, DC that it may have something to do with “the survival of the government.”
Members of the House and Senate are said to have been “up all night” in discussions and meetings; with floods of phone calls back and forth.
More: Tuesday and Wednesday the G20 Finance Ministers and Central Bank Governors meet in DC and on Thursday the IMF and World Bank meet in DC as well. All the leading bankers in the world will be in DC this week.
Something wicked this way comes and it is coming very, very soon; within days we suspect.
Next Tuesday: The Chinese are scheduled to announce their switch from dollar to yuan on Tuesday, April 19th; which will send about two TRILLION in cash back to the US and send inflation skyrocketing overnight. If you are not prepared, you have run out of time.
You need to have emergency cash to live on in case banks close for a couple weeks and shut down credit, debit cards and ATM’s; not cash to pay your bills, but rather cash to SURVIVE with for food, fuel, medicine.
Stores may have to close, so you’d better have food, the shelf-stable type that doesn’t go bad: 50lb Bag(s) of rice, Boxes of various Pasta, canned meats, jarred sauces. Butter, sugar, salt etc. Enough to survive for awhile just in case. More details if and when they become available.
While today’s Expedited meeting of the federal reserve was called last Thursday, over the weekend astonishing banking developments took place in Europe.
Austria became the first European nation to utilize the new “Bail-in” regulations, seizing 54% of Senior Bondholders stock value to pay the bad debts of Hypo Alpe Adria bank / the Heta Asset Resolution AG. While senior bond holders were considered “preferred” creditors and got 46% of their investment covered, Depositors were considered “subordinated” creditors and got: NOTHING! Citizens were left broke.
Five hours later, the Finance Minister of Italy called an Emergency Meeting of Italian Bankers in Rome to engage what he called a “last resort” to deal with 360 Billion in bad loans against banks with only 50 Billion in Capital.
READ-BREAKING: America’s First City RULED By Sharia Law..Welcome to the Caliphate America!
It appears an actual worldwide banking crisis is lIterally within view on the horizon and this week seems to be when all of it may come to ahead. Perhaps that’s why the Finance Ministers of the G-20 nations will meet in Washington Tuesday and Wednesday, and then on Thursday, the World Bank and IMF will meet in Washington.
With every major banker in the world meeting in Washington this week, something is surely “up,” and many people are starting to think the general public is about to get “hosed.”
Source:http://www.newsprepper.com/emergency-federal-reserve-meeting-today-obama-biden-meet-yellen-rumor-martial-law-discussions-banking-failure/#.VwuW_pyLTct An Exclusive You Have To See: The Last Frontier of Free Press Is Here! No More Censorship, Unlike YouTube and Others! Facebook’s Diabolical New Initiative Is Causing Mass Exodus—1000s Shut Down As They Discover…
After Emergency Federal Reserve Meeting Today, Obama and Biden to Meet with Yellen! Rumor: Martial Law Discussions for Banking Failure | Self-Sufficiency
Thanks to: http://defence.pk/threads/china-plans-to-launch-yuan-denominated-gold-fix-on-april-19.426755/