( Note: We realize that many links on this post are incomplete or broken on these posts.....but thats how they came from the source...We apologize for the inconvenience! Dinar Recaps)
hunter35] DiddyKong Are you open to questions tonight?
[DiddyKong] There was a comment or recaps by KevinD53 which is absolutely excellent. It showed me that I needed to elaborate more on the China and gold discussion. Kevin, if you are in this room or see this message on recaps, please join into the convo. Your comment is some good stuff!
[DiddyKong] hunter35 I will be after I address Kevin's comment
[DiddyKong] This is what Kevin said everyone: According to the World Gold Council, China is only the fifth largest holder of Gold, well behind Italy, France, Germany and the US in that order.
....
hunter35] DiddyKong Are you open to questions tonight?
[DiddyKong] There was a comment or recaps by KevinD53 which is absolutely excellent. It showed me that I needed to elaborate more on the China and gold discussion. Kevin, if you are in this room or see this message on recaps, please join into the convo. Your comment is some good stuff!
[DiddyKong] hunter35 I will be after I address Kevin's comment
[DiddyKong] This is what Kevin said everyone: According to the World Gold Council, China is only the fifth largest holder of Gold, well behind Italy, France, Germany and the US in that order.
....
They hold 1/8 the amount the US does, with the remaining three combined holding roughly the same amount as the US. BTW, the US holdings of a little over 8,000 tons of gold is a little over a quarter of the total world wide holdings.
[DiddyKong] That leaves us to question, how could China possibly control the gold price if it doesn't hold so much gold.
[DiddyKong] Let's start with this article which I am sure is or had derived its information to what Kevin is refering to: Top 10 nations stockpiling gold - http://www.usatoday.com/
[DiddyKong] " 5. China The world's second-largest economy holds 1,054.1 tonnes of gold, which represents only 1.1% of its reserves. However, this underestimates China's true holdings. The People's Bank of China has not formally disclosed any changes to its gold holdings in years, and it's widely believed that the central bank is purchasing gold to diversify its reserve holdings."
[DiddyKong] The keyword here is "underestimates", why?.... I will elaborate.
[DiddyKong] China spurns gold, adding to price woes (Sept 28, 2014) -http://www.mining.com/
[DiddyKong] "The country's gold reserves are officially put at 1,054 tonnes — a number officials haven't updated since 2009."
[DiddyKong] Since 2009 mind you lol!
[DiddyKong] lets look at the China gold plan according to Song Xin, General Manager of the China National Gold Group Corporation, Party Secretary and President of the China Gold Association
[DiddyKong] (Song Xin) is the name lol
[DiddyKong] Gold Will Support Renminbi As It Moves To Join World (May 6, 2014) - http://www.mineweb.com/
[DiddyKong] "For China, the strategic mission of gold lies in the support of RMB internationalization, and so let China become a world economic power and make sure that the "China Dream" is realized. It's both a very 'honest' asset and forms the very material basis for modern fiat currencies"
[DiddyKong] And there is more from that same website, "China should aim for 8,500t gold reserve - China Gold president"
DiddyKong] "China should accumulate 8,500 tonnes in official gold reserves, more than the US, according to Song Xin, President of the China Gold Association, General Manager of the China National Gold Group Corporation and Party Secretary. He wrote this in an opinion editorial published on Sina Finance July 30, 2014."
[DiddyKong] " Gold is moneypar excellence in all circumstances and will help support the renminbi to become an international currency as "gold forms the very material basis for modern fiat currencies", Song notes. In the short term the Chinese will not back the renminbi with gold (establish a fixed renminbi price for gold), but support the renminbi with an appropriate amount of gold in reserve to allot credibility and manage its value."
[DiddyKong] The question then becomes, if China is not stockpiling gold in its reserves, then how can it "instantly" (in a sense) acquire more gold in its reserves than the U.S....
[DiddyKong] this is how...
[DiddyKong] "China Expected To Announce It Has More Than Doubled Its Gold Reserves", Shanghai Daily - http://www.zerohedge.com
[DiddyKong] "The topic of China's below the radar accumulation of gold is nothing new: first revealed here in September 2011 as part of a Wikileaks intercept, watchers of Chinese gold imports have been stunned by the ravenous pace with which Chinese customers have been gobbling up both domestic and foreign gold production month after month."
[DiddyKong] "One needs merely to glance at the net imports of gold just through Hong Kong to get a sense of just how much gold has flowed into the country which has now surpassed India as the largest buyer of gold."
[DiddyKong] Bum bum bum....... HONG KONG! Does everyone see that connection with running gold through Hong Kong with the protest that are happening today?!
[DiddyKong] The people of China (Asia to be more general) understand the importance and value of gold for a stable economy. And I have one more item to post...
[DiddyKong] China allows gold imports via Beijing, sources say, amid reserves buying talk - http://www.reuters.com/
[DiddyKong] "China has begun allowing gold imports through its capital Beijing, sources familiar with the matter said, in a move that would help keep purchases by the world's top bullion buyer discreet at a time when it might be boosting official reserves."
[DiddyKong] Key word is here, "discreet".
[DiddyKong] What do we know of bullion dealers? They have vaults with vast amount of space for storing gold. How much gold do they have? Who knows, but if and when China chooses to, they can purchase that gold from its dealers and add it to reserves. DING DING DING
[DiddyKong] So you will not see China importing gold and adding it to its reserves when the gold is already sitting there HAHAHAHA
[DiddyKong] Last point from the same article, "rumours on the People's Bank of China's (PBOC) gold reserves range from 3,000 tonnes to 5,000 tonnes."
[DiddyKong] Just follow the money, real money. So just follow the movement of gold. Not just what government officials are doing, else, you miss what is going on behind the curtains on the activities of a nations businesses and its people.
[DiddyKong] And that brings us back to why it is important for the bills to be passed as laws in the U.S. to remove taxes from gold and silver purchases... in hopes that people safeguard there wealth AND a shift towards legalizing the use of gold and silver as tender
[DiddyKong] Let's get with it America
[DiddyKong] Thats all I have. Let's open the floor for questions and comments.
[hunter35] DiddyKong China does not want the world to know how much gold they really have. Is this the payback from WWII
[DiddyKong] hunter35 no. And that is another great question. I will address it.
[Betsy Ross] DiddyKong Do you remember Jester saying that the US no longer has any more gold not too long ago?
[Betsy Ross] DiddyKong I brought that up because it conflicts with what you posted above.
[lulu] Diddy kong I would like to see the proof that America has 8000 tons of gold that belong to them when they won't even show Germany their gold that they are supposedly holding for them
[DiddyKong] lulu exactly. If you choose to believe that China does not have that much gold, then you must also believe that the US holds some 8,000+ tonnes of gold lol
[DiddyKong] That leaves us to question, how could China possibly control the gold price if it doesn't hold so much gold.
[DiddyKong] Let's start with this article which I am sure is or had derived its information to what Kevin is refering to: Top 10 nations stockpiling gold - http://www.usatoday.com/
[DiddyKong] " 5. China The world's second-largest economy holds 1,054.1 tonnes of gold, which represents only 1.1% of its reserves. However, this underestimates China's true holdings. The People's Bank of China has not formally disclosed any changes to its gold holdings in years, and it's widely believed that the central bank is purchasing gold to diversify its reserve holdings."
[DiddyKong] The keyword here is "underestimates", why?.... I will elaborate.
[DiddyKong] China spurns gold, adding to price woes (Sept 28, 2014) -http://www.mining.com/
[DiddyKong] "The country's gold reserves are officially put at 1,054 tonnes — a number officials haven't updated since 2009."
[DiddyKong] Since 2009 mind you lol!
[DiddyKong] lets look at the China gold plan according to Song Xin, General Manager of the China National Gold Group Corporation, Party Secretary and President of the China Gold Association
[DiddyKong] (Song Xin) is the name lol
[DiddyKong] Gold Will Support Renminbi As It Moves To Join World (May 6, 2014) - http://www.mineweb.com/
[DiddyKong] "For China, the strategic mission of gold lies in the support of RMB internationalization, and so let China become a world economic power and make sure that the "China Dream" is realized. It's both a very 'honest' asset and forms the very material basis for modern fiat currencies"
[DiddyKong] And there is more from that same website, "China should aim for 8,500t gold reserve - China Gold president"
DiddyKong] "China should accumulate 8,500 tonnes in official gold reserves, more than the US, according to Song Xin, President of the China Gold Association, General Manager of the China National Gold Group Corporation and Party Secretary. He wrote this in an opinion editorial published on Sina Finance July 30, 2014."
[DiddyKong] " Gold is moneypar excellence in all circumstances and will help support the renminbi to become an international currency as "gold forms the very material basis for modern fiat currencies", Song notes. In the short term the Chinese will not back the renminbi with gold (establish a fixed renminbi price for gold), but support the renminbi with an appropriate amount of gold in reserve to allot credibility and manage its value."
[DiddyKong] The question then becomes, if China is not stockpiling gold in its reserves, then how can it "instantly" (in a sense) acquire more gold in its reserves than the U.S....
[DiddyKong] this is how...
[DiddyKong] "China Expected To Announce It Has More Than Doubled Its Gold Reserves", Shanghai Daily - http://www.zerohedge.com
[DiddyKong] "The topic of China's below the radar accumulation of gold is nothing new: first revealed here in September 2011 as part of a Wikileaks intercept, watchers of Chinese gold imports have been stunned by the ravenous pace with which Chinese customers have been gobbling up both domestic and foreign gold production month after month."
[DiddyKong] "One needs merely to glance at the net imports of gold just through Hong Kong to get a sense of just how much gold has flowed into the country which has now surpassed India as the largest buyer of gold."
[DiddyKong] Bum bum bum....... HONG KONG! Does everyone see that connection with running gold through Hong Kong with the protest that are happening today?!
[DiddyKong] The people of China (Asia to be more general) understand the importance and value of gold for a stable economy. And I have one more item to post...
[DiddyKong] China allows gold imports via Beijing, sources say, amid reserves buying talk - http://www.reuters.com/
[DiddyKong] "China has begun allowing gold imports through its capital Beijing, sources familiar with the matter said, in a move that would help keep purchases by the world's top bullion buyer discreet at a time when it might be boosting official reserves."
[DiddyKong] Key word is here, "discreet".
[DiddyKong] What do we know of bullion dealers? They have vaults with vast amount of space for storing gold. How much gold do they have? Who knows, but if and when China chooses to, they can purchase that gold from its dealers and add it to reserves. DING DING DING
[DiddyKong] So you will not see China importing gold and adding it to its reserves when the gold is already sitting there HAHAHAHA
[DiddyKong] Last point from the same article, "rumours on the People's Bank of China's (PBOC) gold reserves range from 3,000 tonnes to 5,000 tonnes."
[DiddyKong] Just follow the money, real money. So just follow the movement of gold. Not just what government officials are doing, else, you miss what is going on behind the curtains on the activities of a nations businesses and its people.
[DiddyKong] And that brings us back to why it is important for the bills to be passed as laws in the U.S. to remove taxes from gold and silver purchases... in hopes that people safeguard there wealth AND a shift towards legalizing the use of gold and silver as tender
[DiddyKong] Let's get with it America
[DiddyKong] Thats all I have. Let's open the floor for questions and comments.
[hunter35] DiddyKong China does not want the world to know how much gold they really have. Is this the payback from WWII
[DiddyKong] hunter35 no. And that is another great question. I will address it.
[Betsy Ross] DiddyKong Do you remember Jester saying that the US no longer has any more gold not too long ago?
[Betsy Ross] DiddyKong I brought that up because it conflicts with what you posted above.
[lulu] Diddy kong I would like to see the proof that America has 8000 tons of gold that belong to them when they won't even show Germany their gold that they are supposedly holding for them
[DiddyKong] lulu exactly. If you choose to believe that China does not have that much gold, then you must also believe that the US holds some 8,000+ tonnes of gold lol
Part 2
DiddyKong] I do not know if any of you caught this while it was live early this morning, but here is a recording 'RUSSIA CALLING!' Putin's full speech, Q&A at key investor forum - https://www.youtube.com/ ••• GKuLugmE (sorry- link is broken)
[Betsy Ross] DiddyKong saw it but did not listen due to timing
[DiddyKong] It is pretty lengthy, put the most important point I picked up from it was that (and paraphrasing) that Russia and China (BRICS for that matter) does not want to limit or restrict the foreign businesses and trade partner relationships. This is important as it allows us to understand that they want as much of its trading partners to get on par with BRICS economic fundamentals
....
[Betsy Ross] DiddyKong saw it but did not listen due to timing
[DiddyKong] It is pretty lengthy, put the most important point I picked up from it was that (and paraphrasing) that Russia and China (BRICS for that matter) does not want to limit or restrict the foreign businesses and trade partner relationships. This is important as it allows us to understand that they want as much of its trading partners to get on par with BRICS economic fundamentals
....
DiddyKong] If China was to announce, today, how much gold it has in reserves and take control of gold price setting, it would mean an alarming economic instability for nations who do not share the same gold fundamentals as China.
[DiddyKong] Meaning that if you do not have so much of a percentage of reserves in gold, you have better have some other kind of worth while asset (like oil) to back up the wealth of your nation.
[DiddyKong] Betsy Ross I remember that. The US and other western nations could very well not have, or not so much of, gold in its reserves. And there is a shift to get gold in reserves like the Swizz for 20% of reserves in gold like I mentioned before. That is the connection.
[Betsy Ross] DiddyKong ok
[lulu] Diddy Kong China also mines gold and it goes to the country which is another reason no one knows how much gold they really have
[DiddyKong] lulu another excellent point. Analysis tries to determine how much gold China imports. Mining gold in country is total different and gets ignored lol
[DiddyKong] The Swizz referendums to get gold to be 20% of its reserves (in house) and gold as legal tender as it would mean to the signal for nations to start preparing. That, IMMHO, is the GCR
[Betsy Ross] DiddyKong so by saying the US has no gold means none in reserves, is that what you are saying?
[DiddyKong] Betsy Ross Correct. Mind you, this is the FED's not having gold in reserves. This does not include the US banks and people as they make a push to remove taxes from gold and silver and legal tender.
[lulu] It's like a big poker game someone needs to call the Feds bluff
[DiddyKong] I would assume that is why COMEX has its restrictions on how much paper can be used to claim actual physical gold. Shanghai on the other hand is all physical gold. And thats the shift of power to then control the price
[DiddyKong] lulu The bluff has been called. That is why I say we now wait for China to reveal its hand
[DiddyKong] China lays its cards on the table, then the Fed will fold
[Betsy Ross] DiddyKong ok
[Betsy Ross] DiddyKong so that does not mean that the US Treasury may not have some. Hmmm
[DiddyKong] But BRICS wants to be sure that everyone else is ready for it to show its hand. Because let's face it, trade today is interconnected
[TxBikerLady] DiddyKong are you familiar with Jim Rickards Project Prophecy - this goes along with the current topic
[DiddyKong] Betsy Ross That is an interesting question, and I would have to further research that to deliver an answer
[Betsy Ross] DiddyKong Thanks
[DiddyKong] TxBikerLady Not exactly. I do follow some of his work. Could you explain it more?
[lulu] I read in an article that I posted last week that the dragon family was supposed to have their gold returned to them on Sept 12, 2001 the day after 9/11. 2.3 trillion is announced missing on the 10th , 9/11 happens and all the gold supposedly under the twin towers goes missing I highly doubt America has any gold. This after they gave China a tungsten filled gold bars
[DiddyKong] lulu lol and that is (er was) a conspiracy that is proven to be more true as time progresses
[DiddyKong] Meaning that if you do not have so much of a percentage of reserves in gold, you have better have some other kind of worth while asset (like oil) to back up the wealth of your nation.
[DiddyKong] Betsy Ross I remember that. The US and other western nations could very well not have, or not so much of, gold in its reserves. And there is a shift to get gold in reserves like the Swizz for 20% of reserves in gold like I mentioned before. That is the connection.
[Betsy Ross] DiddyKong ok
[lulu] Diddy Kong China also mines gold and it goes to the country which is another reason no one knows how much gold they really have
[DiddyKong] lulu another excellent point. Analysis tries to determine how much gold China imports. Mining gold in country is total different and gets ignored lol
[DiddyKong] The Swizz referendums to get gold to be 20% of its reserves (in house) and gold as legal tender as it would mean to the signal for nations to start preparing. That, IMMHO, is the GCR
[Betsy Ross] DiddyKong so by saying the US has no gold means none in reserves, is that what you are saying?
[DiddyKong] Betsy Ross Correct. Mind you, this is the FED's not having gold in reserves. This does not include the US banks and people as they make a push to remove taxes from gold and silver and legal tender.
[lulu] It's like a big poker game someone needs to call the Feds bluff
[DiddyKong] I would assume that is why COMEX has its restrictions on how much paper can be used to claim actual physical gold. Shanghai on the other hand is all physical gold. And thats the shift of power to then control the price
[DiddyKong] lulu The bluff has been called. That is why I say we now wait for China to reveal its hand
[DiddyKong] China lays its cards on the table, then the Fed will fold
[Betsy Ross] DiddyKong ok
[Betsy Ross] DiddyKong so that does not mean that the US Treasury may not have some. Hmmm
[DiddyKong] But BRICS wants to be sure that everyone else is ready for it to show its hand. Because let's face it, trade today is interconnected
[TxBikerLady] DiddyKong are you familiar with Jim Rickards Project Prophecy - this goes along with the current topic
[DiddyKong] Betsy Ross That is an interesting question, and I would have to further research that to deliver an answer
[Betsy Ross] DiddyKong Thanks
[DiddyKong] TxBikerLady Not exactly. I do follow some of his work. Could you explain it more?
[lulu] I read in an article that I posted last week that the dragon family was supposed to have their gold returned to them on Sept 12, 2001 the day after 9/11. 2.3 trillion is announced missing on the 10th , 9/11 happens and all the gold supposedly under the twin towers goes missing I highly doubt America has any gold. This after they gave China a tungsten filled gold bars
[DiddyKong] lulu lol and that is (er was) a conspiracy that is proven to be more true as time progresses
[TxBikerLady] DiddyKong here is a link to an interview to watch some other time. CIA INSIDER LEAKS EVIDENCE OF CHINA GOLD “SMUGGLING” He is CIA’s Financial Threat and Asymmetric Warfare Advisor http://moneymorningtv.com
[DiddyKong] TxBikerLady thanks Im listening
[TxBikerLady] DiddyKong http://www.kereport.com/
[TxBikerLady] DiddyKong I just stumbled on this tonight. it is un-vetted, but has my attention
[DiddyKong] TxBikerLady lol that supports the statement from the article I just posted "China allows gold imports via Beijing, sources say, amid reserves buying talk" - http://www.reuters.com/a ••• 20140420
[DiddyKong] "Rumours on PBOC's gold reserves range from 3,000 tonnes to 5,000 tonnes."
[TxBikerLady] DiddyKong yeppers lol Jim Rickards has a book, The Death of Money too
[DiddyKong] TxBikerLady I wish he titled it "The Death of the Petrodollar"
[TxBikerLady] DiddyKong Ha...that is one of his points in his message
[hunter35] lulu lulu That was the gold from WWII
[TxBikerLady] TxBikerLady Money vs Currency
[DiddyKong] TxBikerLady yea, but I understand why he titled it "The Death of Money". People tend to understand paper as being the only form of money
[[hunter35] DiddyKong So was the China's gold from WWII really stored under the Twin Towers??
[DiddyKong] hunter35 That is the assumption. And supposedly, China got it back
[hunter35] DiddyKong Hmmm When did they get it back
[TxBikerLady] DiddyKong it was on the missing Malaysian plane lol just kidding
[Betsy Ross] DiddyKong really? Hmmm
[DiddyKong] hunter35 afterward and during the article TxBikerLady postedhttp://www.kereport.com/ ••• sting-2/
[lulu] DiddyKong did you read financial Tyranny by David Wilcock?
[DiddyKong] lulu no I haven't. Care to elaborate?
[DiddyKong] lulu can you provide a brief summary?
[DiddyKong] The worrying part of Jim Rickards prophecy goes hand in hand with what I was talking about with gold and silver as legal tender. If China makes its move before US banks are ready with gold and silver in reserves and accounts backed by gold and silver, then it could mean bad news for Americans. That would be when you would see a major correction of stock values and everything else as he mentions in the video
[DiddyKong] But as I understand it, it is not the intentions of BRICS to put everyone in a economic crisis. And that makes sense....
[lulu] Ok DK I know it's not completely accurate but his life was threatened for this article http://divinecosmos.com/ ••• -tyranny
[TxBikerLady] DiddyKong true...I took the interview with a grain of salt,,so to speak. He is CIA after all. But, the message was similar, a different spin at eh end result perhaps. I still like to hear the 'other' side. I don't believe he speaks of BRICS. Like I mentioned, just ran across it tonight.
[lulu] DK it's about all the gold moved to the US for safety during the war and the problems all the countries have had trying to get theirs back
[DiddyKong] TxBikerLady I will say that what he speaks of is an extreme scenario with regards that no one else has prepared with gold in reserves
[DiddyKong] lulu yup, which begs the question if the FED has any gold at all
[TxBikerLady] DiddyKong agreed, the very hard plan b lol
[lulu] I liked the article because it names the crooks lol
[DiddyKong] TxBikerLady yea lol. And it does not make any sense to crush the finances of your customers just to make your business rich. Without customers, your business will eventually fold as well
[TxBikerLady] DiddyKong good point
[DiddyKong] Thats why China will not make a move until ready. Which is also why when ppl say "GCR to happen on this and this date" it makes absolutely no sense lol
[DiddyKong] and that is what the situation is. I would assume that China, and BRICS for that matter, how guage who (or a certain percentage) of its trade partners they need to be ready. The bigger picture is understand who all the players are, what they have to offer.
[DiddyKong] So, it is 67%, 83%, or 93% (examples) of the people of various nations that need to be ready for China to pull the lever or what? Like how could ppl know that answer lol
[Goose] DiddyKong that's kinda good news thanks
[DiddyKong] For example, 78% of Americans and institutions are prepared with gold and silver (check in the box), 56% of the Swizz are prepared (we need 80% to check that one off the list), etc. etc..... once everything checks off the list, then BOOM.
[DiddyKong] But at the same time, there are events that occur that could either hinder the process of nations getting ready or nations that were once ready fall in the "not ready" status. Thats the fluidity of it all
[DiddyKong] So some glitch in the system or pings in the background is non sense. Plain and simple, THINGS ARE NOT READY BUT ARE GETTING THERE!
[BocaLinda] Diddykong do you have a guesstimation?
[TxBikerLady] The exciting thing is we are able to watch it happening and can tell if it one step forward or not now.
[DiddyKong] BocaLinda I wish I could. Why I can't is because I have not seen a signal from BRICS to: 1. Announce dumping of the dollar. 2. Announce official reserves of gold. 3. Provide a time frame or date for BRICS to take over gold pricing. 4. Provide a time frame or date to reach a certain target of gold reserves to be more than the U.S.
many of these announcements won't be of a plan, it would be an announcement of "the time is now" then everything changes over nite
[lulu] I think if the US has so much gold they had better start showing it. London has it lets face it
many of these announcements won't be of a plan, it would be an announcement of "the time is now" then everything changes over nite
[DiddyKong] You won't get a warning of the moment for things to change, but we understand that things will change at some point in time, and it would be best for us to prepare for when that moment comes.
[DiddyKong] And that is not a BS answer because I am not some guy "in the know". That is just truth.
[DiddyKong] It would be like trying to predict the BIG ONE to hit Cali lol
[TxBikerLady] DiddyKong I'm not sure how to look into that
[lulu] And even if the US did have it it is sold so many times over in paper certificates it is worthless
[TxBikerLady] DiddyKong were you able to look into if the BRICS New Development Bank plays a significant par
[DiddyKong] TxBikerLady it does. You can think of it like the IMF supposedly that won't blackmail you for not owing on debts due to some malicious event that was manufactured from keeping you of doing so lol
[TxBikerLady] DiddyKong it opens in 2016
[DiddyKong] lulu that is an interesting point! It works just like fractional reserve banking, in respect to that there are so many claims to any number of ounces in gold that owners actually own a percentage. For example, a 1 ounce gold certificate could be so 100's of times to where any one person would have ownership of only a very, very, very, very, very......... (two week later).... very, very small percentage lol
[TxBikerLady] A gold certificate in general is a certificate of ownership that gold owners hold instead of storing the actual gold. It has both a historic meaning as a U.S. paper currency (1863–1933) and a current meaning as a way to invest in gold. Banks may issue gold certificates for gold that is allocated (non-fungible) or unallocated (fungible or pooled). Unallocated gold certificates are a form of fractional reserve banking and do not guarantee an equal exchange for metal in the event of a run on the issuing bank'
[lulu] DK and let's say everyone who owned a certificate decided to cash in? What would happen
[DiddyKong] TxBikerLady yes, thank you for the definition. And the theory behind it (which seems more like fact now) is that there are more certs. issued than actually physical gold available.
[TxBikerLady] DiddyKong yes!
[DiddyKong] That is why the Shanghai gold exchange is so economically and fundamentally ground shaking to the COMEX infrastructure
[DiddyKong] So that is pretty much all I have for today. Wanted to elaborate on how China could quickly acquire much more gold than the U.S. despite the official numbers of gold reserves that was released in 2009.
[BocaLinda] Diddykong. Thank you so much for all the valuable info!!!
[DiddyKong] which is quite comical when you look at it all lol
[Betsy Ross] DiddyKong Another great educational night.
[TxBikerLady] lulu ah... They have reported on a massive discrepancy in China’s official gold consumption data for 2013: a 500-ton “gap” between production/imports and demand. These publications pointed to this as evidence that the People’s Bank of China is buying gold secretly… and then lying about it. Rickards explained the reason China has been going to such great lengths to conceal this operation. “Gold is relatively cheap right now. China would like to keep it this way until they reach the finish line.”
[DiddyKong] Like seriously, who would think of using bullion dealers and the people to hoard the gold until it is ready to acquire the gold in its reserves. Absolute genius and a great example of delegation. Let the bullion dealers worry about stocking its vaults with gold and that gives China the freedom to develop of things
[TxBikerLady] “The minute they pull back the curtain, you are looking at gold shooting well past $2,000 an ounce. The ceiling could be astronomical. Of course this will rock the global stock markets and crush the U.S. dollar. So they have to time their moves just right.” Rickards predicts China will wait until early 2015 to leak their true gold reserves. And when they do, it will likely be a surprise announcement. China has done this before, most recently in 2009, when the People’s Bank revealed overnight that its gold r
[DiddyKong] TxBikerLady DING DING DING, another excellent point
[TxBikerLady] DiddyKong There's that Rickards guy again...No rate or date dude!
[lulu] Txbikerlady the article I posted last week talked linked the Richards video as well as an overview of the video interview it was most excellent and I learned a few things
[DiddyKong] Like I said, hold off on announcing how much gold you have and how much you are actually purchasing as to not create any turbulance until ready to do so
[DiddyKong] Where we fit in all this is to help educate ppl about why this has happened (when it happens) by taking off their tin foil hats and turn their attention to the Fed
[ [TxBikerLady] DiddyKong exactly
[TxBikerLady] DiddyKong Thank you so very much for coming in and bring us this stuff to open our minds
[DiddyKong] lulu TxBikerLady and everyone else, I am glad ya'll can put these things together. There is a lot to it, but it is pretty comprehensive once you understand what to look out for.
[lulu] DK what is China's rank as a gold producer knowing that we are not fully in the know
[DiddyKong] lulu BAH, I would have to look that one up lol.
[lulu] Me too I was hoping you would have it off the top of your head lol
[DiddyKong] lulu number 1 it appears. http://en.wikipedia.org/ ••• oduction
[lulu] DK wow ! And they haven't announced since 2009 and buying like crazy I buying some yuan
[DiddyKong] Here is an important chart to analyze http://en.wikipedia.org/••• cers.png
[DiddyKong] Regardless how much China has in reserves, how much do we really think the country as a whole has? HAHAHAHA
[Aunt B] DK Thank you for bringing all this informative info in here to us! Do you think this will start a Gold Rush?
[BocaLinda] Diddykong. Right. Those peeps have been buying every bracelet necklace and earrings they could get their hands on lol
[Jester] DiddyKong I AM NOT SURE WHY EVERYONE KEEPS ASKING LIKE THAT QUESTION LIKE WE'D KNOW WHAT IT MEANS IF WE ACTUALLY DID HAVE THE ANSWER... HAHAHAHAHAHA
[DiddyKong] Aunt B if it hasn't already lol it sure will once the prices start rising
[lulu] DK I know China has been encouraging their people to buy gold
[DiddyKong] lulu and that is an excellent point. Our government and MSM tell us, gold is a bad "investment" and "gold is not money" when it is the opposite for the ppl in Asia. We shall see HAHAHAHAHA
[Jester] ACTUALLY I DID FIND A CONTACT THAT TOLD ME THEY HAVE 5243.738462831 TONNES... NOW... HOW DOES THAT HELP? HAHAHAHAHAH
[Jester] THERE IS NO FRAME OF REFERENCE... IT MEANS NOTHING...
[SoldierofChrist] Jester DiddyKong should we be buying gold?
[SoldierofChrist] Jester and from where
[Jester] IN ADDITION TO THE FACT THAT I MADE IT UP.... HAHAHAHAH
[DiddyKong] Jester Well, with that a mind and considering U.S. has none, the number 2 holder would be Germany. "Germany holds 3,387.1 tonnes of gold, which represents 67.1% of reserves." http://www.usatoday.com/ ••• 6709493/ so it proves again, no time frame. Just wait for it to happen lol
[lulu] DK I saw nancy grace and friends making ridiculing a man whose family found his stash of gold and silver coins worth over 2 million dollars calling him a hoarder
[Jester] PEOPLE WILL BUY ANYTHING... HAHAHAH
[DiddyKong] lulu hope he continues to hold
[Jester] DiddyKong EXACTLY MY POINT... MEANS NOTHING TO US... DOES NOT GIVE US ANY CLUE AT ALL....
[BocaLinda] Jester you're supposed to tell us the truth oops
[Jester] BocaLinda I DID... I TOLD YOU I MADE IT UP TO PROVE A POINT...
[lulu] DK no he died his family found it which made the event even more repulsive
[SoldierofChrist] Jester hahaha good point
[DiddyKong] lulu bet they sold it like some mindless sheeple people. Oh well lol
[Jester] lulu WELL I HAVE HEARD A LOT OF SCENARIOS.... AND MOST OF THEM INCLUDE THE FACT THAT IT IS NO LONGER AROUND....
[Jester] I DO THINK THEY DID SOMETHING... RIGHT WRONG OR INDIFFERENT... MAYBE SINCE THEY DID NOT NEED IT TO BACK THE CURRENCY THEY USED IT TO LEVERAGE SOME DEBT ALONG THE WAY.... THINKING THEY WOULD PAY IT BACK LATER OR SOMETHING... WHO KNOWS....
[Jester] I HATE THIS DANG LAPTOP KEYBOARD... AND AS YOU CAN SEE IT HATES ME BACK... SORRY....
[oxglove] Good article worth a read although it is about a year old the surce is one we all recognize; "Gold Will Get The Last Laugh On Central Banks",http://www.forbes.com/si ••• l-banks/
[SoldierofChrist] Jester i havent been on recaps in a while and today someone claimed that the dollar will be more powerful than ever lol I dont think that guru has been watching the news
[Jester] SoldierofChrist WELL... I WOULD SAY THAT CONFIRMATION BIAS HAS A STRONG HOLD ON THAT INDIVIDUAL...
DiddyKong] SoldierofChrist it could be be, depends on the mechanism to support the dollar, or a new form of the dollar (TRN) by backing it up with actual assets (agriculture, oil, gold). But I doubt that guru had this in mind when he/she made that statement. Probably was refering to paying debts off using the dinar once it RV'd lol
***** LINKS *****
List of Countries By Gold Production
http://en.wikipedia.org/wiki/
Top 5 Gold Producers Chart http://en.wikipedia.org/wiki/
Top 10 Nations Stockpiling Gold
http://www.usatoday.com/story/
Gold Will Get The Last Laugh on Central Banks http://www.forbes.com/sites/
[DiddyKong] TxBikerLady thanks Im listening
[TxBikerLady] DiddyKong http://www.kereport.com/
[TxBikerLady] DiddyKong I just stumbled on this tonight. it is un-vetted, but has my attention
[DiddyKong] TxBikerLady lol that supports the statement from the article I just posted "China allows gold imports via Beijing, sources say, amid reserves buying talk" - http://www.reuters.com/a ••• 20140420
[DiddyKong] "Rumours on PBOC's gold reserves range from 3,000 tonnes to 5,000 tonnes."
[TxBikerLady] DiddyKong yeppers lol Jim Rickards has a book, The Death of Money too
[DiddyKong] TxBikerLady I wish he titled it "The Death of the Petrodollar"
[TxBikerLady] DiddyKong Ha...that is one of his points in his message
[hunter35] lulu lulu That was the gold from WWII
[TxBikerLady] TxBikerLady Money vs Currency
[DiddyKong] TxBikerLady yea, but I understand why he titled it "The Death of Money". People tend to understand paper as being the only form of money
[[hunter35] DiddyKong So was the China's gold from WWII really stored under the Twin Towers??
[DiddyKong] hunter35 That is the assumption. And supposedly, China got it back
[hunter35] DiddyKong Hmmm When did they get it back
[TxBikerLady] DiddyKong it was on the missing Malaysian plane lol just kidding
[Betsy Ross] DiddyKong really? Hmmm
[DiddyKong] hunter35 afterward and during the article TxBikerLady postedhttp://www.kereport.com/ ••• sting-2/
[lulu] DiddyKong did you read financial Tyranny by David Wilcock?
[DiddyKong] lulu no I haven't. Care to elaborate?
[DiddyKong] lulu can you provide a brief summary?
[DiddyKong] The worrying part of Jim Rickards prophecy goes hand in hand with what I was talking about with gold and silver as legal tender. If China makes its move before US banks are ready with gold and silver in reserves and accounts backed by gold and silver, then it could mean bad news for Americans. That would be when you would see a major correction of stock values and everything else as he mentions in the video
[DiddyKong] But as I understand it, it is not the intentions of BRICS to put everyone in a economic crisis. And that makes sense....
[lulu] Ok DK I know it's not completely accurate but his life was threatened for this article http://divinecosmos.com/ ••• -tyranny
[TxBikerLady] DiddyKong true...I took the interview with a grain of salt,,so to speak. He is CIA after all. But, the message was similar, a different spin at eh end result perhaps. I still like to hear the 'other' side. I don't believe he speaks of BRICS. Like I mentioned, just ran across it tonight.
[lulu] DK it's about all the gold moved to the US for safety during the war and the problems all the countries have had trying to get theirs back
[DiddyKong] TxBikerLady I will say that what he speaks of is an extreme scenario with regards that no one else has prepared with gold in reserves
[DiddyKong] lulu yup, which begs the question if the FED has any gold at all
[TxBikerLady] DiddyKong agreed, the very hard plan b lol
[lulu] I liked the article because it names the crooks lol
[DiddyKong] TxBikerLady yea lol. And it does not make any sense to crush the finances of your customers just to make your business rich. Without customers, your business will eventually fold as well
[TxBikerLady] DiddyKong good point
[DiddyKong] Thats why China will not make a move until ready. Which is also why when ppl say "GCR to happen on this and this date" it makes absolutely no sense lol
[DiddyKong] and that is what the situation is. I would assume that China, and BRICS for that matter, how guage who (or a certain percentage) of its trade partners they need to be ready. The bigger picture is understand who all the players are, what they have to offer.
[DiddyKong] So, it is 67%, 83%, or 93% (examples) of the people of various nations that need to be ready for China to pull the lever or what? Like how could ppl know that answer lol
[Goose] DiddyKong that's kinda good news thanks
[DiddyKong] For example, 78% of Americans and institutions are prepared with gold and silver (check in the box), 56% of the Swizz are prepared (we need 80% to check that one off the list), etc. etc..... once everything checks off the list, then BOOM.
[DiddyKong] But at the same time, there are events that occur that could either hinder the process of nations getting ready or nations that were once ready fall in the "not ready" status. Thats the fluidity of it all
[DiddyKong] So some glitch in the system or pings in the background is non sense. Plain and simple, THINGS ARE NOT READY BUT ARE GETTING THERE!
[BocaLinda] Diddykong do you have a guesstimation?
[TxBikerLady] The exciting thing is we are able to watch it happening and can tell if it one step forward or not now.
[DiddyKong] BocaLinda I wish I could. Why I can't is because I have not seen a signal from BRICS to: 1. Announce dumping of the dollar. 2. Announce official reserves of gold. 3. Provide a time frame or date for BRICS to take over gold pricing. 4. Provide a time frame or date to reach a certain target of gold reserves to be more than the U.S.
many of these announcements won't be of a plan, it would be an announcement of "the time is now" then everything changes over nite
[lulu] I think if the US has so much gold they had better start showing it. London has it lets face it
many of these announcements won't be of a plan, it would be an announcement of "the time is now" then everything changes over nite
[DiddyKong] You won't get a warning of the moment for things to change, but we understand that things will change at some point in time, and it would be best for us to prepare for when that moment comes.
[DiddyKong] And that is not a BS answer because I am not some guy "in the know". That is just truth.
[DiddyKong] It would be like trying to predict the BIG ONE to hit Cali lol
[TxBikerLady] DiddyKong I'm not sure how to look into that
[lulu] And even if the US did have it it is sold so many times over in paper certificates it is worthless
[TxBikerLady] DiddyKong were you able to look into if the BRICS New Development Bank plays a significant par
[DiddyKong] TxBikerLady it does. You can think of it like the IMF supposedly that won't blackmail you for not owing on debts due to some malicious event that was manufactured from keeping you of doing so lol
[TxBikerLady] DiddyKong it opens in 2016
[DiddyKong] lulu that is an interesting point! It works just like fractional reserve banking, in respect to that there are so many claims to any number of ounces in gold that owners actually own a percentage. For example, a 1 ounce gold certificate could be so 100's of times to where any one person would have ownership of only a very, very, very, very, very......... (two week later).... very, very small percentage lol
[TxBikerLady] A gold certificate in general is a certificate of ownership that gold owners hold instead of storing the actual gold. It has both a historic meaning as a U.S. paper currency (1863–1933) and a current meaning as a way to invest in gold. Banks may issue gold certificates for gold that is allocated (non-fungible) or unallocated (fungible or pooled). Unallocated gold certificates are a form of fractional reserve banking and do not guarantee an equal exchange for metal in the event of a run on the issuing bank'
[lulu] DK and let's say everyone who owned a certificate decided to cash in? What would happen
[DiddyKong] TxBikerLady yes, thank you for the definition. And the theory behind it (which seems more like fact now) is that there are more certs. issued than actually physical gold available.
[TxBikerLady] DiddyKong yes!
[DiddyKong] That is why the Shanghai gold exchange is so economically and fundamentally ground shaking to the COMEX infrastructure
[DiddyKong] So that is pretty much all I have for today. Wanted to elaborate on how China could quickly acquire much more gold than the U.S. despite the official numbers of gold reserves that was released in 2009.
[BocaLinda] Diddykong. Thank you so much for all the valuable info!!!
[DiddyKong] which is quite comical when you look at it all lol
[Betsy Ross] DiddyKong Another great educational night.
[TxBikerLady] lulu ah... They have reported on a massive discrepancy in China’s official gold consumption data for 2013: a 500-ton “gap” between production/imports and demand. These publications pointed to this as evidence that the People’s Bank of China is buying gold secretly… and then lying about it. Rickards explained the reason China has been going to such great lengths to conceal this operation. “Gold is relatively cheap right now. China would like to keep it this way until they reach the finish line.”
[DiddyKong] Like seriously, who would think of using bullion dealers and the people to hoard the gold until it is ready to acquire the gold in its reserves. Absolute genius and a great example of delegation. Let the bullion dealers worry about stocking its vaults with gold and that gives China the freedom to develop of things
[TxBikerLady] “The minute they pull back the curtain, you are looking at gold shooting well past $2,000 an ounce. The ceiling could be astronomical. Of course this will rock the global stock markets and crush the U.S. dollar. So they have to time their moves just right.” Rickards predicts China will wait until early 2015 to leak their true gold reserves. And when they do, it will likely be a surprise announcement. China has done this before, most recently in 2009, when the People’s Bank revealed overnight that its gold r
[DiddyKong] TxBikerLady DING DING DING, another excellent point
[TxBikerLady] DiddyKong There's that Rickards guy again...No rate or date dude!
[lulu] Txbikerlady the article I posted last week talked linked the Richards video as well as an overview of the video interview it was most excellent and I learned a few things
[DiddyKong] Like I said, hold off on announcing how much gold you have and how much you are actually purchasing as to not create any turbulance until ready to do so
[DiddyKong] Where we fit in all this is to help educate ppl about why this has happened (when it happens) by taking off their tin foil hats and turn their attention to the Fed
[ [TxBikerLady] DiddyKong exactly
[TxBikerLady] DiddyKong Thank you so very much for coming in and bring us this stuff to open our minds
[DiddyKong] lulu TxBikerLady and everyone else, I am glad ya'll can put these things together. There is a lot to it, but it is pretty comprehensive once you understand what to look out for.
[lulu] DK what is China's rank as a gold producer knowing that we are not fully in the know
[DiddyKong] lulu BAH, I would have to look that one up lol.
[lulu] Me too I was hoping you would have it off the top of your head lol
[DiddyKong] lulu number 1 it appears. http://en.wikipedia.org/ ••• oduction
[lulu] DK wow ! And they haven't announced since 2009 and buying like crazy I buying some yuan
[DiddyKong] Here is an important chart to analyze http://en.wikipedia.org/••• cers.png
[DiddyKong] Regardless how much China has in reserves, how much do we really think the country as a whole has? HAHAHAHA
[Aunt B] DK Thank you for bringing all this informative info in here to us! Do you think this will start a Gold Rush?
[BocaLinda] Diddykong. Right. Those peeps have been buying every bracelet necklace and earrings they could get their hands on lol
[Jester] DiddyKong I AM NOT SURE WHY EVERYONE KEEPS ASKING LIKE THAT QUESTION LIKE WE'D KNOW WHAT IT MEANS IF WE ACTUALLY DID HAVE THE ANSWER... HAHAHAHAHAHA
[DiddyKong] Aunt B if it hasn't already lol it sure will once the prices start rising
[lulu] DK I know China has been encouraging their people to buy gold
[DiddyKong] lulu and that is an excellent point. Our government and MSM tell us, gold is a bad "investment" and "gold is not money" when it is the opposite for the ppl in Asia. We shall see HAHAHAHAHA
[Jester] ACTUALLY I DID FIND A CONTACT THAT TOLD ME THEY HAVE 5243.738462831 TONNES... NOW... HOW DOES THAT HELP? HAHAHAHAHAH
[Jester] THERE IS NO FRAME OF REFERENCE... IT MEANS NOTHING...
[SoldierofChrist] Jester DiddyKong should we be buying gold?
[SoldierofChrist] Jester and from where
[Jester] IN ADDITION TO THE FACT THAT I MADE IT UP.... HAHAHAHAH
[DiddyKong] Jester Well, with that a mind and considering U.S. has none, the number 2 holder would be Germany. "Germany holds 3,387.1 tonnes of gold, which represents 67.1% of reserves." http://www.usatoday.com/ ••• 6709493/ so it proves again, no time frame. Just wait for it to happen lol
[lulu] DK I saw nancy grace and friends making ridiculing a man whose family found his stash of gold and silver coins worth over 2 million dollars calling him a hoarder
[Jester] PEOPLE WILL BUY ANYTHING... HAHAHAH
[DiddyKong] lulu hope he continues to hold
[Jester] DiddyKong EXACTLY MY POINT... MEANS NOTHING TO US... DOES NOT GIVE US ANY CLUE AT ALL....
[BocaLinda] Jester you're supposed to tell us the truth oops
[Jester] BocaLinda I DID... I TOLD YOU I MADE IT UP TO PROVE A POINT...
[lulu] DK no he died his family found it which made the event even more repulsive
[SoldierofChrist] Jester hahaha good point
[DiddyKong] lulu bet they sold it like some mindless sheeple people. Oh well lol
[Jester] lulu WELL I HAVE HEARD A LOT OF SCENARIOS.... AND MOST OF THEM INCLUDE THE FACT THAT IT IS NO LONGER AROUND....
[Jester] I DO THINK THEY DID SOMETHING... RIGHT WRONG OR INDIFFERENT... MAYBE SINCE THEY DID NOT NEED IT TO BACK THE CURRENCY THEY USED IT TO LEVERAGE SOME DEBT ALONG THE WAY.... THINKING THEY WOULD PAY IT BACK LATER OR SOMETHING... WHO KNOWS....
[Jester] I HATE THIS DANG LAPTOP KEYBOARD... AND AS YOU CAN SEE IT HATES ME BACK... SORRY....
[oxglove] Good article worth a read although it is about a year old the surce is one we all recognize; "Gold Will Get The Last Laugh On Central Banks",http://www.forbes.com/si ••• l-banks/
[SoldierofChrist] Jester i havent been on recaps in a while and today someone claimed that the dollar will be more powerful than ever lol I dont think that guru has been watching the news
[Jester] SoldierofChrist WELL... I WOULD SAY THAT CONFIRMATION BIAS HAS A STRONG HOLD ON THAT INDIVIDUAL...
DiddyKong] SoldierofChrist it could be be, depends on the mechanism to support the dollar, or a new form of the dollar (TRN) by backing it up with actual assets (agriculture, oil, gold). But I doubt that guru had this in mind when he/she made that statement. Probably was refering to paying debts off using the dinar once it RV'd lol
***** LINKS *****
List of Countries By Gold Production
http://en.wikipedia.org/wiki/
Top 5 Gold Producers Chart http://en.wikipedia.org/wiki/
Top 10 Nations Stockpiling Gold
http://www.usatoday.com/story/
Gold Will Get The Last Laugh on Central Banks http://www.forbes.com/sites/
2 comments:
Might have been telecentro in 2006 .. for wannabe gurus you sure arent telling anybody anything
"That leaves us to question, how could China possibly control the gold price if it doesn't hold so much gold.
easy. because altho these other countries (supposedly?) have much gold, you cant buy it at their 'quoted' price as all commodity gold contracts are settled on USD. so, any market that can acutally deliver the goods, can set the price, as what you pay for, is what you will actually get. not just a bunch of yuan.
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