Dr. Jim Willie published new information regarding negotiations that are taking place right now between Chinese finance officials and the Bank of International Settlements (BIS). At the heart of these talks is the ending of the dollar as the medium for international trade settlement, and in using physical gold as its replacement. While not completely confirmed, the number that Dr. Willie has been hearing for a repricing of gold to accommodate global trade settlement would be to boost the price/value to $5000 per ounce.
Maybe gold to become money for nations,.. And cryptocurrencies become money for the people. :)
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One thing is for sure, paper fiat is going bye bye!!
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Yes. I agree. Fiat paper is like maths done by incompetents. Thinking 1+1=3. It's unsustainable and the universe has an enormous aversion to it.
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Agreed chhayll
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Can you point me to his publications regarding this new information please? Thanks in advance.
EDIT: is it this link you have as a source?
http://www.thedailyeconomist.com/2016/08/jim-willie-china-working-with-bis-to.html
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That's it fotsirvelk
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$5,000 might be a low number if they use gold to rebalance the world's balance sheets
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Agreed g-dubs
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His Website is goldenjackass.com
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I think first $5000 oz at the start of the reset moving to over $10000 oz in time
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Jim Rickard's says a partial 40% Gold backing of the USD would bring the price to $10,000 and that's only if the U.S. has the Gold it says it has
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