The War On Gold Has Begun

[DinarThug]

 

     

 

 

LINK

China begins the steps to dispense with the US dollar
 

 

25th June, 2020

A Russian website that specializes in economic affairs has monitored Chinese steps that pave the way to stop dealing in the American currency, pointing out that Beijing is storing gold for strategic purposes.

In this context, the "expert" website mentioned that the Chinese gold mining companies carry out large-scale activities in the field of gold mining, and accepts the purchase of other mining mining industries around the world with remarkable activity.  The report monitored the latest Chinese deals in this field, noting that the Chinese company “Zijin Mining Group” bought in early June the “Guyana Goldfields” Corporation, a medium-level gold producer mainly engaged in exploring, developing and exploiting deposits in Guyana, located in South America, in exchange for 323 million Canadian dollars.

This company last year produced about 150,000 ounces of gold, and the China Mining Company insisted on taking it, despite its high price of 35% due to competition from another company. And the Chinese company itself acquired last March the mining company "Continental Gold Inc", which owns "Puerto Rica", which is one of the largest projects of gold production in the world with high-quality reserves estimated at 3.7 million ounces, and paid for it 1.3 billion Canadian dollars.

The report concluded that now that China has acquired these new foreign assets, it is the largest producer of "yellow metal" in the world, noting that this behavior indicates that Beijing is storing gold for strategic purposes. The competent website stated that China has been sending signals to the world that the dollar's dominance must end, and this trend has gained new strength in light of the confrontation with the United States, and Washington's threat to impose sanctions on Beijing.

Statements by Chinese officials warning that the United States will soon be able to impose severe and real sanctions have increased recently, and perhaps this is what prompted Fang Haixing, vice chairman of the China Securities Regulatory Commission, to say that China's dependence on the international financial system based on the dollar makes it vulnerable At risk. The report said that China appears to have plans to change the global financial system to another based on the gold standard, which will allow the implementation of the main geopolitical goal of China, which is to get rid of the system of settlement of transactions in dollars.

China expects that in the future gold will become a reserve currency, and on its base in particular, the global financial system will be built, which will take the place of the current system. 

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China begins the steps to dispense with the US dollar  LINK[/b]

[Mary B]

Gold is below its 8-year peak due to corona

25/06/2020

 

  

Gold bars, photograph from Reuters archive

Information / Baghdad ..
Gold fell today, Thursday, from the height of 8 years, as sales in the stock markets driven by the increase in cases of Corona virus caused investors to abandon assets.
And gold fell in immediate transactions 0.1 percent to $ 1760.62 an ounce by 05:19 GMT, after rising to its highest level since October 2012 at 1779.06 dollars on Wednesday.
And gold fell in US futures 0.1 percent to $ 1773.80.
"The behavioral pattern we've seen this year is that when stocks and energy decline, there is a rush to cash across all asset classes, including gold," said Jeffrey Haley, market analyst at Oanda.
Asian stock markets have retreated due to the high incidence of Coronavirus in the United States, and the International Monetary Fund cut economic expectations, which pushed money flows to the alternative safe haven, the dollar.
Gold has moved in parallel in parallel with the stock markets this year, while large sales are leading to a stampede towards cash at a time when traders are covering marginal positions.
And 3 US states announced record increases in new HIV infections on Wednesday.
There were gains in other countries as well, including Brazil, Latin America and India, and it is also the second largest consumer of precious metal in the world.
For other precious metals, palladium jumped 1.1 percent to $ 1884.49 an ounce, platinum gained 0.3 percent to $ 802.41, and silver rose 0.2 percent to $ 17.55. Ended / 25

 

https://www.almaalomah.com/2020/06/25/481715/

[SocalDinar]

On 6/23/2020 at 7:57 PM, Miamiheatnic said:

Not buying into "losing my money in the bank", definitely can understand a global reset and dinar of course but i'll be just fine with my money in the bank.  All is well

Inflation is a tax on your savings in the bank.  If we see hyperinflation it will devalue faster than they can print it

[SocalDinar]

Well my claims are all producing well. I worry more about wacko environmentalists  closing my claims over some endangered weed

[jmartin1145]

The more I read, the more I confuse myself. So that's why im going to ask my brother and sisters. Should I buy gold or not?

Edited June 25, 2020 by jmartin1145
spelling

[MyLadiesDaddy]

17 minutes ago, jmartin1145 said:

The more I read, the more I confuse myself. So that's why im going to ask my brother and sisters. Should I buy gold or not?

Physical Gold and Silver. 

And remember, Silver historically always out performs Gold percentage wise. 

[jmartin1145]

1 minute ago, ladyGrace'sDaddy said:

Physical Gold and Silver. 

And remember, Silver historically always out performs Gold percentage wise. 

Thank you so much brother.

[DinarThug]

The most attractive dollar despite trillions pumping ... The yuan is hostage to Beijing and Washington ties

- 14 Hours Ago

 

 

The eyes of investors in the global exchange markets began focusing on the second half of this year and the prospects for an economic recovery with the gradual opening of international borders, the operation of economies, and the end of social isolation.

Experts believe that the ability of countries to curb the spread of the Corona pandemic and healthy coexistence with it will be one of the main factors that will determine the currency trends during the current year. This is simply because this will determine the speed of the economy returning and recovering from the pandemic. The strength of exports usually determines the demand for the currency.

In this regard, the currency expert at the Dutch bank, "ING", Francisco Pisol, expressed optimism about the economic future during the second half, saying "strong economic data raised hopes for a rapid return to global economies after the isolation and closures ... but investors will monitor the new outbreaks of the Corona pandemic and its repercussions On the operation of the facilities, ”according to the CNBC channel. The cases of the disease as of Wednesday, more than 9.2 million cases.

But it seems that the question that dealers face in the exchange markets at the present time is whether the dollar will be dealt with on the basis that it is a "safe haven currency" or not, amid growing concern about the return of the pandemic after its recession in the past month.

"The dollar will weaken against the major currencies in the event of an increase in corona cases in America," said Samir Gul, currency expert at the German bank "Deutsche Bank", in comments to CNBC.

But so far, the largest dealers in the exchange market from banks and companies prefer to buy dollars over other currencies, for fear of a crisis of shortages in dollars.

The Bank for International Settlements estimates in the report the size of the global shortfall in dollars at about $ 13 trillion, and therefore exchange experts expect that this massive shortfall in the dollar will support the green paper’s exchange rate on the short level, even if the US government continues to pump other trillions into the American market to support economic growth.

In terms of the Chinese yuan, which is linked to a limited movement margin at the dollar exchange rate, Gul believes that the yuan has become stable in recent weeks and is not subject to major shocks in the offshore areas, as happened during May.

The Chinese yuan will benefit from price stability from the signing of the initial trade agreement between Beijing and Washington, as well as from positive economic data released from China.

Usually, major investors in bets on the Chinese currency fear the Chinese central bank, which usually interferes strongly in the market buying and selling, as it has huge dollar reserves of more than 3 trillion dollars.

Therefore, its intervention could cause huge losses for exchange dealers. It is also mentioned that the statements of Jerome Powell, President of the Federal Reserve Board, at the beginning of this month in which he confirmed that he would maintain a low interest rate on the dollar for a long time in order to support the financial markets, contributed to the yuan exchange support, as it is linked to the movement of the bank interest. On the dollar.

However, the yuan's exchange rate remains hostage to the trade relations between Beijing and Washington amid fears of a financial embargo on Chinese banks and preventing them from using the dollar.

Experts expect that the results of the US presidential elections in November will have a major impact on the yuan exchange movement. Donald Trump's chances of winning the risk are likely to raise the risk to the yuan, if it goes ahead in the opinion polls.

As for the British currency, analysts believe that the British pound has become a "dangerous currency" due to the great fluctuation in its price against the dollar and the euro. Consequently, it began to lose its appeal to international exchange dealers.

The British are suffering from the British government's reluctance to open the economy and decide on an agreement on a trade relationship that delineates a clear picture of the fees for its imports and exports to the European bloc, Britain's largest trading partner. The Boris Johnson government is still negotiating with the European Union over the form of trade and economic relations after Brexit.

"We see a lot of turmoil in the exchange rate of sterling compared to other major currencies such as the US dollar, Japanese yen, euro, and Swiss franc," said Kathleen Brooke, currency analyst at British Minerva, on Wednesday.

As for the European currency, analysts believe that the positive data published yesterday about the optimism in business sentiment will support the demand for the euro, and thus will rise against the dollar.

The euro exchange rate depends on the directions of the German economy, which usually leads the recovery machine in the euro area, and on Germany's foreign exports, which determines the global demand for the euro.

According to Reuters, the Ifo Economic Institute said, on Wednesday, that the institute's business climate index rose for the second consecutive month in June due to companies believing that the worst possible harm as a result of the public isolation that aims to contain the Corona virus has passed.

New Arab

 

LINK

[SocalDinar]

24 minutes ago, ladyGrace'sDaddy said:

Physical Gold and Silver. 

And remember, Silver historically always out performs Gold percentage wise. 

Yep totally right LGD Physical precious metals only!!! And have your physical gold in hand. Don't rent vault space! That gold does not really exist as Bullion Banks use fractional banking too.  The best part of owning physical gold is holding it and playing with it. LOL  I have to admit to doing this

 

[jmartin1145]

The reason I was asking, 150,000 ounces a year? By only one company. My oversupply brain cells kicked into place. 

[SocalDinar]

Just now, jmartin1145 said:

The reason I was asking, 150,000 ounces a year? By only one company. My oversupply brain cells kicked into place. 

Is that from hard rock mines?  Its not a cheap venture crushing rock

[jmartin1145]

19 minutes ago, SocalDinar said:

Is that from hard rock mines?  Its not a cheap venture crushing rock

So say, I go to rosiland capital and I want to buy silver. Many options. Suggestion? This why I love the people here.

[SocalDinar]

2 minutes ago, jmartin1145 said:

So say, I go to rosiland capital and I want to buy silver. Many options. Suggestion? This why I love the people here.

Silver is a tough buy these days. I used to pay 50 cents over spot  Some now want $5.00 over spot.

If you spend a grand here in CA you pay no tax on metals. Not worth buying if you pay tax on it.

And shipping costs will hurt you too. I would look for a local dealer. 

 

 

[Pitcher]

You are correct SocialDinar.  I have used Apmex.com for years but my last 2 buys were at a local Pawn Shop.  They gave me 3.27 over Spot. the last time I was there. He has gone up to around 5 now from what my friends are telling me.  I have also bought some old coins from several Antique Stores.  Some of those stores priced them years ago and the hired help doesn’t have a clue what they are worth.  

[MyLadiesDaddy]

14 minutes ago, jmartin1145 said:

So say, I go to rosiland capital and I want to buy silver. Many options. Suggestion? This why I love the people here.

What @SocalDinar says is exactly right under the current system, however, if you're like me then you don't think the current system will last much longer.  If we revert back to the Gold standard then everything financial becomes a new creation.  

As for buying Silver, a newbie [like you and I] should stick with bars and rounds. Steer clear of the collectors coins. But know this "IF" we go to the Gold standard Silver will come in around $3800 an ounce and Gold will be in the neighborhood of $30,000 .

 

 

[jmartin1145]

5 minutes ago, ladyGrace'sDaddy said:

What @SocalDinar says is exactly right under the current system, however, if you're like me then you don't think the current system will last much longer.  If we revert back to the Gold standard then everything financial becomes a new creation.  

As for buying Silver, a newbie [like you and I] should stick with bars and rounds. Steer clear of the collectors coins. But know this "IF" we go to the Gold standard Silver will come in around $3800 an ounce and Gold will be in the neighborhood of $30,000 .

 

 

I am getting ready to sink 6K into it. Just want to do it right.

Edited June 25, 2020 by jmartin1145
spelling

[jmartin1145]

7 minutes ago, ladyGrace'sDaddy said:

What @SocalDinar says is exactly right under the current system, however, if you're like me then you don't think the current system will last much longer.  If we revert back to the Gold standard then everything financial becomes a new creation.  

As for buying Silver, a newbie [like you and I] should stick with bars and rounds. Steer clear of the collectors coins. But know this "IF" we go to the Gold standard Silver will come in around $3800 an ounce and Gold will be in the neighborhood of $30,000 .

 

 

And I bought a ton of collectors coins because of the thinking of still being real money.

[SocalDinar]

7 minutes ago, ladyGrace'sDaddy said:

What @SocalDinar says is exactly right under the current system, however, if you're like me then you don't think the current system will last much longer.  If we revert back to the Gold standard then everything financial becomes a new creation.  

As for buying Silver, a newbie [like you and I] should stick with bars and rounds. Steer clear of the collectors coins. But know this "IF" we go to the Gold standard Silver will come in around $3800 an ounce and Gold will be in the neighborhood of $30,000 .

 

 

Nixon was a fool giving our government a blank check in 74.  

I like your optimism with those prices. Wouldn't that be nice

[Pitcher]

2 minutes ago, jmartin1145 said:

And I bought a ton of collectors coins because of the thinking of still being real money.

 

LGD is right, bars and rounds!  

[jmartin1145]

8 minutes ago, Pitcher said:

 

LGD is right, bars and rounds!  

What do you mean by rounds?

[SocalDinar]

3 minutes ago, jmartin1145 said:

What do you mean by rounds?

 Non government issued silver and gold. Just like bars but they are coin shaped . They do stack nicely in tubular containers,  No collectable value that government issued coins can have. Just the value of the metal. Gotta really know what you are doing when you buy coins.

Like everyone is saying .. Stick with bars or rounds.

[dinarham]

The nickles ,dimes and quarters the Fed is making these days are of such poor quality ,off center and so cheaply made ,makes me think that these  coins are on the way out . 

[Pitcher]

 

[jmartin1145]

5 minutes ago, SocalDinar said:

 Non government issued silver and gold. Just like bars but they are coin shaped . They do stack nicely in tubular containers,  No collectable value that government issued coins can have. Just the value of the metal. Gotta really know what you are doing when you buy coins.

Like everyone is saying .. Stick with bars or rounds.

Your awesome brother. Not only did you help me, but many other people. If you need to know about cows or chickens. Just call.

[Pitcher]

13 minutes ago, jmartin1145 said:

you need to know about cows or chickens. Just call.

 

Thanks for keeping us feed.  I lived on a farm and helped for 2 years when I was in college.  I know first hand cows and chickens can’t drive worth shiiite.