Noonan: “Gold” War Has Replaced Cold War in China/Russia vs. U.S. Struggle for Economic Dominance

"China [and Russia] represent the East, importing gold at cheaper and cheaper price levels, as the Western central bankers have been conducting a clearance sale…depleting their physical holdings.  In the war for gold, the East and West are still winning, but for vastly different reasons.

• Russia & China Have Power to Collapse U.S. Economy! Is Hoarding of Gold Their First Step In Doing So?

China loaned Mao’s gold to the NY central bank, and it would not [could not] return it. The gold was gone, loaned out, sold, we will not likely know the true story, but it was gone.  Paper was the name of the game for the West.  Physical gold, silver, and natural resources was, and still is the name of the game for China and Russia.  Both have been dumping US Treasury bonds in exchange for gold, silver, and any other asset that is not a derivative of paper.  Because of the NY central bank experience, China is out for revenge.

• Noonan: Is Gold’s Decline Being Caused By Fed Payback Time to China?
• A Look At the Great Chinese Gold Rush
• China Converting U.S. Dollar Debt Holdings Into Gold At Accelerating Rate

Russia has always been a known adversary and is winning against the US by default, simply waiting for the US to self-implode, which it is doing.  Where China holds the majority of physical gold, Russia holds energy trump cards over the US and its faltering scheme of the petro-dollar.  It is fast being replaced  by sounder forms of collateral and trade outside of the Western fiat scheme.  The US has become isolated.  Russia has vast amounts of natural gas to supply Europe, replacing, in part, oil.

b) The West

How is the West winning in the war for gold supremacy?  By default, which is all it knows how to do.  The entire Western world remains in the financial grip of fiat obligations. Everything is dependent upon the central banking system that is close to collapse.  The fiat Ponzi scheme is being kept afloat by China and Russia not forcing the totally insolvent Western banking system to make good on its debts.  Instead, China is being rewarded by cheap gold prices and cheap New York real estate that comes with the added bonus of the largest commercial gold vault (they bought 1 Chase Plaza for $750 million, about half of its value, from JP Morgan which also happens to house the world’s largest gold vault) located across the street from the Federal Reserve gold vault.

In spite of the fact that there have been:

• record sales for silver and gold coins by the public,
• record imports of physical gold by China and other countries to a much lesser degree,
• disappearing gold reserves by COMEX and LBMA,
• the highest demand ever for physical ounces of gold by paper holders,
• etc, etc, etc."

at http://www.munknee.com/noonan-gold-war-replaced-cold-war-chinarussia-vs-u-s-struggle-economic-dominance/