“A major Russian gold producer, Polyus Gold, is now in discussions with the Chinese about getting loans because they need money to produce their gold. They have one of the largest deposits in the world and they have turned to the Chinese to help fund their gold production.
My guess is that Polyus will be funded to some extent by China and the Chinese will end up with some sort of stake in that mine. It will be interesting to see whether the Chinese will accept payment for their loans in gold, yuan, or rubles. I guarantee you the Chinese will take payment in physical gold.
Gold will end up being the currency the Chinese elect to take as repayment for their loan to Polyus. Despite the propaganda, the Chinese are accumulating gold as fast as they can, and they are making it more difficult for the West to see how they are doing it and how much gold they are accumulating.
It used to be that gold just came in through Hong Kong and we got a report. Now gold is coming in through Shanghai,and Russia. Who knows how many other ways the Chinese are accumulating gold? It’s impossible to keep track of how much gold the Chinese are accumulating. Obviously the Chinese are very serious about building up their gold reserves as fast as they can.
I also want to mention once again that Germany wants a portion of its gold back from the United States. In my opinion this is part of the planned alliance between Germany, Russia, and China. This is a sign that the world is moving toward a currency where gold is going to play a much more prominent role.
The role for gold will be much bigger than the Bank for International Settlements wanted gold to play. Every day the role the BIS plays is getting smaller, and with every ounce of gold the Chinese, Russians, Indians, and Germans accumulate, the BIS becomes weaker. This means that Western banks have less control.
The largest company in France, Total, essentially just said, ‘There is no reason to pay for oil in dollars. Pay for it in euros.’ That is another sign of the dollar’s demise. A year or two ago no European would have had the guts to say something like that, but now they are saying it. And if it is going to be paid for in euros, then make it the German mark because that is by far the most important currency in the euro basket.
So day by day, story by story, you are seeing this point of inflection coming closer and closer. The message for your readers is they have got to own gold. This is becoming a world where you should not be as diversified as you once were. You should be overweighting gold in your portfolio, and you have to have energy in your portfolio. That means owning physical silver as well. So own gold, silver, and energy. Those should be the bulk of everyone’s portfolio at this point in history.”
at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/7/8_China_Is_Going_To_Push_Gold,_Silver_%26_Oil_Dramatically_Higher.html
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