Friday, March 28, 2014

China and Russia are Buying Gold for the Upcoming Currency War

Russia has increased its gold reserves 70%. China has increased its gold reserves several hundred percent. No one knows the exact number, but clearly two or three or four times what they say they have.

And it was recently disclosed that in 2008 during the financial crisis, Russia called China and suggested coordinating, dumping their stock and bonds and Fannie Mae to make the financial crisis worse. This was actually disclosed by Hank Paulson who was Treasury Secretary at the time, in an interview he gave a couple of days ago actually to the BBC.

So here we have all the evidence of what we talked about. That China buying gold, Russia buying gold. China and Russia coordinating their efforts to the detriment of the United States and the US dollar. This is all documented facts. When we said it in 2009 people laughed at us, but since then it’s all played out.

So I have a lot of things in the new book. I don’t think it will be laughed at. I think people will take it seriously and I would just say, I think it would take the reader forward, taking the story forward, and giving people some glimpse of the shape of things to come.

- Source, Sprott Money: