China is fully aware of gold price suppression and planning to overthrow it
11:36a ET Sunday, December 1, 2013
Dear Friend of GATA and Gold:
Back in October gold researcher Koos Jansen and Jan Skoyles of The Real Asset Co. in London called attention to commentary by Zhang Jie, deputy editor of the Chinese publication Global Finance and a consultant to the China Gold Association, which cited the Federal Reserve's manipulation of the gold market to protect the U.S. dollar's standing as the world reserve currency.
Jansen has obtained a much better English translation of this Chinese commentary, and it includes this observation about gold leasing by Western central banks: "Through continuous gold leasing the gold in the market can be circulated and produce derivatives, creating more and more paper gold. This is very significant for the United States. Gold leasing is a major tool for the Federal Reserve and other central banks in the West to secretly control and regulate the gold market, creating gold credit derivatives and global credit conflict."
... Dispatch continues below ...
How to profit with silver --
and which stocks to buy now
Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million.
Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets.
To learn about this report, please visit:
The new translation, headlined "Gold Leasing Is a Tool for the Global Credit Game," is posted at Jansen's Internet site, In Gold We Trust, here:
Jansen also has posted two other Chinese commentaries demonstrating that China sees gold as the center of its own and the world's monetary system.
One commentary is by Sun Zhaoxue, president of China National Gold Corp., the country's biggest mining company, who writes:
"Gold now suffers from a 'smokescreen' designed by the United States, which stores 74 percent of global official gold reserves, to put down other currencies and maintain U.S. dollar hegemony. Going to the source, the rise of the U.S. dollar and British pound and later the euro from a single-country currency to a global or regional currency was supported by their huge gold reserves.
"Especially noteworthy is that in the course of this international financial crisis, the United States shows a huge financial deficit but it did not sell any of its gold reserves to reduce debt. Instead it turned on the printer, massively increasing the U.S. dollar supply, making the wealth of those countries and regions with foreign reserves mainly denominated in U.S. dollars quickly diminish, in effect automatically reducing its own debt."
Sun's commentary, written in 2012, is headlined "Building a Strong Economic and Financial Security Barrier for China" and it's posted at In Gold We Trust here:
The other Chinese commentary posted by Jansen was written this year for the Agricultural Bank of China by Liu Zhongbo, notes the attempt of the German Bundesbank to repatriate its gold from the Federal Reserve Bank of New York and the increase of gold reserves by other central banks, and concludes: "Because gold has capabilities to absorb external economic shocks, growth of its use in the international monetary system will be imminent." That commentary is headlined "ABC Bank: Run on the Fed Highlights the Importance of Gold Reserves" and can be found at In Gold We Trust here:
As GATA often has noted, Western gold price suppression has been cited in reports by Chinese news organizations and these reports even have been conveyed to the U.S. State Department in Washington by the U.S. embassy in Beijing:
That is, China knows all about Western gold price suppression and the U.S. government knows that China knows.
Indeed, while financial authorities and mainstream financial journalists in the West just scoff at complaints of gold price suppression when they even deign to take notice of them, China understands gold price suppression to be the primary objective of Western central banking and is designing its own policies to overthrow it.
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
* * *
Join GATA here:
Vancouver Resource Investment Conference
Vancouver Convention Centre West
Sunday-Monday, January 19-20, 2014
Vancouver, British Columbia, Canada
* * *
Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:
Or by purchasing a colorful GATA T-shirt:
Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:
Help keep GATA going
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Buy metals at GoldMoney and enjoy international storage
GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: