UKfan1972: GM! China its own “fix” as a counterpart to the London fix. The London fix is set by USD, Euro and GBP…the China fix will be Yuan dominated. That is very different from the Yuan being gold backed…… I don’t believe that the yuan is gold backed, yet….but I do believe they are going in that direction.
BuddyDog: China launches yuan gold fix to boost power in global bullion market LINK
WTCutter: Paragraph 4 of CNBC article :The new benchmark may not be an immediate threat to London, but industry players say over time China could set the price of the metal, especially if the yuan become fully convertible.”
if the Yuan become fully convertable to GOLD or gold backed…. f is not now according to article…. but moving in gold backed direction
Lyro: What are we waiting on now?
Appaloosa: I don’t believe we are waiting on anything – I believe things are in progress. When I say in progress, I mean that the PTBs of the different countries are doing what they need to do to accommodate a global currency reset.
Suggar: this is a thousand piece puzzle and there is not a picture guide……..sooooo here we are…..
Appaloosa: Sugar – exactly – can’t have a guideline in place for something that’s NEVER been done. You can have a plan – but we all know what happens when you start a project at home, you plan for what you think you need and once the project is underway – you discover you need an extra box of nails, or more shingles
Suggar: that is why sooo many starts and stops………and no one group to take responsiability for stopping the buck….
Appaloosa: I think it has very little to do with a group not wanting us to hold the currencies. I think it the delays that we have seen have everything to do with the super wealthy 1% not wanting to lose their power like they will when the US goes asset backed.
Appaloosa: I think the the process has started….I think it started back when you saw the Swiss unpeg from the Euro…..that was the first really big visible move…….that I recall anyways. Ever since we’ve been making slow steady progress with these other countries doing what they need to do to achieve a currency reset.
EddyEagle: appaloosa…that is exactly whats happening…because we’ve been told for a while now that banks have live rates but cannot or do not have the approval yet to do exchanges
Appaloosa: Eddy – I agree with you – the wealthy 1% does not want this to go through – they will lose their power. The Federal Reserve controls the US Dollar. The Federal Reserve is owned by the wealthy 1%. The US dollar is currently a fiat currency, which means that there is nothing backing the value of it. It’s NOT asset backed yet. It’s worth nothing.
They keeping printing it. If other countries force us to go asset backed they can only print as much as we have asset to back it.
Let me also say that the wealthy 1% (like the Rothchilds) own something like 22 of the Central Banks around the world. When we have had things released to the banks – they’ve blocked it with their Central Banks.
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Xyz: Finance ministers and US Treasury confirm the fight against corruption and money laundering http://translate.google.com/translate?depth=1&hl=en&sl=ar&tl=en&u=http ://www.alliraqnews.com/modules/news/article.php%3Fstoryid%3D35881 Zebari, with US Treasury Secretary Jack Lew importance of cooperation between the two sides in the fight against corruption and money laundering.
Xyz: US reaffirms its support for Iraq on ready credit and anti – money laundering arrangements http://translate.google.com/translate?depth=1&hl=en&sl=ar&tl=en&u=http://www.alsumaria.tv/news/166112/- …”The United States confirmed its support to the continuation of the support that the United States provided to Iraq directly in the framework of international financial institutions. ”
…”support respect to reaching an agreement between Iraq and the International Monetary Fund on the standby credit arrangements, and its willingness to contribute to the loan guarantees, and mobilize support for the demands of Iraq during the next meeting of the Group of Seven finance ministers, in addition to the summit meeting of this group, which will be held during the last week of the month May next.”
