China is currently the world’s biggest gold consumer, purchasing and storing tens of billions of dollars of the metal each year. So what does this mean for the price of gold and the future of the metal? 

Reports have also recently surfaced that China has given domestic and international banks permission to import large amounts of gold into the country, an act that will likely have a positive effect on gold prices worldwide. 

The only economy to have grown during 2020 was China’s, which has ushered in their booming demand for gold jewelry, bars and coins. This rebound has driven local prices above the global benchmark. 

Gold is now selling at a premium of $7-9 an ounce in China; a number that would be even more inflated had importing the precious metal been halted. 

Beijing has also given the green light on gold imports where 150 tonnes worth $8.5 billion is likely to be shipped. They will import gold from Australia, South Africa and Switzerland.  

Gold-Backed Yuan 

In 2018 China launched a gold-backed, yuan-denominated oil futures contract with the contracts priced in Yuan but convertible to gold. Many thought, “the rise of the petroyuan could be the death blow for the dollar.”

Two weeks ago, The IMF published a report showing US-dollar-denomiated exchange reserves dropped to 59% in the fourth quarter. Matching the 25-year low of 1995. 

China also just became the first major economy to unleash a Central Bank Digital Currency, “cementing its trailblazer status in virtual currencies far ahead of other countries, after already recently experimenting with large-scale trials of actual payments by consumers, which was met with mixed results.”

The effect of this is even more surveillance, and loss of privacy for its citizens. China is not shy about its desire to know every move of those who live within its borders and this is another cementing move on their part. 

A Chinese financial weapon? 

Peter Thiel, the Found of the ground-breaking company Palantir, also recently warned Americans to be weary of digital currencies, especially Bitcoin. Thiel stated, Bitcoin should also be thought [of] in part as a Chinese financial weapon against the US… It threatens fiat money, but it especially threatens the U.S. dollar.”

Is this why China is buying gold? To hedge against the dollar as the reserve currency of the world…? 

It’s no secret the price of gold will skyrocket in the near future with the effects of the lockdown slowly creeping up on us. The effects have been mitigated by the Federal Reserve’s endless printing of money that will first lead us into a depression (meaning stagnant growth) and then inflation; all the while cementing gold as the wealth preserving asset it has always been. 

China is taking action based on the declining value of the dollar and inevitable inflation coming in the next 24 months. Solidifying the sentiment, Reuters reported that China has given domestic and international banks permission to import large amounts of gold into the country, 

The People’s Bank of China (PBOC), the nation’s central bank, controls how much gold enters China through a system of quotas given to commercial banks. It usually allows enough metal in to satisfy local demand but sometimes restricts the flow.

In recent weeks it has given permission for large amounts of bullion to enter, the sources said.

“We had no quotas for a while. Now we are getting them … the most since 2019,” said a source at one of the banks moving gold into China.

Around 150 tonnes of gold worth $8.5 billion at current prices is likely to be shipped, four sources said. Two of the sources said the bullion would be shipped in April. Two others said it would reach China over April and May.

Obviously this news sent gold prices higher, shown in the graph below. 

The size of the shipments is a clear signal to the world that China is back in the global bullion market. They’ve seen the writing on the wall for the USDollar as the global reserve currency, and they’re taking action. 

…..are they paving the way for a gold-backed yuan? 

Perhaps Peter Thiel is right… and bitcoin is the trojan horse to attack the dollar and make way for a gold-backed yuan?

Reserve currency status can’t last forever. 

The post China’s Back in Bullion: Billions of Gold Imports & Gold-Backed Yuan appeared first on Conservative Maven.

“We need to reduce sanctions risks by strengthening our technological independence, by switching to payments in national currencies and in world currencies, alternative to the dollar. We need to move away from the use of Western-controlled international payment systems,” Lavrov said in an interview with Chinese media. 

Diplomacy 

Lavrov believes the US is attempting to limit technological development of China and Russia, so they are moving to strengthen their independence. 

“They are promoting their ideologised agenda aimed at maintaining their dominance by holding back the development of other countries. This policy runs counter to the objective trend and, as it was customary to say, is ‘on the wrong side of history.’ The historical process will still take its toll,” Lavrov said.

Instead of using diplomacy the, Lavrov states the US resorts to placing sanctions on foreign countries. 

“Diplomacy is relations between people, it is the ability to listen to each other and hear each other and the ability to find a balance of interests. That’s exactly the values that the Russian Federation and the People’s Republic of China are promoting in diplomacy,” Lavrov said.

Coalition Against the West

To counteract what he sees as unilateral sanctions, Lavrov aims to create a coalition of countries to withstand the sanctions and create financial and technological independence from the West. 

“You see how the US declares its task to limit the opportunities for technological development of both the Russian Federation and the People’s Republic of China. Therefore, we need to reduce the sanctions risks by strengthening our technological independence, by switching to settlements in national currencies and in world currencies that are alternative to the dollar. We need to move away from the use of Western-controlled international payment systems,” Lavrov said.

He emphasized ultimatums and expectations for a partner state to “accept mistakes” and agree to one-sided terms, is not diplomacy. 

“This approach [sanctions instead of diplomacy] has, unfortunately, taken root in the US. It started with the administration of Barack Obama, continued for four years when Donald Trump was at the helm of the White House. Now we are seeing the same ‘instincts’ demonstrated by the new US administration,” the minister explained.

European Businesses Suffering

Lavrov makes it clear he does not see the sanctions as beneficial to any party. It benefits no one, he says, and points to losses the EU businesses have suffered due to anti-Russia sanctions. 

“You hear how European business expresses dissatisfaction with the fact that it is incurring losses, and meanwhile its niche in the Russian market is being occupied by other countries that are guided by their national interests, the interests of developing their economy, supporting business, and not by the logic of punishing someone for something,” Lavrov said.

Russia is the first country to openly speak out about forming alliances against the US and the dollar, and in allegiance with China. Whether this happens or not, it seems Lavrov and other Russian officials are working to end their dependence on the west and the US dollar. 

What’s Next?

Last week, the US State Department announced new sanctions against Russia over alleged poisoning of Russian opposition figure Alexei Navalny. 

Kremiln spokesman Dmitry Peskov said Russia is “on the alert” because of “underground and unpredictable” US actions.  

“We can’t rule out any of the potential threats. You can see that the sanctions aspirations of our opponents, especially the United States of America, continue on an increasing scale,” he said.

Countries across the world are fed up with the US and with Biden in office, these sentiments will only be exacerbated.

The post Russia & China: Abandoning the US Dollar appeared first on Conservative Maven.

“The world economy has been broken by the coronavirus and to fix it we have to turn the economy off and then turn it back on again.”

– Charles Schwab, former head of World Economic Forum & Global Elite spokesman

The Biden Administration inches closer to ushering in the ‘Great Reset’ with each passing day. The Global Elite are attempting to roll out this socialist one world government and attempting to have all the citizens of the world live under a China-esque communistic regime.  

The more you know the less power they have. The better you protect yourself and your family, the less likely their plan is to work. So what is their plan, exactly? 

Well… I’ll tell you using their words. It is their plan after all…

1. They want us to own nothing and ‘be happy’: no personal property ownership
2. Likely no guns: a socialist world does not have the right to defend itself from a tyrannical government 
3. A redistribution of wealth: those who earn are taken from and give to those who do not 
4. A ONE-WORLD government: We know this by many names… socialism, totalitarianism, communism, to name a few…

We are not saying this WILL happen, the devil never does win in the long-run, but we can’t promise it won’t. Patriotic Americans are waking up to this non-sense by the day and conservative voices are getting louder. 

This is our hope in all of this. This is how we will find peace, freedom and regain our once thriving country. However, if they succeed in their evil agenda you can expect this and more: 

• Government will continue giving handouts to Globalist San Francisco companies like Google, Amazon and Apple – companies who have thrived during the pandemic while many small businesses have had to close their doors indefinitely
• Creating an economy of haves and have nots by choking out small businesses with regulations and further propelling the elimination of the middle class
• Selling out American jobs overseas
• Creating a global culture and world religion, replacing God in our lives with technology
• Implement a digital dollar to track currency movement and eliminate business in private
• Make college free to indoctrinate the youth with a globalist world views (which is now rampant in both our higher and lower education levels)

This may sound drastic to you and that’s because it is. But if you’re like the rest of us… you may be scratching your head wondering where all this came from. 

Jim Rickards author, economist and precious metals advocate recently weighed in on this and brilliantly explained why now; why this is coming about in 2021.

“The elites always have a plan, multiple plans on multiple fronts. They write the plans and put them on a shelf and they wait for a crisis. And in times of crises they take these plans off the shelf, roll them out and say ‘here’s the answer.’ They use the fear and the uncertainty in the general population as a platform for pushing an otherwise generally unpopular plan in the guise of a solution.”

Do not and I repeat do not buy in to their fear mongering.

That’s exactly what they’re doing with the Great Reset and before feelings of discouragement or fear set in, remember knowledge is power. Share this information! The more of us who are awake to the plan and aware of their tactics the better for us all.

Please remember let other like minded people know about what is happening. You may share this article if you’d like but regardless of how, it is imperative to get this information out. 

The post The Great Reset: When, How & What to Do 2021 appeared first on Conservative Maven.