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Thread: Russia & China could set international gold price based on physical gold trading

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    Default Russia & China could set international gold price based on physical gold trading

    I think this would be in their best interest to do as N.Y and London( Bankers) are trying to keep metals at bay so Russia, China, India, Brazil & South Africa don't gain any power from a gold back system and the dollar remains King...JMHO

    Should the petro dollar die the U.S would be in big trouble. Debt debt debt

    AS I have stated many times Keep shorting and stack that fiat for $1K and lower. Use the takedowns to your advantage. Watch your stack grow...The rest of the world won't let the manipulation last for ever......But don't really care right now as they are still stacking/Buying mines.

    Since Russia, China, India, Brazil & South Africa are all either large producers or consumers of gold, or both, it is highly likely that the BRICS bloc they constitute could focus its cross-border gold trading network on trading physical gold.
    Gold pricing benchmarks from such a system would be based on physical gold transactions, which is a departure from the way the international gold price is currently established.

    OTC and COMEX are really trading synthetic derivatives on gold, and are completely detached from the physical gold market. In London, the derivative is fractionally-backed unallocated gold positions which are predominantly cash-settled. In New York the derivative is exchange-traded gold future contracts which are predominantly cash-settled and backed by very little real gold.
    Last edited by Silver and Gold; 12-05-2017 at 10:17 AM.

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