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China prepares to announce their gold reserve amount by end of the month

Goldhedge

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#1
As China prepares to announce their gold reserve amount by end of the month, debate over gold backed Yuan increases sharply

10:22 AM

As part of their requirements to enter into the SDR basket of currencies in October, China will soon be revealing the quantity of their gold reserves sometime between now and Sept. 30. And with them also recently being appointed the managers of the M SDR internationalization program, debate over China implementing a gold backed currency is once again increasing at an accelerating rate.

At the heart of the discussion is how China is using their growing geo-political power to integrate 3rd world nations, especially those in Africa, in moving forward despite not having the economic finances to expand their infrastructure base. And to date this has been shown to be moderately successful in a myriad of different ways, and could be the catalyst for catapulting a gold backed Yuan using their growing alliances and Silk Road strategies to envelop a large portion of the world under a financial umbrella that would be impervious to U.S. and Western subjugation.



In his March interview with CCTV the geostrategic analyst highlighted that China is "facilitating trade and development for Third World nations in ways major Western funders could not." Beijing is interested in boosting logistic networks in Eurasia and therefore it founded the Asian Infrastructure Investment Bank (AIIB) to fund the projects.

Furthermore, "China may also offer barter trades in lieu of cash transactions for rail infrastructure projects, as was the case with Thailand. It seems to work. For cash-strapped economies, barter may emerge as an essential instrument of regional economic stability and a 'gold yuan' may help facilitate such a paradigm shift," Maavak elaborated speaking to Sputnik. In the context of the ongoing Eurasian integration, the RIC (Russia, India and China) nations may "weaponize" their gold holdings to ring-fence the Greater Eurasian geo-economy, according to the analyst. - Sputnik News

Whether it is through a gold backed SDR, or a gold backed Yuan, the world is rushing towards a return of some form of a gold standard. And unfortunately for the West, which has been spending their currencies bailing out their banks and propping up their stock markets, China has been the one cultivating economic partnerships that when the time comes, could catapult them into becoming the masters of the next global financial system.




http://www.thedailyeconomist.com/2016/09/as-china-prepares-to-announce-their.html
 
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#2
^
^
As part of their requirements to enter into the SDR basket of currencies in October, China will soon be revealing the quantity of their gold reserves sometime between now and Sept. 30.
IMF indicates Mainland China ( PRoC ) held 58.79 million troy ounces at end July 2016 [ which is about 1828.573 tonne ]

@ http://data.imf.org/?sk=1117171F-7E11-4E80-A28E-439E4F3D1EEF
==>> Select By Country
==>> Select China P.R.: Mainland

how much more China will declare is just about anyone's guess - - - - the suspense is a real cliff hanger

... and could be the catalyst for catapulting a gold backed Yuan
I guess the hype ( re: China, SDR, gold backed Yuan, BRICs, AIIB, etc ... ) may blow over a few days / weeks / months after 1 October 2016

http://www.imf.org/external/np/sec/pr/2016/pr1690.htm
 

REO 54

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#3
How will thier amount be verified? Like we do at Fort Knox?
 

OhWell

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#4
With a slight twist, we are we are probably lying about the gold we don't have, they are lying about the gold they do have.
 

Ragnarok

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#5
Absent certifiable proof, it's all bluff and bluster bs imho.

R.
 
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#6
^
from http://www.thedailyeconomist.com/2016/09/as-china-prepares-to-announce-their.html
is
^
As part of their requirements to enter into the SDR basket of currencies in October, China will soon be revealing the quantity of their gold reserves sometime between now and Sept. 30.
^
from November 30, 2015 https://www.imf.org/en/News/Articles/2015/09/14/01/49/pr15540
is
" A key focus of the Board review was whether the Chinese renminbi (RMB) met the existing criteria to be included in the basket. The Board today decided that the RMB met all existing criteria and, effective October 1, 2016 the RMB is determined to be a freely usable currency and will be included in the SDR basket as a fifth currency, along with the U.S. dollar, the euro, the Japanese yen and the British pound. "

I must conclude that the story put forward by thedailyeconomist.com is nothing but Pure Pig Shit, I'll not read from thedailyeconomist.com again

http://www.imf.org/external/np/pp/eng/2011/092311.pdf

The IMF does not use the words " reserve currency ".

For Gold Holdings reported to IMF ( same data are used by World Gold Council )
see

http://data.imf.org/?sk=1117171F-7E11-4E80-A28E-439E4F3D1EEF&ss=1450382449040

as indicated above