Gold Leaving US Vaults: Signs of Upcoming Currency War and Armed Conflict

Gold Leaving US Vaults: Signs of Upcoming Currency War and Armed Conflict

The Turkish government has made the decision to repatriate all of its gold reserves that are currently housed in the US Federal Reserve System (FRS). Overall Turkey was storing 220 tonnes, valued at $25.3 billion, in the US, which it repossessed on April 19, 2018. Turkey’s President Recep Tayyip Erdogan has toughened his stance against the US dollar…

Turkey will Repatriate All Gold from the US in Attempt to Ditch the Dollar

Turkey will Repatriate All Gold from the US in Attempt to Ditch the Dollar

After Venezuela, Germany, Austria and the Netherlands prudently repatriated a substantial portion (if not all) of their physical gold held at the NY Fed or other western central banks in recent years, this morning Turkey also announced that it has decided to repatriate all its gold stored in the US Federal Reserve and deliver it…

China’s Gold Backed Petro-Yuan Challenges US Dollar Hegemony

China’s Gold Backed Petro-Yuan Challenges US Dollar Hegemony

Its introduction poses the first ever challenge to petro-dollar dominance. China is the world’s largest oil importing/consuming nation. Gold-backed petro-yuan futures trading began Monday on the Shanghai International Energy Exchange, part of the Shanghai Futures Exchange – letting Chinese and foreign traders buy oil in yuan instead of dollars. For the first time, petro-yuan trading…

Death of US Dollar? China Launches Petro-Yuan to Challenge Greenback’s Dominance

Death of US Dollar? China Launches Petro-Yuan to Challenge Greenback’s Dominance

The highly anticipated yuan-backed crude oil futures have been launched in Shanghai. China is the world’s biggest oil consumer, with eyes on rival benchmarks Brent and WTI as well as the US currency. Trading of the new oil futures contracts for September settlement started on the Shanghai International Energy Exchange at 440.20 yuan ($69.70) per…

Your Guide to Dispelling Every Western Myth about China

Your Guide to Dispelling Every Western Myth about China

From 1945 to the present day, the US and its close European allies have developed a geopolitical narrative which in the minds of its authors, offered a blueprint for international peace and prosperity. According to this narrative, confrontational multi-party democracy, a rejection of constitutional secularism, an internally de-regulated market, an adversarial press and geopolitical alliances…