The word is slowly getting out. China owns well over 10,000 tons of gold bullion in reserves. They have been accumulating at a feverish pace since the 2008 Lehman bust ... As footnote, my source informs that under the Kremlin lies perhaps 20,000 tons of gold in reserves. They have gold as old as the Vatican. The Eastern Orthodox has a large contingency in Moscow. The Russia & China tagteam are fed up with the Anglo-American monetary wars. Power is moving eastward with the gold. A new chapter cometh.This is a year old quote, uttered at a time when Koos was really just beginning to lift the veil on the SGE through his detailed research. Yet today, we have Alisdair Macleod claiming that China holds 13,000 tons of physical gold.
Now, Alisdair is not prone to hyperbole in the manner of "Dr. Jim", but it is an interesting agreement between the two in what some would still consider a rash claim.
Whether Russia truly holds 20,000 tons or not remains to be proven, but I do believe they have traditional attitudes toward their country's long-held generational gold holdings - holdings which have never been entrusted to the stewardship of some foreign vault (as has Germany's for example). Personally, I was thinking they were in the 13,000 ton neighborhood myself, but I have no solid, hard evidence, just conjecture from years of anecdotal "gray read" between the lines of officialdom.
I have often mentioned that when the curtain rises, the truth about who holds and protects what amount of public and private stockpiles of gold will surprise a great many, perhaps even myself, but I will not be surprised to learn that Russia and China have 26,000 tons between them. That is enough gold to back a freegold transition, especially with Russia's oil and gas reserves, and China's production facilities and labor force. With India as the final leg of this Triumvirate, the challenge to dollar hegemony is very visceral.
The family of course is in an uproar over this defiance of Russia, and their obvious disrespect for the pooled resources of the EU's combined holdings with all member nations.
But even the BIS cannot place all gold under its control in a strategic position to match the holdings of Russia, China and India combined, if they were to withdraw. Therefore, we ARE now in an economic world war as far as the positioning of the world economies on the global battlefield is concerned. That is to say, the lines are being drawn and each side believes it can win. This is clear. If the BIS "World Order' is to be challenged by a new axis of economic power, it's ability to avert war by placing gold where equity demands should be excercised sooner than later. Therefore, watch the Euro.
Od course, the Empire did not listen to the statesmen of Rome before the Eastern hoards of antiquity made their final assault. Today, we have a more civilized understanding of the spoils of war. Because they are always economic in nature, the spoils of infrastructure and agriculture, and valuable resources are always better left intact ... But then, the global war machinery is not staffed with Greenpeace volunteers.
So I pour a tall scotch on this day as the "Domino Prime" quivers. Once it falls, the crescendo of change it topples will be swift.