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The Recusant
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China, oil for gold and the Prospects for Gold

- Hugo Salinas Price - Plata.com

Nice article, Hugo! The Chinese have been setting up their pieces for years to checkmate the U.S. domination in world economics. First they accumulated massive amounts of gold bullion, then opened the Shanghai Bullion Exchange, and now are offering oil for Yuan while ridding themselves of devaluing USDs and T paper. No doubt, though, the Big Bank Boyz have been keeping an eye on this. The question is now, whether they will move to counter China or move to profit from China's moves. In either case, got gold?

Commented 2609 days ago

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Beginning of the headline : The Chinese have announced that they have perfected a scheme, to be launched formally in the market by the end of the year, by means of which exporters of oil to China will accept the Chinese currency, the Yuan, in payment for the oil; for this deal, the Chinese have added an incentive: the Yuan received by the oil exporters will be exchangeable for gold. This gold will be "sourced" i.e. "purchased" outside of China, for the oil exporters. Thus, the oil exporters' Yuan wi... Read More

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