The China Money Report: Gold At $7,000 Article Goes Viral In Chinese Media.

  

  The timing of this article is very interesting: we have the upcoming Swiss Gold Referendum, China buys record amount of Gold and there are more voices about US Dollar losing its reserve currency status every day. Nobody knows the future, but it is important to note: "... that most of Chinese economist think that the price of gold should be $ 2,400 / once."

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The China Money Report:

Gold At $7,000 Article Goes Viral In Chinese Media.

Dan Collins 

CMR 

“Gold going to $7,000″, an article today in the Chinese media is

going viral and one of the most viewed articles in the financial

press. The article references American Jim Rickards and his concept

of comparing inflation-adjusted gold prices. Most Chinese economists

think that the price of gold should be approximately $ 2,400 / ounce,

instead of the current $ 1,235.

The article references estimates by Jim Rickard’s that if Central banks

had to to use gold to support its currency, then the price of gold will

go to $ 7,000/ oz. That only includes the printing that has been done

already, not the continuous printing of fiat currency that continues

unabated by Central banks all over the world.

Todays volatile financial markets are a warning that todays assets have

no actual real underpinning. There is no insurance. Gold stands as the

bulwark.

Although the U.S. Dollar is the reserve currency of the world today,

gold is the key to the new millennium of global trade balances.

The Dollar is losing its reserve status, holdings by Central Banks have

been going down for decades. Meanwhile, Chinese RMB holdings are

skyrocketing across the globe. The U.S. has been running trade deficits

for 30 years, when the Dollars start to go back onshore their will be a

global puke of the financial system and inflation levels the U.S. has not

seen in its entire history.

Are you ready? China Money Report."

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  Looking at the recent advance in US Dollar you can hardly find on the surface the evidence of the groundbreaking geopolitical events Jim Rickards is talking about, but do not be so fast to disregard his prophecies.

  Has the FED found the Holy Grail and The Youth Potion in QE and printed its way out of the Debt trap? Are the markets efficient, all participants are rational and have already discounted all potential risks? We will see in the future, but we better be ready for the contrarian points of view.

UBS: If The Referendum Passes Swiss Bank Would Have To Buy About 1,500 t of Gold over 3 years.

It is the very good speech, but the most significant here is the place where it is happening: Swiss Parliament. It could be very much the beginning of the global reset. Read more."

And who is buying Gold now:

In Gold We Trust @KoosJansen.

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"It is good time to contemplate on the gold fundamentals while the sentiment in the Gold market is hitting  another low and US Dollar seems to be rising with stock markets straight into the sky now. We have now Jim Rickards himself to dissect all ongoing "Currency Wars" which lead us into "The Death Of Money".

  Developments in Switzerland and China are coming now right from the pages of Jim Rickards's books. And if you think that Currency and Trade wars in late 1920s are different from what is happening now in Europe with Russia and Ukraine, this video is for you. Read more."