… there is some very important news on gold, something not getting much publicity. In January the news was that India had an agreement with Iran to buy oil with the payment from India in gold. Now we hear that China has made a similar agreement with Iran. This signals that the “bullion banks” together with the western central banks, are losing control over the gold market.
Gold is now being monetized. China has decided that it will not be ruled by the BIS (Bank for International Settlements), which is the “central bank for central bankers.” China makes it clear that it will not be dictated to. Other central banks will now see that they must increase their gold holdings as gold is re-entering the global payment system. The bullion banks have very big short positions in gold. Eventually they will have to close those positions. That could produce the parabolic move in gold that we have mentioned for some time..
...............…. Bert Dohmen.
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