Sweetest music to my ears since…well, ever!
It was only a matter of time before Russia and China knocked the “golden” ball out of the park.
If you don’t own gold by now, you may never own it. Not because of its scarcity, but its price.
Perhaps those owning Bitcoin may be able to convert it to real coins.
CIGA Wolfgang Rech
I guess we only have 28 days to wait and discern whether or not the BIS does actually cave?
June 28: Bank for International Settlements Caves In to Russia and China
June 1, 2021
On April 6, 2021, the website “Russia Today” made an announcement: (https://www.rt.com/russia/520258-putin-major-address-future/).
“Putin poised to set out vision for future in dramatic speech, in what allies say will be the ‘world’s most important political event'”
However, it turned out that Putin did not set out any vision for the future, in any dramatic speech, and “The world’s most important political event” did not take place.
What has been going on?
In my opinion, there is only one explanation for this odd situation: Putin was threatening to restore gold backing for the Russian Ruble and for the Chinese Yuan, and this scared the living daylight out of the BIS, the Bank for International Settlements of Basel, Switzerland, which caved in to the pressure from Russia and its ally, China.
As a result of Putin’s threat, this May the BIS advised that it was implementing new rules to govern international banks, regarding the presentation of amounts of gold which they hold, which are no longer to include “unallocated gold”.