Could there be a dramatic and overnight reduction in the value of the dollar? “I think this is coming in very short order now. The trail of bread crumbs is indicating this is what is afoot RIGHT NOW.” (macroeconomic researcher Rob Kirby)
I have been following recent events this week of the emergency Federal Reserve meetings, the admission by Deutsche Bank of precious metals price rigging, China’s new ‘Interbank Payment System’ (CIPS), and the new gold trading market at the Shanghai Gold Exchange. This, coupled with China’s enormous accumulation of gold over these past years has triggered my notion to post and alert you of what may be coming our way – and potentially very soon…
A flooding of dollars back to the U.S. resulting in a rapid devaluation of its purchasing power (currency inflation).
“This is going down… this is going to happen.”
“I think this is going down in the next two, three weeks.”
“The clock’s about to strike midnight…”
One of my regular morning stops as I browse the web searching for alternative news is Greg Hunter’s site. I was surprised to see this morning that he replaced his normal Friday wrap-up with an ’emergency’ post of sorts – an interview with Rob Kirby. Having read the post and listened to the interview, it all matched up with what I’ve been surmising myself – so my gut told me to post on the subject, given it’s potentially dramatic outcome:
Earlier this week (Monday) when I read multiple reports of emergency meetings of the Federal Reserve, I thought something ‘was up’ – especially when it became obvious that it was ‘secret’. But what made it even more interesting was when the Fed Chairman went over to the White House and met with the President and the vice President. Again, secretive – while some lame excuse was fed to the lapdogs of the press. However, to me, this screams of a ‘national security’ issue…
As the week went on I read about major troubles at one of the world’s major banks, Deutsche Bank (German Bank) which has taken on a catastrophic amount of reckless credit market risks – with its tentacles of derivatives reaching far and wide into ‘the system’… but it was the report that it was turning ‘rogue’ against the system that really caught my eye:
Earlier today (Thursday) when we (ZeroHedge) reported the stunning news that DB has decided to “turn” against the precious metals manipulation cartel by first settling a long-running silver price fixing lawsuit which in addition to “valuable monetary consideration” said it would expose the other banks’ rigging having also “agreed to provide cooperation to plaintiffs, including the production of instant messages, and other electronic communications, as part of the settlement” we said “since this is just one of many lawsuits filed over the past two years in Manhattan federal court in which investors accused banks of conspiring to rig rates or prices in financial and commodities markets, we expect that now that DB has “turned” that much more curious information about precious metals rigging will emerge, and will confirm what the “bugs” had said all along: that the precious metals market has been rigged all along.”
The curious glaring question is “Why are they admitting it now?”, especially since many of us have known about the orchestrated manipulation and price rigging for years (coordinated by the U.S. Treasury with the Federal Reserve and the banking cartel – in order to help hold up the dollar within the system)…
A little more info:
China’s ‘Interbank Payment System’ (CIPS) is a new system which offers clearing and settlement services for its participants in cross-border payments and trade.
SWIFT (The Society for Worldwide Interbank Financial Telecommunication) has been the De facto European-centric network that enables financial institutions worldwide to transact, and is used by most all international banking institutions.
The interesting thing is this… SWIFT, has just inked a memorandum of understanding (MOU) with China’s (CIPS), which will integrate China and the Chinese Renminbi (RMB -their currency – aka the yuan) for payments with the broader global SWIFT community.
Let that sink in a little bit more. This effectively means that there will be less of an incentive, requirement, or need, to transact only or primarily in U.S. payment systems (the Clearing House Interbank Payment System, and ‘the Fed Wire’). This will be a very big ‘can of worms’ for the dollar’s reserve status as China’s merger with SWIFT develops.
But there’s something even more telling:
The Shanghai Gold Exchange (a ‘physical’ gold exchange as opposed to ‘paper’ gold) will apparently be going live on April 19 and will place China squarely on the stage of yuan-denominated ‘price discovery’ for gold. Once the price setting is out of the western criminal (rigged) price setting system (COMEX, LBMA), what do you think might happen?
Now let me take this a step further. ‘What if’ China announces that their currency (the Remnibi, also known as the RMB, or yuan) is now backed by a percentage of gold? Anyone who has been paying attention knows that China has been aggressively amassing gold – much more than they have been officially announcing, and many suspect that this has been their eventual aim (to insert themselves into the competing status of a currency reserve and to diminish the dollar’s role as the sole reserve currency).
What then will happen to the dollar?
Answer: Since there are SO MANY dollars (electronic digits thereof) out there in the world, when the time comes when they’re not needed so much anymore much of it will come flooding back home.
What happens then?
Answer: Prices will go up due to the inherent devaluation effects. How much and how quickly will depend on the extent of the global reset.
It is the opinion of Mr. Kirby (and many others) that this is all coming together very soon, and nearly every American is completely unaware.
I’m not offering any particular advice, but I’m just putting it out there for your consumption.