It’ll Happen Overnight! China & Russia Are About to Change the Gold & Silver Prices - Andy Schectman

It’ll Happen Overnight! China & Russia Are About to Change the Gold & Silver Prices - Andy Schectman

In recent months, significant developments in the global gold market have come to light, potentially signaling a shift in the international monetary landscape. These developments, primarily overlooked by Western media, could have far-reaching implications for the global economic order and the US dollar's status as the world's reserve currency.
According to customs data, the People's Bank of China continued to purchase gold in May at a rate of 53 tonnes despite publicly announcing a halt to its buying program. This revelation suggests a strategic move by China to acquire more gold while attempting to dampen its price.
Andy Schectman, CEO of Miles Franklin Precious Metals Investments, suggests China and Russia may soon reveal larger-than-reported gold reserves. This could shift economic power eastward, challenging US dollar dominance globally.
Gainesville Coins reports that "unreported" PBoC gold purchases surged following Western nations' freezing of 300 billion dollars in Russian central bank foreign exchange reserves in early 2022, a consequence of the ongoing conflict in Ukraine. Notably, the UK began substantially exporting 400-ounce gold bars to China during this period, suggesting a possible correlation.
These events coincide with China's apparent takeover of gold price control from Western markets, breaking the traditional correlation between gold prices and "real rates."
Schectman notes that insiders and some countries are stockpiling gold, preparing for a potential shift in the global financial system. However, Western media largely overlooks these developments and the possible decline of the petrodollar despite their critical importance.
Adding to these global trends, the Bank of Zambia has recently announced a de-dollarization plan for domestic transactions. This move aims to enforce existing laws that establish the local currency, the kwacha, as the sole legal tender in Zambia. This decision aligns with a broader trend of countries seeking to reduce their dependence on the US dollar.
As the BRICS nations continue their efforts to reduce reliance on the US dollar, the American financial system faces mounting challenges. The Federal Reserve has reported over 1 trillion dollars in paper losses, with more than 100 billion dollars actualized, signaling potential instability for the dollar.
Schectman describes an unsustainable cycle: struggling nations buy US bonds, funding American debt. The US uses proceeds for interest payments and BRICS commodity purchases. BRICS nations then accumulate gold instead of reinvesting in treasuries, weakening the dollar and pound.
China, a key player in this shifting landscape, has further reduced its holdings of US Treasuries. China's Treasury holdings fell to 805.4 billion dollars in August, the lowest since May 2009. Some analysts suggest this sell-off could be linked to China's efforts to defend its weakening yuan, potentially using the proceeds from Treasury sales for currency intervention. These interconnected developments paint a picture of a global financial system in flux.

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[AngelEyes-xmel]

We al know except the sheep. The Shepard thinks the sheep can't know.

[marthalaird]

We better have a lot of Gold and silver!!!

[donfischer]

Heard the same thing years ago when china opened up an exchange and nothing happens at al