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On the storage of foreign gold to the Fed of New York
By Fofoa - Fofoa
Published May 17, 2012
576 words - Reading Time: 1 - 2 minutes
(6 votes, 5/5), 6 Comments Print Article
Article Comments Rating Also by FOFOA.
There is an elephant in the room. Jim Rickards recently presented some of his worst predictions in the recent promotion of his book Currency Wars. He said that if confidence in the dollar were to disappear completely, the U.S. confiscate gold reserves of other government, starting with those of Germany, being stored at the New York Fed. The United States could then use that gold to impose a new international monetary system based on the American currency, as they did before.
Here are some recent tweets from Jim about it:
@ Ai JamesGRickards received an offer from Germany for # of # CurrencyWars foreign rights. The Germans should read it. Chapter 11 explains why they will never again look their gold.
@ @ JamesGRickards FrankfurtFinanz Yes. This is described in Chapters 5 and 11 # CurrencyWars. Germany will never see his gold #.
Countries that have stored their gold from the Fed should be concerned? I know this puts many people into trouble, for several reasons. I presented some of my own ideas about it here, in response to Wandee who wrote 'I hope Rickards is right and the U.S. / West will gather 20ktonnes and imagine a new order between currencies '.
A few days ago, Jim was asked by King World News. Here is the link to this interview. Here is a partial transcript (Blondie):
'... This is happening right now, and it might even be good in the sense that if we combined the 8000 tons of gold from the United States and 6,000 tons we could confiscate the Europeans , the Japanese and the IMF, as well as a few thousand tons placed near JFK airport in warehouses owned by ScotiaBank and HSBC, would represent the concentration of much of the world's gold reserves in less than ten different places, and the U.S. could easily collect 17,000 tons of gold, and perhaps 20,000, representing as you probably know 70% of official gold reserves of the planet. It is sufficient to impose a new international monetary system. It would be like under Bretton Woods ... other nations would then well have stayed home, since it is the U.S. that have dictated all laws. If they retentent the same thing today with all that gold, they might say 'Hey, here's how we will do, here's your new motto, here are backed by gold dollars, and you must all accept. If you want to recover the gold, get to work and try to win. You know that we will be able to issue a bond or something like that '.
Again, this is an extreme scenario, but I think it could happen again if the situation were to worsen. What I mean is that governments will not give up, and if he suspects that a further decline of confidence in the dollar, the U.S. government is not going to curl up and cry, but use of orders and power to be able to impose changes.
[After comparing the U.S. with ancient Rome as a world superpower] ... And if we converted the European gold for our own benefit ... Think of it as a tax of 100% '.
2000 Flushes: 20,000 tons, you say?
FOFOA
By Fofoa - Fofoa
Published May 17, 2012
576 words - Reading Time: 1 - 2 minutes
(6 votes, 5/5), 6 Comments Print Article
Article Comments Rating Also by FOFOA.
There is an elephant in the room. Jim Rickards recently presented some of his worst predictions in the recent promotion of his book Currency Wars. He said that if confidence in the dollar were to disappear completely, the U.S. confiscate gold reserves of other government, starting with those of Germany, being stored at the New York Fed. The United States could then use that gold to impose a new international monetary system based on the American currency, as they did before.
Here are some recent tweets from Jim about it:
@ Ai JamesGRickards received an offer from Germany for # of # CurrencyWars foreign rights. The Germans should read it. Chapter 11 explains why they will never again look their gold.
@ @ JamesGRickards FrankfurtFinanz Yes. This is described in Chapters 5 and 11 # CurrencyWars. Germany will never see his gold #.
Countries that have stored their gold from the Fed should be concerned? I know this puts many people into trouble, for several reasons. I presented some of my own ideas about it here, in response to Wandee who wrote 'I hope Rickards is right and the U.S. / West will gather 20ktonnes and imagine a new order between currencies '.
A few days ago, Jim was asked by King World News. Here is the link to this interview. Here is a partial transcript (Blondie):
'... This is happening right now, and it might even be good in the sense that if we combined the 8000 tons of gold from the United States and 6,000 tons we could confiscate the Europeans , the Japanese and the IMF, as well as a few thousand tons placed near JFK airport in warehouses owned by ScotiaBank and HSBC, would represent the concentration of much of the world's gold reserves in less than ten different places, and the U.S. could easily collect 17,000 tons of gold, and perhaps 20,000, representing as you probably know 70% of official gold reserves of the planet. It is sufficient to impose a new international monetary system. It would be like under Bretton Woods ... other nations would then well have stayed home, since it is the U.S. that have dictated all laws. If they retentent the same thing today with all that gold, they might say 'Hey, here's how we will do, here's your new motto, here are backed by gold dollars, and you must all accept. If you want to recover the gold, get to work and try to win. You know that we will be able to issue a bond or something like that '.
Again, this is an extreme scenario, but I think it could happen again if the situation were to worsen. What I mean is that governments will not give up, and if he suspects that a further decline of confidence in the dollar, the U.S. government is not going to curl up and cry, but use of orders and power to be able to impose changes.
[After comparing the U.S. with ancient Rome as a world superpower] ... And if we converted the European gold for our own benefit ... Think of it as a tax of 100% '.
2000 Flushes: 20,000 tons, you say?
FOFOA
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