Gold and Silver Drop. China's Shanghai Gold Exchange Closed for Week Remaining. Proof that Shanghai Sets the Price of Gold
by Pixy St. Claire
Remember our thesis.
The West hates Gold because Gold and Silver are:
1. Competitors of the Federal Reserve Note.
2. Competitors of Wall Street Financial Instruments (insurance, pensions, retirement funds, mutual funds)
3. Money that does not present counterparty risk to others.
4. Money that can not be printed for war.
5. Money that can not be printed for other financial crimes.
The Western media outlets make up reasons why Gold may drop, including:
1. A strong US Dollar.
2. Interest rates.
3. Geopolitical events.
5. Employment numbers.
6. Price of oil.
7. Inflation.
8. PMI.
Other factors that can influence the price of Gold and Silver include miscellaneous data points, such as economic indicators, market trends, and geopolitical developments.
Remember, economics is classified as a social science because it primarily deals with human behavior, social interactions, and the allocation of resources within societies rather than the study of natural phenomena governed by universal laws, as in the pure sciences.
When economists open their mouths, they might as well be discussing which witch potion works best for casting a curse on some arbitrary enemy.
Yes, I said it; it's a form of sorcery (to some degree), and "economists" are trotted out by the political class and financial engineers to make some arguments for some financialized agenda. Consider them as PR agents for Washington DC and Wall Street.
Gold's importance in global trade and capital flows cannot be overstated. Non-NATO countries like China, Russia, Turkey, and India continue to use Gold as a reliable medium of exchange, demonstrating that capital flows where it is treated best. Gold, being Tier 1 Capital, holds a significant position in the financial landscape.
The "dumping US Treasuries" trend is no longer a trend but a contagious plague, causing irreparable damage to the US financial infrastructure. The US has weaponized the dollar for decades, and now that the "end around" and escape plan are firmly cemented in the World's playbook, all the Xs and Os on the chalkboard point to Gold and Silver because they are the opposite of the US Dollar and represent freedom from Washington's tyranny.
Remember that the US lost both its gold and oil backing, so over 70% of the World (BRICS, most of Africa, most of Asia, and now even Latin America) have figured out the vulnerability of the US Bully. This alarming trend should engage and concern everyone as the World's Bully faces its deserved retaliation rooted in justice. The USA is shaken like a pit bull shakes a ragdoll while US adversaries are systematically taking turns circling the Uncle Sam Voodoo doll and inserting lethal needles.
The US and the US Dollar is receiving its comeuppance and this is death by a thousand cuts, each day weakening the Reserve Currency, a reversal of Bretton Woods in full display.
Last week, we interviewed SD Bullion's James Anderson (video below)