We have $10 million in gold and silver in denominations small enough that we can use for payroll. We want to be able to keep our employees paid, safe and our site up and running during a financial crisis.
We also happen to have three months of food supply for every employee that we can live on.
One of the important points that Sarkisyan makes is that China does not want to see the dollar collapse, and neither does anyone else. Because the dollar is still a very effective and useful means of international exchange.
However, the problem is that the US is using the dollar and other parts of the global commons which it controls (for example, the internet) not as a public good delivered for the benefit of the entire system, but as a weapon in the global hybrid preventive war aimed at preventing or at least delaying its decline. Which everyone, including the US, is seeing happen.
So these and other gold measures are defensive, rather than offensive, in nature.
In closing, the Western mainstream media has done a brilliant job of further trashing Russia’s reputation, by smearing all wealthy Russians as “criminal oligarchs”.
In terms of propaganda coups, it ranks right up there with tarring people and countries as conspiracy nuts, liberals, extremists, commies, terrorists, and the whole panoply of slurs, which is ruthlessly used by the Washington-London-Paris consensus.
This includes ceaseless attempts to discredit Baba Beijing and the Chinese Communist Party. Behind the Great Western Firewall, this all results in the effective brainwashing and control of the masses.
If that sounds like a strong statement, remember, they call it a “free press”, and 99% of the people actually believe it is true.
So who will be running the “fresh, new” BRICS Bank? Guys who hang out at Davos, who help run the “tainted, old” IMF and World Bank, and who are trained by the London Establishment and the Vatican Jesuits.
John Maynard Keynes in 1927: “We will not have any more crashes in our time.”
H.H. Simmons, president of the New York Stock Exchange, Jan. 12, 1928: “I cannot help but raise a dissenting voice to statements that we are living in a fool’s paradise, and that prosperity in this country must necessarily diminish and recede in the near future.”
Irving Fisher, leading U.S. economist, The New York Times, Sept. 5, 1929: “There may be a recession in stock prices, but not anything in the nature of a crash.”
And on 17, 1929:“Stock prices have reached what looks like a permanently high plateau. I do not feel there will be soon if ever a 50 or 60 point break from present levels, such as (bears) have predicted. I expect to see the stock market a good deal higher within a few months.”
W. McNeel, market analyst, as quoted in the New York Herald Tribune, Oct. 30, 1929: “This is the time to buy stocks. This is the time to recall the words of the late J. P. Morgan… that any man who is bearish on America will go broke. Within a few days there is likely to be a bear panic rather than a bull panic. Many of the low prices as a result of this hysterical selling are not likely to be reached again in many years.”
Harvard Economic Society, Nov. 10, 1929: “… a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall.”
Our grandchildren’s history books will reference these two international meetings, Bretton Woods and Ufa, as post-World War II geopolitical milestones, and transformative benchmarks in the world order.
This of course, unless Western/Israeli colonialism does not push humanity to the brink, with a last desperate attempt to save its fascist empire, with World War III.
That’s pretty impressive, but it falls far short of what investors had expected.
When they first announced that they were going to reveal their stockpile two months ago, the most conservative estimates placed their gold holdings at 3000 tons, or double what they recently reported.
Due to the fact that China is the largest gold producer, and nearly the largest gold importer, their current numbers are dubious at best.
As for why they may still be under reporting their gold reserves, they probably don’t want to alarm the markets.
They want to keep prices low so they can keep accumulating more, which given the amount of gold they’ve officially bought, they’re obviously determined to keep buying.
And since the price of gold and the value of the dollar have an inverse relationship, they want to keep gold low so that their massive dollar reserves stay valuable (which they’re still in the process of selling).
At some point they’re going to use their gold reserves to challenge the supremacy of the dollar, but for now, they’re going to keep prices low while they hoard as much as they can.
"Greece is being 'hit', there's no doubt about it," exclaims John Perkins, author of Confessions of an Economic Hit Man, noting that "[Indebted countries] become servants to what I call the corporatocracy ... today we have a global empire, and it's not an American empire. It's not a national empire... It's a corporate empire, and the big corporations rule."
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