Remember when the BRICS meetings started happening and everyone laughed it off? Many blew it off as something that wasn't feasible or would fall apart due to infighting. There was no real threat to the dollar. De-dollarization is just a FUD topic being thrown out there for [insert ridiculous excuse here]. Whether their plan works or not, China appears to be hedging its bets with gold. Lots of gold.
Back on November 2nd, Zero Hedge reported that Chinese banks were "disappearing" from the LBMA (London Bullion Market Association).
(Source)
Some may not think that's a big deal. Chinese banks started joining the unallocated LBMA gold auctions in 2015, since they were not allowed to be part of the allocated auctions. The significance in that is unallocated participants do not have an ownership claim on individual bars, whereas allocated participants do.
There were many announcements celebrating the induction of these banks into the unallocated auctions. Now, just 8 years later, they're gone?
So the last bank asks to suspend itself? Considering no prior participant has asked itself to be suspended, I'd say that's a huge red flag.
Now an article on Kitco comes out telling everyone that it's suspected that China is vastly underreporting its gold purchases.
(Source)
Notice the last paragraph. They're buying gold "under the radar" so they don't cause a price spike, and can keep buying it cheaply while Western nations stupidly obsess over trading paper contracts. It sure sounds to me like China is expecting BRICS to succeed. 5,220 tons of gold is a LOT of gold. Considering that's just a guess, it's clear China is determined to keep its true gold reserves secret. Whether BRICS succeeds or not, they'll have no trouble paying other countries in gold for anything they want or need.
De-dollarization is a real threat. Why would any country want dollars when you can have gold or other tangible resources? The world is quickly realizing that Federal Reserve notes aren't worth anything and are more trouble than they're worth. Regardless of which country you live in, it's important we change how we think. The world is rapidly shifting from a valuation of paper currency to tangible assets. In this new age, silver and gold will be highly sought after. Buy it while you can and preserve your wealth for the future.
If you're not sure where to start buying gold or silver, visit www.bullion-tools.com.
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