China: Gold price decline premeditated. U.S. has started a currency war -
January 15, 2014 / D.Collins / One comment
China National Gold Group Corporation, General Manager Sun Zhaoxue has come out and told the world media that the U.S. is suppressing the gold price.
The reason for America’s manipulation of gold is to ensure U.S. Dollar dominance on the world stage.
America has by default ended up with the world’s reserve currency and therefore , get the world to work for them in exchange for an ever increasing supply of printed greenbacks.
He also went on with an excellent analysis on of America’s war against Europe and the Euro using their investment banks.
Another good insight from Sun Zhaoxue is that while major players like Warren Buffet and Goldman Sachs talk about how they hate gold and forecast price declines they have made large bets on gold and gold companies.
His comments from the Liujiazui economic forum were as follows:
It's typical legal mumbo jumbo from foreign politicians looking for contributions. Barrick is a stand up company and even though they messed up on contracts at PL the company isn't the evil empire some people make it out to be. Lot of good people there.
That said, I am still very hesitant to buy back into mining. Brother over at Newmont has the same assessment. It might be another decade before we see these prices back to 2011 levels.
I'd honestly rather take a chance on TWTR (Twitter - $62 and ready for blast off) than put money back into mining. Popularity is the name of the game these days, not financials.
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