Russia and the Shanghai Cooperation Organisation (SCO) Are Considering Using Gold for Pan-Asian Trade

Russia and the Shanghai Cooperation Organisation (SCO) Are Considering Using Gold for Pan-Asian Trade - BullionBuzz - Nick's Top Six

Russia and the Shanghai Cooperation Organisation (SCO) Are Considering Using Gold for Pan-Asian Trade

The comments below are an edited and abridged synopsis of an article by Alasdair Macleod

There is confirmation from the highest sources that Russia and the Shanghai Cooperation Organisation (SCO) are considering using gold for pan-Asian trade settlements, fully replacing US dollars and euros.

Currency and Exchange Stock Chart for Finance and Economy Display

Up for discussion: Introduction; enter the Middle East; the banking system is swimming naked on an ebb tide; and summary.

In short, we rely on central banks to ensure the commercial banking network’s integrity. There’s a need for accelerated currency and credit inflation to support the financial system upon which the western alliance depends, which is the only solution—at the expense of their currencies.

The western alliance is sinking into a debt crisis of its own making. Its outdated geopolitical strategy has already backfired by driving up energy prices to the benefit of its enemies. It is time for Russia to oversee the financial coup de grace because Russia will use the cover of the western alliance’s aggression and the consequences for its markets and financial system to deliver the blow. Russia is thinking ahead.

Banning Russia from SWIFT wasn’t thought through, and the consequences of the war in Ukraine are dismissed. In the west, a move to gold by Russia will be seen as a defensive response to protect the ruble and the value of Russia’s pan-Asian exports, and a deliberate attack on western fiat currencies will not be suspected. But gold will rise beyond expectations.

Russia won’t make formal announcements about gold because there is no need.

Nor will China. And having dropped the EAEU trade settlement currency as the intended replacement for the US dollar, the SCO will effectively adopt gold in its place.

Initially, a soaring gold price in dollars won’t create alarm in the west. Gold, however, will be used to price all major international goods. These prices will be stable with low interest rates, while prices and interest rates will be soaring in dollars. It will become obvious to the public that it is not prices that are soaring, but dollars collapsing.

As fiat dollars, euro, yen and pounds lose purchasing power against not just gold but all commodities, comparisons will be made between the relative success of the Russia-China axis embodied in the SCO, the EAEU and BRICS. Driven by Chinese savers, capital investment, discounted energy and sound money Asia will boom.”

And there will be little that America and its NATO allies can do to stop it.


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