Louis Cammarosano: Russia to Supply China with 80 – 100 TONS of Gold Annually (Video/Podcast)

Over the course of 2016 we have seen both gold and silver move to higher ground. Both metals have a long way to go, to the upside, before they get close to the levels should be, simply based on inflation. Then you add to the mix China, Russia and the other nations, around the world, that have aligned with these two countries or are making move to align with one of the other or both and a whole other picture begins to come into view. These new alignments are important because China and Russia’s central banks are acquiring vast amounts of physical gold. My guess is neither China or Russia are acquiring all this gold simply to make more trinkets or jewelry.

Wether China is going to making jewelry, trinkets or has other ideas we can confirm Russia will be supplying China with a lot of gold in the coming months and years – from Reuters

VTB Bank, Russia’s second-largest lender, said on Tuesday:

* VTB plans to supply 15-20 tonnes of gold to China in the next 12 months;

* VTB plans to continue increasing gold supplies to China, the exact volume of supply is subject to demand in the region;

* In April, VTB said it aimed to supply between 80 and 100 tonnes (2.57-3.22 million troy ounces) of gold to China per year;

* In the second quarter of 2016, VTB dispatched its first batch of gold to China, becoming the first Russian bank to start direct supplies of physical gold to the world’s largest buyer and consumer of the precious metal.

Louis Cammarosano, Smaulgld, stopped by to discuss the precious metals market but that conversation never materialized. Instead Janet Yellen’s latest non threatening threat was the jumping off point for an in-depth conversation regarding the state of our global economy and monetary system.

What the Federal Reserve, along with their product the U.S. dollar, has done to the global economy is criminal to the say least and a high crime at worst. Let’s take look back at some recent history to paint the proper picture.

From Ben Bernanke in November 2002

“In short, according to Friedman and Schwartz, because of institutional changes and misguided doctrines, the banking panics of the Great Contraction were much more severe and widespread than would have normally occurred during a downturn.

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You’re right, we did it. We’re very sorry. But thanks to you, we won’t do it again.”

And who could forget Allen Greenspan in October 2014 stating the following

Intrinsic currencies, like gold and silver, are acceptable without a third party guarantee.

Richard Fisher in April 2016, former President, Dallas Federal Reserve

“What The Fed did, and I was part of it, was front-loaded an enormous rally market rally in order to create a wealth effect… and an uncomfortable digestive period is likely now.” Simply put he concludes, there can’t be much more accomodation, “The Fed is a giant weapon that has no ammunition left.”

 

Three different Federal Reserve representatives explaining three different scenarios that involve your wealth and how they have stolen it and along with the actual role that gold plays, even today. China, Russia and the other nations that are acquiring gold probably have these three statements framed in the Financial Ministers offices.

Give this a good listen and be sure to hold onto a gold coin, bar or round as you listen. While our conversation does not discuss precious metals directly the entire conversation is centered around money, currency and finances. Gold is money and everything else is credit.

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.