A Golden Block Is Emerging Right Before Our Eyes

A Golden Block Is Emerging Right Before Our Eyes by Rory for The Daily Coin

We have been following Kazakhstan’s continued acquisitions of physical gold for the past several years. We have reported on their movement in several reports each year beginning in 2014. This month marks Kazakhstan’s 75th straight month of acquiring physical gold. Once again climbing the ladder of global gold hoard.

Currently Kazakhstan is 15th in the world and rising quickly. If Kazakhstan continues as they have they will pass Portugal before years end and move into 14th place globally. Louis Cammarosano, smaulgld, produced the chart below showing the continued growth of the Kazakhstan gold reserves.

We saw Russia move into 6th place late in 2018 passing China. If China continues to acquire gold, as they have the past two months, then Russia and China will climb, in tandem, right up the ladder move past France with 2,436 tons and then set their sights on Italy with 2,451 tons. None of the top 4 gold reserves have changed, up or down, in several years. It will be interesting to see how Italy plays out over the next few months with Salvini vowing to repatriate Italy’s gold and possibly using it for payments on debt. The gold world is definitely heating up.

The golden east block of China, Russia and Kazakhstan have all added tons of gold to their monetary reserves over the past several years. In 2018 we saw Iran, Turkey, Hungary, India, Mongolia and Poland reenter the gold market and begin either acquiring official gold to add to their monetary reserves, or increase their imports of physical gold to keep up with increased citizen demand. The gold markets outside the western world are on fire.

Gold is the enemy of fiat currency. The list of nations above are all in the crosshairs, for one reason or another, with the western world. China has the least scrutiny hurdle at her due to the fact they own the U.S. debt and the western world can’t afford to anger the dragon. The other nations, especially Russia, are all subject to the wrath of the Federal Reserve Note and being punished to the fullest extent of a weaponized currency.

Just recently Russia has been making lots of noise regarding gold. Not only has Russia been consistently adding gold to their monetary reserves month after month for close to decade, they just recently announced the discovery of 63 million ounces of gold in Siberia.

Tests commissioned by the company last year and undertaken by Australia-based AMC Consultants, along with a scoping study conducted in 2018, determined that there are 63 million ounces of gold at Sukhoi Log, Polyus has told investors. While independent mining analysts haven’t confirmed that estimate on their own, many of them refer to Sukhoi Log as one of the world’s largest untapped gold deposits.

“And that may just be the beginning,” said Polyus geologist Svetlana Deys. “The gold could extend far beyond the reach of the Sukhoi Log license.” Polyus says the prospective mine holds approximately a quarter of all Russia’s known gold underground. Source

Combine this with the fact that Iran is working on a cryptocurrency, possibly backed by gold, and you have a recipe for major disruption to the global ponzi scheme known as the world reserve currency, Federal Reserve Note.

The director of Kuknos, the blockchain company taking care of the technical aspects, said that the new crypto asset is a way to tokenize assets and excess properties of the banks. A billion PayMon tokens will be initially released, according to the article.

As Cointelegraph recently reported, Iran is allegedly negotiating with Switzerland, South Africa, France, the United Kingdom, Russia, Austria, Germany and Bosnia to carry out financial transactions in cryptocurrency.

Iranians Protect Savings By Stacking Gold Bars in 2018

Recently, rumors spread that Iran could unveil its state-backed cryptocurrency at the Electronic Banking and Payment Systems conference that took place last week in Tehran, but the announcement has not been made as of press time. In July 2018, it was reported that the country confirmed that it will create its own state-issued cryptocurrency to circumvent United States sanctions. Source

This is becoming a serious blockade and if you don’t think so, please go back to the top and re-read what is spelled out. We have major economies moving away from Federal Reserve Note, Treasury based debt instruments and acquiring massive amounts of gold to sidestep this scheme.

If you combine China, Russia and Iran’s economies you have a power house blockade. Combine with these three economies the other TEN nations listed in this one article with several of those nations either continually acquiring gold, recently repatriating gold or getting back into the gold market to add to their golden monetary reserves and you have an undeniable picture of change. There is a total of 13 different nations listed in this one article. Most, if not all, these nations are member of the G20.

This is what real change looks like. This is how gold comes back to the monetary system. If Iran goes rogue and releases a gold backed cryptocurrency, PayMon, as a global trade instrument, well, everything will begin changing very, very quickly.

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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.