Is China Taking Over The World’s Gold?

in July 2016 China started negotiations to buy the bottle costs for gold mine in can extend this was anything but an innocuous business seal for many it confirmed long-held suspicion that the secretive state was moving to control the world currently since 2007 china has mind and purchased more gold than any other country on Earth storing it in enormous top secret vaults dotted around the world its rate of gold accumulation have been so fast that Russian news outlet RT lightens China's behavior to hoarding gold like a dragon it's cryptic behavior has led many like conspiracy theorist alex jones to insist that china is manipulating global currently to reach its ultimate goal world domination in 2016 China's mining deals reached a record 27 billion dollars three times larger than the previous year at its current rate of expansion chinese gold reserves will be the largest in the world within the next decade in may 2016 the guardian newspaper revealed that China's icbc standard bank had purchased one of the largest gold vaults in Europe it can store up to 90 billion dollars of gold just months area news leaked that icbc was secretly bidding for a daughter bank vault capable of storing 1,500 tons of the precious metal Alex Jones believes that this covert gold practicing spree will be used the same way the US have used the World Bank IMF and the dollar to control government countries and people this may explain the mysterious inconsistencies around chinese gold stores according to official figures china has the world's sixth largest gold reserves in June 2016 China said it had 1658 metric tons of gold yet financial analysis based on the country's trading figures and records of the China goals Association suggests this is a vast under estimate according to bloomberg intelligence the real figure is around a double China's cream it seems china is accumulating stops at a much faster piece and it wanted to admit China expert and confusion philosopher dr Boston say this activity is an underhanded attempt to control world gold prices and usher in an era where the UN is dominant he called this China's leap forward to control the world's currency Chinese activity in global financial institutions across the last 12 months suggest this is no overstatement in October 2016 China gained entry into the international military fun special drawing rights basket in this became a counterweight to other SDR currencies including the US dollar it also gave the UN much greater international value in doing so it weekend and reduced global dependent on the dollar the timing and precision of this process indicates a deliberate currency strategy is secretly taking place china has also been selling off its massive US dollar reserves to strengthen the UN and reduce its reliance on the american currency in October 2016 its holdings dropped by 40 1

3 billion dollars to a new total of 111 five trillion dollars this was the sixth consecutive month let China had sold off significant amounts of it dollar holdings this is reflected in its international behavior in 2015 chinese yuan was advertised at Southeast Asian airports which many argue is an aggressive challenge to the rest of the world financial Simon black says this campaign make sure that everyone arriving at the world's busiest airport sees it the Chinese know that the future belongs to them and their flaunting it the confrontational response from senior political figures certainly suggests that China's behavior is having a far-reaching impact US President Donald Trump has spoken against China's currency practices in one interview he said instead of saying where the evaluating our currency they say Oh our currency of dropping its not dropping they're doing it on purpose however whilst the pace at which China is buying gold is alarming its actual reserves are not yet large enough to cause serious concerns and Bloomberg intelligence has pointed out for China to fully back if you an it would require around 525 thousand tons of gold this is three times the amount that has ever been mined moreover even if it does have three thousand metric tons of gold the monetary value is a relatively insignificant 130 billion dollars more alarming is it three point two trillion dollars in foreign exchange reserves if China is planning to control global currency gold is one of the least important areas for concern yet even this is unlikely there is no proof that China has been devaluing its currency as the Washington Post noted in response to Trump's comments China does not meet the definition of a currency manipulator undercurrent us laws and China hasn't devalued its currency for about two years the Chinese economy has also been experiencing economic slowdown with its lowest rates of growth since 1990 its gdp per capita is still just 8440 $1 meaning it still has a lot of catching up to do before it is even classified as a developed country until this happens it's prospect for controlling the world's currency are limited China's recent financial activities are worrying government secrecy over its gold stores suggest there may be something suspicious going on but at this point in time it really is very hard to say whether it plans to control the world's current e

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