According to Alisdair Macleod China could have far more gold than it has disclosed ie up to 30,000 tons. Some say they only have 4500 tons. If China has this huge amount they will become far more powerful when the Western system collapses.

James Rickards say there will be losses of over $100 trillion. Total value of all precious metals is only $15 trillion. So we could see China increase their metal wealth by 7 times. At current prices China has gold worth $1.5 trillion X 7 = $10.5 trillion. China will become too dominant and our fools have fallen right into their trap.

http://www.globalresearch.ca/chinas-massive-holdings-of-gold-bullion-is-the-west-financially-bankrupt/5411692

If China and Russia do not allow member countries to create their own credit then it will be just like the old Rothschild Banking Cartel.

Hi Everyone,
I hadn't heard about Australia being invited to join.
I thought BRICS was simply just a way for developing countries to get around the petrodollar and to allow trade between each other more easily, but now I am wondering if they have the worlds next reserve currency (a gold backed global currency) in their sights. I think it would be foolish on our part not to investigate this offer to be more involved more seriously. Of course the US would not want to lose its position in world hegemony as well as not wanting other nations to join as it only helps to further weaken the US currency, but they cant stay the worlds reserve currency for much longer given that many countries are abandoning the petrodollar now and the US has massive debts. They have also now stopped their policy of quantitative easing.
Arjay, thanks for posting this info and don't forget that if the US dollar collapses we will probably also see a huge increase in precious metals prices as well.
- Scott

Yes Armchair, even Germany is having close talks with Russia. Germany has 3000 business who trade with Russia and they don't want to go down the sewer with the USA. France is thinking likewise. Russia supplies most of Europe's energy, this is why the US oligarchs like the Rothschilds are furious and want war with Russia and China.

PS Hungry just kicked out the Rothschild Bankers, that's why trouble is stirring there. Russia did likewise. Syria, Iran, North Korea, Iceland, China, Venezuela, and Cuba also do not have a Rothschild Bank. Notice the pattern of demonization ?

When they privatised 4 state banks and the Commonwealth here, foreign entities like HSBC, Citibank, and JP Morgan now have over 40% share holdings in all our banks. So the money just goes back OS. Half the money for growth + inflation first of all comes from central banks like the Rothschilds and our big 4 create the other half and most of that goes OS. This is why we have such a large current account deficit. More money leaves this country than what comes in even with a trade surplus.

To fix this we must move back to Govt owned banks and create our own new money for infrastructure. You will then see your taxes decline because our Govt will not then be slaves to foreign central bankers.

Yet more nonsense, Arjay. You are making a bit of a habit of this, you know.

>>China could have far more gold than it has disclosed ie up to 30,000 tons.<<

Gold is a traded commodity, like oil, palladium and lean hogs:

http://www.cmegroup.com/

The hoarding of gold would only have relevance if it were used to underpin a currency. But it isn't, so it doesn't.

Now, here's the hard part:

>>James Rickards say there will be losses of over $100 trillion. Total value of all precious metals is only $15 trillion. So we could see China increase their metal wealth by 7 times.<<

You need to explain, if you can, who is potentially going to lose that $100 trillion, and to whom.

Given that by your own estimate, the "value of all precious metals is only $15 trillion", you might also care to enlighten us on how the losses of $100 trillion are calculated.

When you have done that, we might be able to rationally discuss any potential impact on China's economy. But experience tells me we won't actually get that far.

http://www.youtube.com/watch?v=KYW5OGWfqJc Rickards is talking about the stock market excluding the toxic derivatives of 20 times this amount.

Add into the mix the over inflated property market values. All these values are based on the earning capacity of workers and real wages/ salaries are falling.

Pericluesless, you are here as a droll troll of deception and mis-information. Please go away.

Monetary value does not disappear, it just moves to another medium of stability to find expression. Real wealth exists in the knowledge and skills of your population and this present system is destroying real wealth in the pursuit of avarice and power.

Yep, didn't think you could explain yourself Arjay. As usual.

>>Rickards is talking about the stock market excluding the toxic derivatives of 20 times this amount.<<

That simply proves that you haven't the faintest idea what derivatives are, how they operate, and how you calculate net exposure to them.

>>Pericluesless, you are here as a droll troll of deception and mis-information. Please go away.<<

Actually, I am the calm voice of rationality and reason here. Oh, and facts, don't forget about those. All of which you, deep down, actually understand, but cannot bring yourself to accept.

But please, have another go at explaining this, I'd really love to hear what you make of it:

- who is going to lose that $100 trillion, and who is going to gain from it

- if the "value of all precious metals is only $15 trillion", how can losses of $100 trillion be achieved

Shouldn't take you long, if you do actually understand Rickards' video. But I still won't be holding my breath.