If you’ve ever suspected the gold market is being manipulated, you’re not alone – and you’re right, it is.
Money Morning Chief Investment Strategist Keith Fitz-Gerald explained to readers gold price manipulation back on March 5, 2013:
“Central banks and traders (especially the big ones acting on behalf of mega hedge funds, large-scale private funds, and institutions) can push gold prices higher – or lower,” Fitz-Gerald wrote. “The financial markets are like a football game in that there is a constant flow of energy between participants. And the ‘manipulation’ works in both directions, especially when it’s being orchestrated by the Fed and other central banks in the name of political expediency.”
Now it appears China and Russia have had enough of Western central bankers’ clandestine gold price manipulation to prop up the U.S. dollar.
The countries have started to create their own gold market, separate from the West…
With New Gold Market, China and Russia Wage War on U.S. Dollar
F. William Engdahl, an American-German economic researcher and best-selling geopolitical author, was recently quoted on the subject by business blog Sputnik on Aug. 16.
He said that while key Western banks are artificially restraining gold prices to breathe life into the diluted and devalued dollar system, Russia, China, and other emerging economies are involved in “the genial move” to establish an entirely different gold market.
Engdahl noted China and Russia perceive speculative futures contracts (based in London and New York) as lying in the same manipulative hands. He concluded the countries are of a mind to resolve Western gold price manipulation by controlling their own, separate gold market.
China’s new “Silk Road” economic development plan and $16 billion gold investment fund launched in May are all part of the plan to increase China’s gold holdings at the expense of the U.S. dollar, Engdahl cites.
Creation of a new gold market is just one way China and Russia aim to take down the U.S. dollar. In fact, there are five dangerous catalysts that will destroy the dollar and trigger a massive economic collapse. Continue here to find out from Jim Rickards how these five “flashpoints” will trigger the U.S. dollar demise …