When the international Monetry System Collapses

[theo]

I've always enjoyed chess so the idea of major players slowly, patiently positioning themselves for some future event makes sense to me. Sometimes I think that a few powerful individuals/organizations/nations are playing this methodical game of chess while much of the rest of the world plays checkers. . . badly.

When I was in Vietnam last year my students and I exchanged gifts as is their custom. My gift to each of them (there were 35) was a pre-1940 wheat penny. This led to a slightly awkward discussion about Lincoln's assassination. They had a difficult time understanding why a President was left unguarded while there was a war going on. Their gift to me? A beautifully carved marble chess set.

Anyway this is a pretty interesting read.

In response to the continued Fed mismanagement and growing world currency war, it’s becoming clear according to Jim, that, “[Countries] want physical custody of gold…[they're] positioning for the day when there’s a massive loss of confidence in paper money…You’re seeing it with massive acquisitions of gold by Russia and China taking place through channels that bypass the London Bullion Market Association…They’re buying mines in Western Australia. They’re having the ore refined right there in Australia at the Perth Mint, and then shipping the gold straight to Shanghai. They’re completely bypassing the London market where they minimize their market impact, which is a smart move. That’s what you would do if you were trying to buy gold and not run up the price. You would do everything in secret and that’s what’s going on.”

While many still question the validity of gold, Jim notes that, “When the international monetary system collapses and it comes time to rewrite the rules of the game and create a new system…[it's] going to be [all about] how much gold you have. So it’s not surprising that everyone is trying to get their hands on as much gold as possible.”

“It’s a very deep game but you can see it playing out and it will come to an end in the next couple years,” Jim concluded.

http://bullmarketthinking.com/james-ric ... -you-have/

[johnbrickner]

Thanks Theo, good post with personal experience added. Always a good read.