Elle said:

"This was a 70-year charter/loan of just over 78 billion kg of gold worth..."

Latest figure for all the gold in the world, BBC News:

"Estimates range from 155,244 tonnes, marginally less than the GFMS figure, to about 16 times that amount - 2.5 million tonnes."
http://www.bbc.com/news/magazine-21969100


155,244 x 1000 = 155,244,000 kg
2,500,000 x 1000 = 2,500,000,000 kg

The latest estimates of the world's total refined gold are between
155.244 million kg, and 2.5 billion kg.


Perhaps, you should recheck your figures?

According to your post, in a single transaction, the Dragon family has funded the United Nations with more refined gold than exists on the entire planet!

"Xi’s anti-corruption campaign has ensnared scores of officials from the prominent (the “tigers”) to the obscure (the “flies”), and as Foreign Policy wrote on Thursday, “the CCDI [just] released a communiqué promising to maintain ‘unabated forces and unchanging rhythm’ in pursuing the goal of a China where, as Xi put it, officials are ‘unable and unwilling to engage in corruption.’”

Some 1,500 officials have seen their cases publicly announced. All 1,500 are represented in the following excellent interactive graphic from China File called “Catching Tigers and Flies.”

In settling out of court, Deutsche Bank is admitting that they “conspired… to fix silver prices at the expense of investors.” Hence, no longer is this a “conspiracy theory.” The bank is admitting it and wants to settle the case with the court. Two other banks, HSBC and ScotiaBank, are being charged as well, but so far they have not admitted guilt, nor have they reached a settlement.

http://www.reuters.com/article/us-deutschebank-settlement-silver-idUSKCN0XA2RU



The case is In re: London Silver Fixing Ltd Antitrust Litigation, U.S. District Court, Southern District of New York, No. 14-md-02573.

In addition, Deutsche Bank has agreed to provide the court with incriminating evidence against the other banks, according to their letter to the Judge. This letter is reproduced by zerohedge.



So, for all those who have converted FRN’s to silver over the years, your decision may soon pay off. It remains to be seen how this court case will actually affect the price of silver, but it is certainly a major step in the right direction. Silver has been grossly undervalued over the past decades, due to this price manipulation. The high demand for silver should have sent the prices through the roof a long time ago, were it not for the price manipulations of these banks.

- See more at: http://www.gods-kingdom-ministries.net/d...h.f7gwBVHm.dpuf

This was confirmed moments ago when Reuters reported that Deutsche Bank has also reached a settlement in US litigation alleging the bank conspired to fix gold prices. In other words, hours after admitting it was rigging the silver market, it did the same for gold.

"The CFTC, which investigated such rigging for years and “found no evidence” that any way taking place, ought to be investigated for a massive cover-up that allowed this crime to continue for years unabated.

That is the opinion of Rob Kirby in this very revealing half-hour video interview.

https://www.youtube.com/watch?v=9FI01zevYxM&app=desktop


- See more at: http://www.gods-kingdom-ministries.net/d...h.7pETdZ0h.dpuf

Emergency Fed meetings at the White House, the launching of new gold trading market at the Shanghai Gold Exchange, revelations Deutsche Bank admitting it manipulated gold and silver prices, China starting its own global payment system. These may all seem unrelated, but according to macroeconomic researcher Rob Kirby, they are all connected. Kirby explains, “With China and their upstart CIPS, which is the China Interbank Payment System, China appears to be on the verge of merging their interbank payment system with SWIFT. My gut is telling me that this will very much marginalize America as the main processor of global payments. This, in my view, will embody very possibly a global reset in terms which currency is going to be the world’s reserve currency. I have a very sneaking suspicion that when China merges with the SWIFT system, I believe there is a very strong possibility that China will back their currency with gold. I do believe this is why China has aggressively been buying physical gold for the past 10 or 15 years. They have been doing it with a view to dislodging the dollar or greatly diminishing the dollar as the world’s reserve currency. That’s what I think is at play right now. I think U.S. bankers and regulators have caught wind of this and are aware it is coming. I also believe this is the reason for all the secret meetings they have been having. The Federal Reserve Board met in secret behind closed doors (Monday morning), and they gave us some frivolous reason why they were meeting. The Fed Chairman, that Monday afternoon, walked over to the White House and met with, not just the President, but also the Vice President. The notion that the President and Vice President would be in the same room at the same time tells you this is national security related. If you don’t think the preservation of the dollar as the world’s reserve currency isn’t a national security issue, you better think again.”

Could there be a dramatic and overnight reduction in the value of the dollar? Kirby contends, “I think this is coming in very short order now. The trail of bread crumbs is indicating this is what is afoot right now.”

Does that mean dollar devaluation and a bank “holiday” coming soon? Kirby says, “How quickly this happens is open for conjecture, but that is clearly the direction we are heading. We are unmistakably headed in that direction. The only real question is how long these criminal central bankers can MacGyver the system together and keep it together with elastic bands, paperclips and bungie cords. This is going down. This is going to happen. I think it’s going down in the next two or three weeks. . . .We’ve all speculated that this would eventually happen. Now we are here, and the clock is about to strike midnight.”

What have the President and the VP been told by the Fed Chairman in these emergency meetings this week? Kirby says, “My guess is they are probably explaining to them just how deep the pooh is that they are about to be thrown into. It’s deep, and it’s going to be over their heads. . . . Historically, when banks have nothing else they can do, they take us to war.”

If they don’t take us to war? Kirby says, “Everything is on the table. . . . My thinking is there are an awful lot of U.S. dollars out there right now that are going to be coming home to America. . . . The adjustment in global reserve accounts could create a tsunami of dollars coming back to America in a very, very short period of time. That could trigger something approaching a hyperinflationary event or, at least, stagflation and super inflationary pressure. That’s the minimum occurring very, very soon.”

About the recent revelation of Deutsche Bank suppressing the price of physical gold and silver? Kirby points out, “The price rigging ultimately comes back to and will be shown that it really is an operation of the U.S. Treasury and the U.S. Federal Reserve. . . . The short interests, or the paper sales of precious metals, have been used on purpose to suppress the growing demand for precious metals, or to make it appear that people are still happy with dollars and don’t prefer precious metals to dollars. . . . Whether the U.S. central bank declares that gold or silver are not money in some hubris filled silliness doesn’t diminish the fact that gold and silver are money, and your U.S. Constitution says gold and silver are money.”

Top Chinese banks and gold miners, along with the world's biggest jewellery retailer, will be among 18 members taking part in Beijing's new yuan-denominated gold benchmark, a source familiar with the matter said.

Two foreign banks will also join the benchmark-setting process, when it launches on April 19, marking China's biggest step to become a price-setter for gold.

As the world's top producer, importer and consumer of gold, China has baulked at having to depend on a dollar price in international transactions, and believes its market weight should entitle it to set the price of gold.

A yuan gold fix is not expected to pose an immediate threat to the gold pricing dominance of London and New York, but it could ultimately give Asia more power, particularly if the Chinese currency becomes fully convertible.

Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China , China Construction Bank and Bank of Communications are among the ten Chinese banks that will participate, said the source, who declined to be identified because he was not authorised to speak to the media.

Two foreign banks would also join, the source said, without naming them.

Chow Tai Fook, the world's biggest jewellery retailer, Swiss trading house MKS, Chinese miners China National Gold Group and Shandong Gold Group will also be members, the source said.

MKS confirmed it was taking part, while Chow Tai Fook declined to comment.

The other companies were not immediately available for comment.

The Chinese benchmark price will be derived from a 1 kg-contract to be traded on the state-run Shanghai Gold Exchange (SGE), which will act as the central counterparty.

The price, to be quoted in yuan per gram, will be set twice a day based on a few minutes of trading in each session.

SGE was not immediately available for comment.

The spot benchmark in London is set via a twice-daily auction on an electronic platform with 12 participants after starting off with six.

The London fix, which was previously set via a teleconference among banks, was replaced by electronic auctions after a shake-up in benchmark setting following a scandal over rigging of the Libor interest rate broke in 2012.

Support from foreign banks will be crucial for the international use of the yuan benchmark, but China has struggled to get them to sign up due to sensitivity around benchmarks amid scrutiny by regulators.

Reuters reported in January that China had warned foreign banks it could curb their operations in the domestic market if they refuse to participate in the benchmark-setting process. (Additional reporting by Shanghai Newsroom; Editing by Ed Davies)

APRIL 19TH,
NEW WORLD CURRENCY OPENS FOR BUSINESS...AND IT'S GOLD BACKED, NOT DEBT BACKED!!!

OVER THE PAST SEVERAL DAYS I HAVE BEEN READING A LOT OF THINGS REGARDING APRIL 19TH, 2016, BUT MOST OF IT HAD TO DO WITH THE TEMPLE OF BAAL GATEWAYS THAT WOULD BE DISPLAYED IN BOTH NEW YORK AND LONDON, BUT THE REAL SHOCKING NEWS WAS WHAT I CAME ACROSS JUST RECENTLY.

SEEING HOW I'M ALWAYS KEEPING AN EYE ON THINGS THAT ARE ALWAYS JUST A BIT AHEAD OF THE CURVE, IT CAME AS A SURPRISE TO ME JUST TODAY, HOW ON APRIL 19TH, THE CHINESE YUAN WILL OFFICIALLY OPEN FOR BUSINESS AS A GOLD BACKED CURRENCY AND I'M SURE THE U.S. IS SCRAMBLING AS TO HOW AND WHAT TO DO IN RESPONSE TO THIS GOLD BACKED COMPETITOR COMING ONLINE AND CHALLENGING THE DOMINANCE OF THE ALL MIGHTY DEBT BACKED CURRENCY, THE DOLLAR.

NOW IT MAKES COMPLETE SENSE AS TO WHY OBAMA, BIDEN AND YELLEN, AS WELL AS ALL OF THESE FOREIGN BANKERS HAVE AND ARE HOLDING MEETING AFTER MEETING IN WASHINGTON D.C.
http://www.activistpost.com/2016/04/bank...nk-reports.html

WHAT I HADN'T REALIZED WAS WHAT CHINA WAS ON THE VERGE OF DOING NEXT WEEK. NOW THIS COMPLETELY PUTS INTO PROPER PERSPECTIVE WHY THE CHINESE HAVE BEEN FLEXING THEIR MUSCLE IN THE SOUTH CHINA SEA, BUT ALSO WHY THE U.S. HAS BEEN DOING SO AS WELL.
WHEN THE DOLLAR GOES BY THE WAYSIDE, AND IT WILL, THE GOLD BACKED YUAN WILL BE THERE TO TAKE ITS PLACE. ALL OF THE POSTURING, MILITARY AND FINANCIAL, THROUGHOUT THE WORLD BY BOTH SIDES, IS QUICKLY INCREASING AND ONCE THE SPARK IS LIT, IT WILL BE GAME OVER FOR THE WESTERN ILLUMINATI POWERS.

Image result for bloomberg gold price 64,000? IMAGES

https://politicalvelcraft.org/2016/02/01/shanghai-shock-april-19-2016-yuan-based-gold-standard/

Shanghai Shock April 19, 2016: Yuan Based Gold Standard.

If China were to partially back its yuan with gold it would require a gold price of $64,000 per ounce, 50 times gold bullion’s price today, according to a recent article from respected Bloomberg Intelligence.


China has been quietly accumulating a significant amount of gold bullion in recent years. They are now the top producer and top consumer of gold in the world. They are believed to keep all of their domestic production, plus import significant amounts from other nations. In addition, they have been buying up gold mines around the globe at steep discounts and bringing home gold they had stored in London, New York and Switzerland.
After accumulating all of this gold, along with their close ally Russia, many believe they will eventually break the metal free from the price manipulation undertaken by the banks/governments in the United States and United Kingdom. Once price discovery moves from West to East, they will allow the price to float to free-market levels and the value of all the gold they have been accumulating will skyrocket.
Removing the gold price suppression will be accompanied by wholesale dumping of U.S. treasury bonds and test the world’s faith in the US dollar debt-based fiat currency system.
This will give China, Russia and others a greater influence in world financial markets and better stability in their currencies. It may give them a considerable strategic advantage over the United States, a nation that many believe no longer has the gold that they claim. Indeed, with a lack of a comprehensive audit and unwillingness of officials to allow one, many believe the gold is no longer in Fort Knox.
Now we move to the really interesting part of this story. Not only has China been accumulating huge amounts of gold (on and off record), but they also launched their own international gold trading platform on the SGE. It has become the largest physical gold exchange in the world, with an estimated 52 times more physical gold withdrawals versus the predominantly paper exchange of the COMEX.

Fast forward to the first week of 2016 and China is warning foreign banks that they must participate in Yuan-based gold price fixing or lose their Chinese gold import rights. This first-ever Chinese benchmark is set to launch in April of this year and could be a game-changer for gold prices moving forward.

Reuters reported today that:
China has warned foreign banks it could curb their operations in the world’s biggest bullion market if they refuse to participate in the planned launch of a yuan-denominated benchmark price for the metal, sources said.

The world’s top producer and consumer of gold has been pushing to be a price-setter for bullion as part of a broader drive to boost its influence on global markets.

Derived from a contract to be traded on the state-run Shanghai Gold Exchange, the Chinese benchmark is set to launch in April, potentially denting the relevance of the current global standard, the U.S. dollar-denominated London price.

In a trial run for the fix in April 2015, some foreign banks participated along with many major Chinese banks. Traders at those banks said earlier that while they were interested in the benchmarking process, their legal and compliance teams may be reluctant.

Perhaps a little sensationalized, but Jim Willie recently commented:
The Gold market cannot be fixed by paper gold on a repeated basis, surely not in perpuity. When the Shanghai shock comes, all the Paper Gold structures will fall, all the FOREX derivatives will collapse, all the control rooms will go into panic mode.

The Shanghai shock is not likely to materialize all at once and cause an immediate collapse of the dollar, the COMEX or our fiat monetary system. However, it is another nail in the proverbial coffin and significantly increases the odds of more honest price discovery in precious metals as it moves from West to East.

The red line in the chart below shows Asian gold reserves as a percentage of total gold reserves. The percentage has been rising steadily for decades, but the pace of the increase has picked up significantly since the 2008/09 financial crisis.
china gold

If you believe that the gold price has been suppressed in order to maintain faith in fiat money and allow governments to continue deficit spending to secure their power, it is logical to conclude that gold prices may rise sharply as the disconnect between paper and physical pricing intensifies.

And it would make sense for China, Russia and other BRICS nations to push for such a transition, as it would diminish the dominance of the United States in global trade and finance, leveling the playing field.

In any event, it will be an interesting development to watch during 2016. I believe it could be another catalyst in a long list that could cause a spike in gold and silver prices.

Keeping with the issue of official sales, governments at present only hold at most 60 million ounces of silver, as compared with 1 billion ounces of gold. Among those who run our world, silver is now far rarer than gold.

However the “natural” ratio including in ground is 9:1 silver/gold therefore if gold hits $64k silver is 9xs less at $7k.
http://www.reuters.com/article/china-gold-fix-idUSL3N17G1Z5
http://allnewspipeline.com/April_19th_Weeks_Away_From_Economic_Armageddon.php
http://www.bloomberg.com/news/articles/2...bullion-s-price

Chinese Gold Standard Would Need a Rate 50 Times Bullion’s Price

Nicholas Larkin and Eddie van der Walt
May 20, 2015 — 6:16 AM CDT

A traditional gold standard, in which the precious metal backs the currency, is basically impossible at current prices due to the amount of metal needed and there’s no evidence the sixth-biggest bullion holder will adopt one, Bloomberg Intelligence said in reports published Wednesday. Any attempt probably would involve new technologies and depend on the ratio of what is backed, it said.

Chinese policy makers are trying to establish the yuan as a reserve currency, and backing it with gold would help attract foreign capital inflows, the Bloomberg research unit wrote. Theoretically, to create an exchange rate of one ounce of gold for every $64,000, the country would need about 10,000 metric tons of the metal, they estimated. That’s nine times the nation’s official holdings and about 6 percent of all the bullion ever mined globally.

“It would probably have to be very different than an old gold standard,” Kenneth Hoffman, the Princeton-based head of global metals and mining research at Bloomberg Intelligence, said in an interview in London on Tuesday. “They have all this currency out there, they want it all soaked up by central banks.”

Gold for immediate delivery traded at $1,207.89 an ounce in London on Wednesday.

In another scenario assuming an exchange rate at today’s price, China would need about 525,000 tons, Bloomberg Intelligence estimates. Only about 175,000 tons have ever been mined, according to the London-based World Gold Council.

“It wouldn’t be a traditional system where you walk into a bank and you walk out with an ounce of gold,” Hoffman said. “It would have to be something new and different

1. When you are looking for information for the Arch of Triumph, you find absolutely nothing prior to Oct 4th 2015 when Mainstream Media(MSM) first announced that ISIS supposively destroyed it.
2. When you look at historical data, this arch was never been called the Arch of Triumph, but was called the Monumental Arch.
3. MSM articles are confusing in whether or not this Monumental Arch was destroyed or not or is currently destroyed or not; however somehow they got Million of pictures from it.
4. The link article above says that they have been working on this Arch of Triumph for the past 2 months. ??? Well 5 days ago we were led to think they were working on the Arch of Baal and that was just cancelled, then how could they had been already been working on the Arch of “triumph” two months ago?
5. The Arch is carved in Tuscany Italy in the Carrara workshop where Michael Michelangelo carved his stuff, but the marble(7 blocks) to make the Arch comes from Egypt?
6. Here’s some interesting statement saying to change history???”
“We are very happy to do this and we feel that it will be something that can change the history of what happens,’ he tells me.

If his syntax sounds chronologically confused, it is no more so than the arch project itself, which takes the memory of a destroyed past and recreates it in physical form in the present, with an eye very much on the future.


7. This statement is also confusing : “When the IDA revealed last December that it was intending to use its data and expertise to build not one but two replica Palmyra arches – to be unveiled simultaneously in Trafalgar Square in London and Times Square in New York – it generated headlines across the world.
Since then there has been some backtracking on the original idea. There will be no simultaneous unveiling in New York – they may transport the London arch there later, or build another one – and the Palmyra arch that is being reconstructed is no longer the entrance to the Temple of Bel (which survived an attempt to blow it up in August 2015) but the Arch of Triumph (partially destroyed in October) formerly located at one end of the Great Colonnade".
8. Here’s another interesting statement from the article : “Meanwhile, the archaeology establishment has been watching all this not knowing whether to applaud or shake their heads….”What I approve of is collecting a record of and documenting vast numbers of sites,’ said Tim Schadla-Hall, reader in public archaeology at University College London, referring to the Million Image Database project.

The replica arch is less to his liking or comprehension. ‘It seems to me it’s a bizarre expenditure of money, possibly with worthy but misinformed aims, to promote something which isn’t a real past, in an entirely reproduced form. I don’t get it; I find it very, very odd. I’ve got better uses for the money.’”

In a shocking move likely to crush the US economy overnight, China is refusing to make its new gold-backed Yuan, convertible from or to US Dollars. The new Yuan will be introduced next Tuesday, April 19.

When the International Monetary Fund (IMF) agreed to add the Yuan to the basket of world currencies used for Global Reserves and International Trade, they wanted China to make the Yuan more reliable as a currency. Since then, China has almost un-pegged its Yuan from the Dollar, allowing its value to fluctuate on world markets.

But for years, China has been amassing huge amounts of gold bullion; some have said their appetite for bullion has been "staggering." And with a new gold-backed Yuan to be issued next Tuesday, the entire world will have a choice of a new currency to use for international trade: The old US Dollar which is backed by nothing, or the new Chinese Yuan, which is backed by gold. Which currency would YOU use?

When this new currency is issued, countries that have been forced to use US Dollars for decades, and have had to keep billions of dollars in their foreign currency reserves, will be free to dump those dollars. But they won't be able to dump them to China for the new gold-backed, Yuan!

China has reportedly decided "there can be no conversion of gold-backed Yuan to or from US dollars." What China fears is that many countries around the world will want to trade their reserve US dollars for the new Yuan, leaving China with mountains of worthless US dollars. China already has several trillion in US dollar reserves and does not want or need more.

If news of this decision by China is correct, then countries around the world may just have to decide whether or not they wish to continue trading with the USA at all?

The upheaval this could cause as early as next week, would be staggering.

Wary of a repeat of taxpayer bailouts for “too big to fail” banks, the Federal Reserve and Federal Deposit Insurance Corporation issued a first-time joint statement criticizing five top banks’ strategies for avoiding bankruptcy as “not credible.”

The five banks, JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co., Bank of New York Mellon Corp. and State Street Corp., with a total of about $5.6 trillion in assets, were among eight bank whose plans were evaluated.

“The agencies have jointly determined that each of the 2015 resolutions plans of… [the five banks] was not credible or would not facilitate an orderly resolutions under the US Bankruptcy Code, the statutory standard established in the Dodd-Frank Wall Street Reform and Consumer Protection Act,” said the Federal Reserve and the FDIC in a press release on Wednesday.


Under the Dodd-Frank Act, a bank with total consolidated assets of $50 billion must have a plan, or a “living will,” in the event of bankruptcy. Nearly a decade after the financial crisis, and a slow recovery for the economy, Washington is keen to avoid a repeat of the bank bailouts.

“The FDIC and Federal Reserve are committed to carrying out the stator mandate that systematically important financial institutions demonstrate a clear path to orderly failure under bankruptcy at no cost to taxpayers,” FDIC Chairman Martin Gruenberg said in a statement, according to Reuters. “Today’s action is a significant step toward achieving that goal.”


The agency’s vice chairman, Thomas Hoenig, told Reuters, however, the plans showed that no firm is “capable of being resolved in an orderly fashion through bankruptcy.”

“The goal to end ‘too big to fail’ and protect the American taxpayer by ending bailouts remains just that: only a goal,” he said.


Reuters reported the banks failed in 2008 for reasons “ranging from the way liquidity would be housed and shuffled among domestic and foreign subsidiaries to the manner in which executives would communicate problems as they arose during a crisis.”

Banks have until October 1 to resolve the weaknesses of their plans and if they fail to meet the deadline, they are “subject to more stringent prudential requirements.”

Those requirements could be leverage, stringent capital or liquidity requirements, as well as restrictions on growth, activities or operations of the firm or its subsidiaries. If deficiencies persist for two years, then the banks will have to divest their assets. Today’s announcement is the start of a regulatory chain that could end with breaking up the banks.


Weaknesses were also identified by regulators in resolution plans for Goldman Sachs and Morgan Stanley, but the Fed and FDIC did agree on the deficiencies. The FDIC said the plan submitted by Goldman Sachs was “not credible” and “would not facilitate an orderly resolution” for bankruptcy. The Fed said Morgan Stanley’s plan was “not credible.”

"We're going to do everything possible to fix this issue," said Jamie Dimon, CEO of JPMorgan, on a call with analysts Wednesday. "We have tons of liquidity. It's more about reporting legal entities."

Wells Fargo said it has made strides to get up to code, and it will meet the October 1 deadline.

"We were disappointed to learn that our 2015 resolution plan submission was determined to have deficiencies in certain areas," a spokesman for Wells Fargo told CNN Money. "We understand the importance of these findings and we will address them."

Citigroup’s resolution plan received the least criticism from regulators.

Regulators are also continuing to asses the plans of four foreign banking organizations – Barclays PLC, Credit Suisse Group, Deutsche Bank AG and UBS.