This is Dale Winton. He is familiar to British readers as the man who presents the Lottery results on Saturday evenings. In effect, Dale Winton can make you rich.
Who better to front the advertising campaign for “Cash my gold” which we see ad nauseam during most peak time advertisement breaks on TV.
The deal is this; call in for a special bag, when you receive it, fill it full of all your gold, including broken jewellery, bent up coins, teeth….anything.
Then send the bag off to the address shown and you will receive lots of lovely money.
Similar ads are also being run in the USA and presumably other western countries, so they will get lots of their lovely cash too.
So what do “Cash for Gold” do with it when they get it?
They melt it down for bullion. OK so what do they do with the bullion then?
They send it all off to China
……because the Chinese are buying all the gold in the world! The Chinese Government is concerned that they have millions and trillions and gillians and squillians of this stuff….
…..which everyone knows is worth nothing, but it is what they had to accept for their cheap knock-off goods over the last few years.
Why did they take them then?
You can only buy Oil and gold with Dollars.
Who says so?
....er….the Americans! Because the Dollar is the world’s reserve currency
Who says it is?
….er ….the Americans again.
This is Zhou Xiaochuan. He’s president of The Peoples Bank of China. He argues that the Dollar is unsuitable as a global reserve currency because of the “Triffin dilemma”, which is the difficulty faced by the US government in trying to simultaneously achieve their domestic monetary policy goals and meet other countries' demand for reserve currency.
So what are the Chinese doing about it?
Chinese citizens are being encouraged by their government to buy gold and then the government will mint it into coinage free of charge. Why?
In the near future China will have the only gold backed currency in the world....you know, like the Dollar was supposed to be.
No comments:
Post a Comment