The British people and the politicians who realize that their future no longer lies in the continental takeover that is the European Union also are beginning to see that their future may not lie in dollar hegemony, or a U.S. controlled monetary system. This is because more and more they are coming to grips that the next arbiter of global monetary policy will probably come from China, and not the dying West.
On April 26, Mark Boleat, the City of London Corporation’s Policy Chairman, reported announced that the internationalization of the Chinese Renminbi was ‘here to stay’, and will be a significant part of Europe’s future for both capital and investment.
The City of London considers renminbi internationalization now more than ever before through a holistic approach, said Mark Boleat, the City of London Corporation’s Policy Chairman, on Tuesday.
Speaking at a seminar hosted in the City, Boleat said renminbi business in both the Britain and across the European region as a whole has become established and is here to stay.
“The European offshore renminbi market is an excellent source of capital and talent. It confirms the significance of Europe as a committed partner of China’s in driving forward the overall internationalization of the currency,” Boleat said. – China Daily
But what was not spoken in Boleat’s statement was the significance that gold will play in the Yuan’s expansion as a global currency, and how a Brexit and pivot Eastward should have extraordinary effects to the price of the metal.
Gold prices could explode if Britons decide to vote for leaving the European Union in the referendum on June 23 — also known as a Brexit.
Gold is seen as a haven for cash. It doesn’t pay a coupon like a bond, and it doesn’t pay a dividend from a stock, but it does mean you own ounces in a physical precious metal that you can hold onto.
And it is for this reason that chief precious metals analyst James Steel and his team at HSBC say that using gold as a hedging measure could be effective against the effects of the financial uncertainty of a Brexit (emphasis ours): – Business Insider
After 40+ years of a pure fiat monetary system, the world is bursting to rush back into a gold based form of money. And this can be seen by how central banks have been buying it by the hundreds of tons in recent years, and in the preparation from China to float both their currency and a new gold price mechanism onto the world stage.
The powers behind the West are desperately trying to force a corporate and technocratic new world order on Europe and North America before the BRICS alliance becomes powerful enough to usurp dollar hegemony in the global financial system. But the desire of people within both the EU and in the US to succumb to the TTIP trade agreement is incredibly small, and could be the final catalyst to sway voters in Britain that leaving the Union and partnering with China is not only prudent, but it may even be a matter of survival.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com,Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.