The Implications Of China Paying In Gold

It seems China, like India before her will be moving away from the Western SWIFT system, adding another critical domino to the collapse of US dollar hegemony.  I alluded to both China and Russia moving towards buying Iranian oil with Gold in my article 2012: The Fall of US Dollar Hegemony…here we are in April and China seems all in.  How long will it take Americans to realize the counter party risk associated with their money?

Dear CIGAs,

The implications of China paying for Iranian oil in gold is the most important event in the modern history of gold

1. It is reasonable to assume that China has been threatened with total or at least selective exclusion from the SWIFT system if it pays in any currency for Iranian oil.

2. Gold has been decided by China as the means of making payment for massive international purchases free of the SWIFT system.

3. Other Asian and Middle Eastern nations will now see the gold they hold as money free of Western economic interference.

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