Any Currency Shocker??

@prasadvissa Up. Someone with very big pockets is constantly hammering it down. You see trades like 500 tonnes of gold being dumped on the open market on the open of the Asian trading session when there is no trading volume. The obvious purpose is to keep the price down. Who has 500 tonnes of gold ?

Considering that US couldn't give Germany it's gold back it doesn't take much to figure out who is doing this and why they're doing it. US went as far as to telll India to stop importing gold, since it pushes the physical price up and they (the US) can't get it cheap enough. Rumour is that globally the western central banks have no gold, with the exception of course of the BRICS countries who have been buying physical agressively.

If the US ever gets forced onto a gold standard, depending on who you listen to, the price of gold will end up between $12 000 to $53 000 a ounce. When the BRICS launch their system in Sept this year it is rumoured they will have a gold backed currency. That might force the US's hand if they stand any chance at all of competing. Most of Europe (and the rest of the world) have signed on for the AIIB and CIPS system which is in fact a new global financial system, which the US has no control over.

We're on the verge of a major event. There are only 3 possible outcomes for the current western financial system. WW III, hyper inflationary depression or decades of deflation. WW III doesn't matter from a gold point of view. We'd be to dead to care. The other two will be gold heaven.

At some point gold is going to break out and then whoever needs gold down is going to have to cover. Alll we're waiting for now is the trigger event. The longer we wait the bigger the jump. It's been a few years already. When it comes it will be big. Very big.

My point is that these events are not surpises. You can see them coming a mile away. The exact timing you can't predict, but it's very simple, don't trade against a peg. They always break.