Warned Gov. of Bank of Canada David Dodge of 2008 financial crash in 2007.
https://t.co/EmrbaIMCOF
May 19, 2018 • 4 tweets • 4 min read
1) @Gold_AntiTrust is frustrated James Grant doesn't know central banks manipulate #gold.
Ea day in London, 220M oz of unbacked gold debt instruments are traded primarily between bullion banks.
Est'd 500M oz open int. claims in spot contracts.
#silvergata.org/node/182442) In 1985, Larry Summers' paper identified neg. correlation w/ real interest rates "dominant feature of gold price fluctuations".
In 1987, Bank of England created the LBMA (90% of global gold trade ea day) trading unbacked paper #gold.
Impact of the Petro-Yuan (w/ Gold settlement option) contract still to be seen; first Yuan contract settles in September 2018. As @Ole_S_Hansen notes, trading volume of the Petro-Yuan oil contract continues to build.
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by @Ole_S_Hansen view original on Twitter
A developing story. #OOTT#PetroGold
The Yuan/Gold settlement oil contract China has launched will fundamentally impact the Petro Dollar's dominant status. Out comes the mallet. cnbc.com/2018/05/17/tru…#oott#oil