Grant Williams pieced together some of the same things I did in
my Russia piece which
you ran last April, about why the Russians are buying gold (when economists are
advising them to sell it) and why Russia’s balance sheet is in great shape
compared to those of Western nations. The ruble’s recovery still
confounds the mainstream! But Grant takes the analysis a step further to
show that oil may be trading in gold terms again, tying its price action to the
proposed Shanghai crude oil futures contract (which has been delayed) and the
Shanghai gold market. When that oil futures contract goes live, basically
the countries that have been cut out of the USD-based financial system by
sanctions will be able to sell oil for gold in Shanghai. This will be a
very big deal, and few mainstream economists will understand why! No one
knows the timing, of course, but it’s certainly worth watching because it’s an
important piece of the geopolitical and financial puzzle.
In December, Grant Williams, author of “Things That Make You Go
Hmm…” offered the most comprehensive analysis yet of the rise and
inevitable fall of the petrodollar (and implicitly US hegemony). In the
following presentation, from Mines & Money Conference in London in December
2016, Williams focuses on gold’s performance in
2016, the reaction to Donald Trump’s election and joins a series of dots that
may lead to the end of the petrodollar system and a new place for gold in the
global monetary system.
Grab a glass fo wine – turn off Trump’s twitter feed for 30
minutes and enjoy. Here is the full presentation – “Get It. Got It. Good”
Read more –
much more – at:
