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Jan Nieuwenhuijs: Europe has been preparing the gold standard's return since the '70s
1:28p ET Thursday, July 16, 2020
Dear Friend of GATA and Gold:
Eight years ago the U.S. economists and fund managers Paul Brodsky and Lee Quaintance hypothesized that central banking's objective with gold was less to suppress its price than to redistribute gold reserves among the nations so that all were adequately hedged against an inevitable devaluation of the U.S. dollar and prepared for restoration of direct gold backing for their currencies:
http://www.gata.org/node/11373
This week Voima Gold researcher Jan Nieuwenhuijs presents extensive evidence that this is exactly what long has been planned by Western European central banks, more recently planned by China, and long feared and opposed by the United States, since its control over the dollar is the country's primary weapon of imperialism.
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The Central Bank Gold Agreement of the Western European central banks, implemented in 1999, was, Nieuwenhuijs writes, not so much a mechanism for controlling gold sales and leasing, as it presented itself, as for redistributing gold among members of the bloc of countries seeking independence from the dollar.
Timing and details of the formal return of gold to the international monetary system are unclear, Nieuwenhuijs acknowledges, but the trend itself is perfectly clear.
His analysis is headlined "Europe Has Been Preparing a Global Gold Standard Since the 1970s" and it's posted at Voima Gold here:
https://www.voimagold.com/insight/europe-has-been-preparing-a-global-gol...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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