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Will the Coming Economic War With China End the American Empire?

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China doesn't, however, want to broadcast its intentions and thereby agitate the citizens of the United States, which is why you won't find widespread media reaction to China's plans.   But if you take a close look at the actions of the Chinese government, the evidence of what is about to happen is overwhelming.

 

China has implemented a very simple plan to ensure global domination.   First, they're taking steps to monopolize the gold supply around the world.   Second, they're looking to build global alliances to help with their plan.   And third, they're working to eliminate the dollar from its commanding position in the international oil trade.

 

First, then, let's take a quick look at how China has been hoarding gold supplies around the globe.  

 

They know that they will soon have the economic power to take over the role as suppliers of the world's reserve currency, but they also know the Chinese currency -- the yuan -- will never beat the US dollar if it's nothing more than another "fiat" currency, i.e. a currency backed with nothing but promises.    So, instead, over the last few years, China has been secretly stockpiling gold with the intent of creating something that's been missing from the global economy for 30 years -- a gold-backed reserve currency, with yuan redeemable (exchangeable) for gold.

 

According to a recent Forbes article, "China is preparing for a world beyond the inconvertible paper dollar, a world in which the renminbi (yuan), buttressed by gold, becomes the dominant reserve currency."

 

Not surprisingly then, high-level US government officials are worried about this possibility.   They know for a fact that China has been purchasing massive amounts of gold for the past few years.   They also know that China is the world's largest gold producer, cranking out more than 350 tons of gold a year -- almost 20% more than the world's second largest producer.   And yet, according to major bullion dealers, China isn't exporting a single ounce of gold.   Instead they've been importing huge amounts of gold.   In fact, in 2012 China imported roughly 500 tons of gold --   that's more than the entire holdings of the European Central Bank.

 

Even more importantly, this year will mark the first time in history that China has, dollars-worth for dollars-worth, imported twice as much gold as it has purchased in US treasuries.   (How has it paid for this gold?   With the very US dollars that it once used to by US Treasury bonds.)   But this still isn't enough gold to satisfy China's growing demand for the stuff.   How so?   Because it's not just the central bank that's hoarding gold anymore.   Personal gold ownership was outlawed for many years in China, but in 2002 China finally allowed its citizens to legally own gold.   In fact, you can now buy gold bars in retail banks all across China ...   and the government has even set up retail stores that sell decorated gold bars like the 2012 Lunar Gold Bars.   Gold sales are now so commonplace that the stuff is sold in stores that are the Chinese version of our 7-11s.

 

Which may be why Song Xin, chief executive of China Gold International, one of the country's biggest gold producers recently revealed that China is importing so much gold that they can't purchase any more on the open market for fear of bidding up the prices.   So they've found another way to add to their reserves:   buying gold mines around the world.   To wit:

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Several years after receiving my M.A. in social science (interdisciplinary studies) I was an instructor at S.F. State University for a year, but then went back to designing automated machinery, and then tech writing, in Silicon Valley. I've (more...)
 

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