ZH: Is China Preparing A Gold-Backed Yuan: Beijing Greenlights Purchases Of Billions In Bullion
In 2017, we warned that China was working on a what could be called a gold-petro-yuan (watch US Dollar being challenged by Gold-Petro-Yuan).
Notice the following:
Is China Preparing A Gold-Backed Yuan: Beijing Greenlights Purchases Of Billions In Bullion
April 16, 2021
In 2018, the Chinese launched a gold-backed, yuan-denominated oil futures contract. These contracts were priced in yuan, but convertible to gold, raising the prospect that “the rise of the petroyuan could be the death blow for the dollar.”
Two weeks ago, The IMF reported that the global share of US-dollar-denominated exchange reserves dropped to 59.0% in the fourth quarter, according to the IMF’s COFER data released today. This matched the 25-year low of 1995.
And just last week, China became the first major economy to unleash a Central Bank Digital Currency, “cementing its trailblazer status in virtual currencies far ahead of other countries, after already recently experimenting with large-scale trials of actual payments by consumers, which was met with mixed results.”
Also last week, Peter Thiel warned “Bitcoin should also be thought [of] in part as a Chinese financial weapon against the US… It threatens fiat money, but it especially threatens the U.S. dollar.” https://www.zerohedge.com/markets/china-readying-gold-backed-yuan
So, the ‘petro-yuan’ has been introduced, the introduction looks like a financial success, it is intended to increase the acceptance of the Chinese yuan, and thus also decrease the need to use US dollars in international trade.
April 16, 2021
(Reuters) – China has given domestic and international banks permission to import large amounts of gold into the country, five sources familiar with the matter said, potentially helping to support global gold prices after months of declines. …
The People’s Bank of China (PBOC), the country’s central bank, controls how much gold enters China through a system of quotas given to commercial banks. It usually allows metal in but sometimes restricts flows.
“We had no quotas for a while. Now we are getting them … the most since 2019,” said a source at one of the banks moving gold into China.
The PBOC did not respond to a request for comment.
The size of the shipments signals China’s dramatic return to the global bullion market. https://uk.sports.yahoo.com/news/exclusive-china-opens-borders-multi-095540747.html?guccounter=2&guce_referrer=aHR0cHM6Ly93d3cuemVyb2hlZGdlLmNvbS8&guce_referrer_sig=AQAAAMNV7JLdN2RSTLIvpZ35rxqLkMH5m8dcBbr5T40JNtu3dVKBQEN2bQ5snla1yxPDm2Mv5p8o1Dkcl_pfMAJ9_7LCWwRSsnsU9Dtyu5uknn0bTbnNBkOFDZFZE3IkiglpuyVD8Rae0_16ba7nupNkGWYSOPu8bvyhPqfCkRLOynOz
ZeroHedge stated, “Is this just the next stage in China seeing the writing on the wall for the USDollar as global reserve currency… As Alasdair Macleod wrote last year, China can escape the fate of a dollar collapse by tying the yuan to gold.
With all its gold, by monetising it China could kill off the dollar tomorrow. Undoubtedly, this financially nuclear option has become a backdrop to her strategy in the ongoing trade and financial war against America. But the idea that by using this undoubted power over the dollar China gains a simple victory if through her actions the dollar is destroyed understates a more complex situation. It is not in China’s interest on many levels, not least because of her ownership of dollars is about $3.4 trillion, of which only $1.5 trillion is invested in Treasuries, agency, corporate and short-term debt in the US. …
It is only after … a cataclysm that China will have no alternative to abandoning all attempts to support the dollar and its means of buying overseas influence. China will then need to secure its own currency.
It will require a return to gold backing https://www.zerohedge.com/markets/china-readying-gold-backed-yuan
China is not the only one taking steps.
Why?
Many reasons, but a coming collapse of the USA dollar is one of them. Consider the following:
Through the first six months of fiscal 2021, the US government ran a record $1.7 trillion budget deficit. Federal Reserve Chairman Jerome Powell said this is sustainable – for now.
During a webinar sponsored by the Economic Club of Washington DC, Powell said the economy can handle the current debt load. But he did warn that the long-term trajectory of the US budget is unsustainable.
Jerome Powell (Wikipedia)The US federal budget is on an unsustainable path, meaning simply that the debt is growing meaningfully faster than the economy. And that’s by definition unsustainable over time. It’s a differnt thing to say the current level of the debt is unsustainable. It’s not. The current level of debt is very sustainable. And there’s no question of our ability to service and issue that debt for the foreseeable future.”
Powell said the US government will eventually have to “get back to a sustainable path.” https://schiffgold.com/commentaries/jerome-powell-admits-federal-budget-unsustainable-but-assumes-we-can-fix-it-later/
It would take real repentance (or some unexpected breakthrough) for the USA to “get back to a sustainable path.”
Do not count on it.
Others realize that the USA dollar has problems.
Furthermore, it is not only China that wants to bypass the US dollar.
Russia, Iran, North Korea, Venezuela, and even the European Union are looking to do so.
Will gold be a part of this?
According to biblical prophecies, absolutely yes.
And the Europeans, for example, do have gold. Actually, in total, more than any one else. The continental European gold reserves listed amount to about 11,353.4 tons. And this does not count Russia or the European nations that are not in the top 20. This is about the same amount as the USA, Russia, and China combined.
But the Europeans will get more.
Consider the following scriptures:
40 “At the time of the end… the king of the north … 43 He shall have power over the treasures of gold and silver (Daniel 11:40,43)
The King of the North is the coming European Beast power.
Notice some other scriptures related to gold during his reign:
14… And the wealth of all the surrounding nations
Shall be gathered together:
Gold, silver, and apparel in great abundance. (Zechariah 14:14)12 … merchandise of gold and silver, precious stones and pearls … 16 … ‘Alas, alas, that great city that was clothed in fine linen, purple, and scarlet, and adorned with gold and precious stones and pearls! (Revelation 18:12, 16)
There are no similar statements backing up the future value of paper items, like the US dollar or the British pound (scripture, indirectly, teaches their elimination, for details see Anglo – America in Prophecy & the Lost Tribes of Israel). Daniel 11:24 shows that the leader mentioned in Daniel 11:40-43 will somehow also be accumulating wealth prior to this time, and that may involve gold accumulation (cf. Daniel 11:38). Perhaps to back up a European supported currency, he also may end up with personal and/or national gold reserves and/or wealth from the Vatican. The Vatican has a vast amount of wealth and is prophesied to be improperly involved with the kings of the earth in the end times per Revelation 17.
The Bible teaches that in the end time, the highly indebted nation will be taken over (Habakkuk 2:2-8)–no nation is more indebted than the USA–and on a per capita basis, the UK is one of the most indebted. They will be taken over and conquered during the Great Tribulation (Matthew 24:21; Daniel 11:39; watch also Do these 7 prophesies point to the end of the USA?).
It is NOT that we are to place our confidence in gold–and the Bible has passages warning against that.
But we are getting closer to the start of the Great Tribulation (see also When Will the Great Tribulation Begin?) and final time of the Gentiles that Jesus spoke of (Matthew 24:21; Luke 21:24).
Gentile nations are taking steps that the Anglo-American nations will one day regret.
Yet, most of the news media seems to pay little attention to what is really happening.
Hopefully, you have eyes to see and ears to hear–because most do not (cf. Ezekiel 12:2).
Update 04/18/21: The Continuing Church of God (CCOG) just put up the following video on our Bible News Prophecy YouTube channel:
China introduced something that was called the gold-petro-yuan back in 2018. Since then, the global share of US-dollar-dominated exchange reserves have dropped to 59.0%. In April 2021, China became the first major economy to unleash a Central Bank Digital Currency. China also has given its banks permission to import large amounts of gold. Is China preparing for a gold-backed yuan to push aside the US dollar or to help it survive a US dollar cataclysm? Are other nations preparing to push the US dollar aside? Do Europeans seem to have the most gold? Are Europeans prophesied to gain more gold? Is the US debt trajectory sustainable per Fed Chairman Jerome Powell? Does the Bible warn of the end coming to the highly indebted in Habakkuk 2:6-8? Why does it looked like a gold-backed currency will replace the US dollar? Will the US dollar, ultimately, become essentially worthless? Dr Thiel addresses these issues and more.
Here is a link to our video: Gold Backed Currency to Replace the US Dollar?
Some items of possibly related interest may include:
US Dollar being challenged by Gold-Petro-Yuan The US dollar has been the world’s primary reserve currency for decades. Is this about to change? What is going on with the Chinese yuan and oil and gold? What do the BRICS nations want? What did Venezuela do? Do the Europeans want to dislodge the US dollar as the world’s primary reserve currency? Does US debt play any role? Does the Bible tell us what will happen to the USA and its dollar? What happens if the USA loses its status? Will gold outlast the US dollar? Dr. Thiel addresses those issues and more in this video.
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold? Two videos of related interest are Beast Prophecies and European Gold and Germany, Gold, and the US Dollar.
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
USA in Prophecy: The Strongest Fortresses Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. A related sermon is titled: Do these 7 prophesies point to the end of the USA?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be: Are Chinese threats against Australia for real?
Will the Anglo-Saxon-Celtic Nations be Divided and Have People Taken as Slaves? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future. A sermon of related interest is also available: Canada in Prophecy.
Australia and New Zealand in Prophecy Do biblical prophecies help explain the wealth blessings for Australia and New Zealand? Might cursings from disobedience come in the 21st century? Here is a link to a related sermon: Australia and New Zealand: Origins and Prophecy.
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Must the Ten Kings of Revelation 17:12 Rule over Ten Currently Existing Nations? Some claim that these passages refer to a gathering of 10 currently existing nations together, while one group teaches that this is referring to 11 nations getting together. Is that what Revelation 17:12-13 refers to? The ramifications of misunderstanding this are enormous. A related sermon is titled Ten Kings of Revelation and the Great Tribulation.
WTO/TTIP and the Babylonian Beast Will international trade agreements like WTO/TTIP/CETA lead to the fulfillment of end time prophecies concerning the Babylonian Beast power that the Book of Revelation warns against? What does the Bible teach? A related video would be WTO Trade Deal and the Rise of the European Beast Power.
Spiritual Samaritans: Old and New Who were the Samaritans? Do the represent true Christianity or something else? Here is a link to a related sermon: USA in Prophecy: Samaria.
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel. Here is a link to a version of this article in Spanish: ¿Prueban los caracteres chinos la exactitud de la Biblia?
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon? A YouTube video of interest may be Is China THE Threat to the United States of America?
The Eurasian Union, the Kings of the East, and Bible Prophecy Is there a Eurasian union that will be formed? Is one being formed right now? Are any leaders working on that in the 21st century? Does the Bible teach that there will be a Eurasian union? If some type of Eurasian union is formed, who might it benefit and who will it destroy? A related video would be Is The Eurasian Union Rising?
Russia and Ukraine: Their Origins and Prophesied Future Russia in prophecy. Where do the Russians come from? What about those in the Ukraine? What is prophesied for Russia and its allies? What will they do to the Europeans that supported the Beast in the end? There is also a video sermon available: Russia in the Bible and in Prophecy and a video sermonette available: Ukraine in Prophecy?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2028 or or 2031 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
Might the U.S.A. Be Gone by 2028? Are there prophetic reasons to believe that the USA will not last two complete presidential terms? Yes. There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
The Great Tribulation: What Happens First? What events have happened? What are some events that are now happening? And what events need to happen for the Great Tribulation to start? Here is a link to a related sermon video: Counting Down to the Great Tribulation. Here is a video in the Spanish language: Contando los eventos y el inicio de la Gran Tribulación.
When Will the Great Tribulation Begin? 2021, 2022, or 2023? Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: ¿Puede la Gran Tribulación comenzar en el 2020 o 2021? ¿Es el Tiempo de los Gentiles? A related video is: 2021: The Great Tribulation or the Great Reset? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
 |
Tweet |
|