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Saturday, September 10, 2011

Gold Price Suppression by U.S. Government Exposed in State Department Internal Cable Released Unredacted by Wikileaks


1882  $10,000 US Gold Certificate  
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WikiLeaks drops Bombshell on Gold Market; GATA right again!

September 10, 2011
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by
 
With an avalanche of ever-tantalizing news stories and upcoming nail-biting scheduled officialdom events in both Europe and the U.S. all hitting the gold market at once in September, discerning the story that could propel some distance from Jim Sinclair’s exosphere target of $1,764 in the gold price weighs heavily in favor of the WikiLeaks story and its potential explosive impact on the price of gold from today $1,900 print to Sinclair’s ultimate target of $12,000+.
Though the European financial crisis soap opera moves from Greece and Portugal to, now, Italy and Germany, shifting temporarily away from France, with Belgium’s dirty laundry on deck in case there’s a lull in the action, the WikiLeaks release of a U.S. State Department internal cables on the subject of Beijing’s plan for undermining the U.S. dollar through the gold market even trumps the Israel/Turkey potential gray-swan military conflict brewing in the Mediterranean (could ex-CIA operative Robert Baer be right about an Israeli attack in the region by the fall?).
The leaked State Department U.S. embassy cable – 09BEIJING1134, published by WikiLeaks exposes both the clandestine operations at the Fed/Treasury as well as reveals who’s been sleeping with the enemy.
According to China’s National Foreign Exchanges Administration, China’s gold reserves have recently increased. Currently, the majority of its gold reserves have been located in the United States and European countries. The U.S. and Europe have always suppressed the rising price of gold. They intend to weaken gold’s function as an international reserve currency. They don’t want to see other countries turning to gold reserves instead of the U.S. dollar or euro. Therefore, suppressing the price of gold is very beneficial for the U.S. in maintaining the U.S. dollar’s role as the international reserve currency. China’s increased gold reserves will thus act as a model and lead other countries toward reserving more gold. Large gold reserves are also beneficial in promoting the internationalization of the renminbi.
And now we all know that Beijing knows of the gold suppression scheme, and that Washington knows that Beijing knows of the scheme. So what does that mean for the gold price?
Zerohedge wrote:
Wondering why gold at $1,850 is cheap, or why gold at double that price will also be cheap, or, frankly, at any price? Because, as the following leaked cable explains, gold is, to China at least, nothing but the opportunity cost of destroying the dollar’s reserve status. Putting that into dollar terms is, therefore, impractical at best and illogical at worst. We have a suspicion that the following cable from the U.S. embassy in China is about to go not viral but very much global, and prompt all those mutual fund managers who are on the golden sidelines to dip a toe in the 24-karat pool.
So, out of the raft of news coming out from across the globe, the WikiLeaks story trumps them all. And, of course, you won’t see this breaking story run on CNBC.

Click Here to Read More.

THE DOCUMENT: LINK: 09BEIJING1134

US embassy cable - 09BEIJING1134

MEDIA REACTION: U.S.-CHINA-JAPAN RELATIONS, U.S. POLICY, CHINA'S GOLD RESERVES

Identifier: 09BEIJING1134
Origin: Embassy Beijing
Created: 2009-04-28 08:23:00
Classification: UNCLASSIFIED
Tags: OPRC KMDR CH PREL ECON
Redacted: This cable was not redacted by Wikileaks.
VZCZCXYZ0000
RR RUEHWEB

DE RUEHBJ #1134 1180823
ZNR UUUUU ZZH
R 280823Z APR 09
FM AMEMBASSY BEIJING
TO RUEHC/SECSTATE WASHDC 3690
INFO RUEHOO/CHINA POSTS COLLECTIVE
RHMFIUU/CDR USPACOM HONOLULU HI
UNCLAS BEIJING 001134 
 
DEPARTMENT FOR INR/R/MR, EAP/CM, EAP/PA, EAP/PD, C 
HQ PACOM FOR PUBLIC DIPLOMACY ADVISOR (J007) 
SIPDIS 
 
E.O. 12958:  N/A 
TAGS: OPRC, KMDR, CH, PREL, ECON 
 
SUBJECT: MEDIA REACTION: U.S.-CHINA-JAPAN RELATIONS, U.S. POLICY, 
CHINA'S GOLD RESERVES 
 
-------------------- 
  Editorial Quotes 
-------------------- 
 
1. U.S.-CHINA-JAPAN RELATIONS 
 
"China and Japan should alleviate the U.S. influence in their 
countries' future development" 
 
The official Communist Party international news publication Global 
Times (Huanqiu Shibao)(04/28): "The Japanese Prime Minister will 
visit China soon. This brings attention to the development of the 
bilateral relationship between the two countries. The two countries 
have both developed independently. China is gradually moving past 
the 'American conceptual restrictions' that exist in the country, 
especially after the results of the financial crisis.  China's 
de-Americanization is gaining speed.  Japan's de- Japan's 
de-Americanization is speeding up as well.  Japan is likely to 
discard the U.S. completely and take steps closer to its East Asian 
neighbor countries. The U.S. should not encourage Japan to develop 
its military strength. U.S. interference will be an important factor 
to overcome if China-Japan relations intend to develop maturely. 
China should change their old thinking that U.S.-China relations are 
more important than China-Japan relations. In fact, the significance 
of the China-Japan relationship has also globalized, and is not 
limited to Asia. China and Japan should seek more breakthroughs in 
global cooperation. The two countries should contribute more in the 
development of the world." 
 
2. U.S. POLICY 
 
"Obamaism is not yet fully formed" 
 
The China Radio International sponsored newspaper World News Journal 
(Shijie Xinwenbao)(04/28): "Obama has just become president. During 
his first 100 days in office, the concepts of Obamaism have 
frequently appeared. Obamaism is characterized by the fact that the 
Obama administration is aware that the U.S. cannot solve so many 
international issues by itself.  It is very different from Bush's 
cowboy diplomacy.  However, Obamaism hasn't fully formed and it is 
facing challenges. People doubt that Obama will make any 
breakthroughs in the core strategic interests and values of the U.S. 
It is doubtful that he will give up the country's long-term pursuit 
of hegemony. Obama once stated that he would reshape the global 
leadership of the U.S. This shows that the U.S. does not intend to 
be an equal partner in international communications. The U.S. also 
struggles with the variant nature of its policies. One can gain 
insight from the U.S. Cuba policy. However, people can still be 
hopeful." 
 
3. CHINA'S GOLD RESERVES 
 
"China increases its gold reserves in order to kill two birds with 
one stone" 
 
The China Radio International sponsored newspaper World News Journal 
(Shijie Xinwenbao)(04/28): "According to China's National Foreign 
Exchanges Administration China 's gold reserves have recently 
increased. Currently, the majority of its gold reserves have been 
located in the U.S. and European countries. The U.S. and Europe have 
always suppressed the rising price of gold. They intend to weaken 
gold's function as an international reserve currency. They don't 
want to see other countries turning to gold reserves instead of the 
U.S. dollar or Euro. Therefore, suppressing the price of gold is 
very beneficial for the U.S. in maintaining the U.S. dollar's role 
as the international reserve currency. China's increased gold 
reserves will thus act as a model and lead other countries towards 
reserving more gold. Large gold reserves are also beneficial in 
promoting the internationalization of the RMB." 
 
 
PICCUTA
 
 





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