Alasdair Macleod: Asian gold strategy clarifying

10a ET Friday, June 6, 2014

Dear Friend of GATA and Gold:

Gold is now plainly part of the Chinese and Russian plan for an Asian economic zone bigger than the Americas and European Union combined, GoldMoney's Alasdair Macleod writes today.

China, Macleod writes, "will continue to trade with Europe and America and to extract minerals from Africa and Australia, but there is no doubt her commercial focus is now on Asia. And when it comes to cross-border trade settlement negotiated at inter-governmental level, we can assume that Western currencies will be excluded where possible. The choice will be for the balance of trade to be settled in a mutually acceptable Asian currency or gold. ...

"It amounts to an Asian gold strategy that excludes the West, and by supressing the gold price through sales and leasing of monetary gold, Western central banks have unwittingly enabled China's carefully thought-out plans. How and when will Western central banks break the news to us all that the bulk of the gold reserves entrusted to them are now in Asian hands and they have been secretly complicit since the 1970s in setting up a whole continent with what probably amounts to the largest wealth transfer in history?"

Macleod's commentary is headlined "Asian Gold Strategy Clarifying" and it's posted at GoldMoney's Internet site here:

http://www.goldmoney.com/research/analysis/asian-gold-strategy-clarifyin...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.