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Koos Jansen: Theory on China's gold strategy
8a ET Monday, August 24, 2015
Dear Friend of GATA and Gold:
Gold researcher and GATA consultant Koos Jansen writes today that the policies of the People's Bank of China imply more moves toward gold for itself and for the country's population as the bank uses gold as a mechanism for adjusting the value of the nation's currency -- just as the enabling act for the European Central Bank authorizes that bank to trade currencies and gold to adjust the value of the euro.
Jansen reports that when China devalued its currency, the yuan, by 3 percent the other day, the gold price in yuan rose 5 percent.
Of course the U.S. government, through the Gold Reserve Act of 1934, as amended, long has authorized itself to trade secretly in any market not just to adjust the value of the dollar but to rig any market whatsoever, even as the U.S. government preaches free markets to the rest of the world.
Jansen's analysis is headlined "Theory on China's Gold Strategy" and it's posted at Bullion Star here:
https://www.bullionstar.com/blogs/koos-jansen/theory-on-chinas-gold-stra...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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