Published on April 9th, 2017 | by San Dee Doxtdator0
Syria could be the trigger for the start of gold backed trade if Trump decides to implement sanctions
Earlier on April 7, President Donald Trump’s Treasury Secretary hinted that the administration was looking at a possible escalation against the Assad regime in Syria, and that they have not ruled out initiating economic sanctions against the Middle Eastern country. However, with China and Russia both in full support of President Bashir Assad in his fight against both ISIS and Islamic radicals posing as ‘Syrian rebels’, this move by Trump could very well be the catalyst that accelerates the planned gold trade system that Russia and China have already announced.
Just hours after unleashing a missile strike on Syria, Steven Mnuchin announced that the US will announce sanctions “in the near future” against the Assad regime.
Joined by Secretary of State Rex Tillerson and Commerce Secretary Wilbur Ross in a briefing at Mar-a-Lago estate, the Treasury Secretary said the U.S. would impose sanctions on Syria “to stop this type of activity,” according to a pool report and multiple media reports. It wasn’t clear what sanctions are under consideration: last time we checked the local Four Seasons had seen better days, as for the war-ravaged economy we very much doubt it relies on trade with the US, or has substantial cash deposits in US banks, although those regions of Syria still under ISIS control are surely regular beneficiaries of having their banks hooked up to SWIFT.
Mnuchin’s announcement was the latest sign that the Trump administration continues to escalate efforts against the Syrian President one week after Rex Tillerson said Assad’s fate would be in the hands of Syria’s people. – Zerohedge
Yet here is the kicker in Washington’s latest attempt to scare a country by disconnecting them from SWIFT. When the U.S. did this to Iran a decade ago, the Middle Eastern oil power simply bypassed the petrodollar and began conducting sales of energy through Turkey for… gold. And thus they were able to survive more than 10 years of harsh sanctions that in the past would have crippled a nation.
Additionally, when the U.S. decided to falsely blame Russia for interfering in their unlawful overthrow of the Ukrainian government three plus years ago, Putin simply forged new trade agreements with China that not only helped them grow much larger than they were before, but to also give them the motivation to build their own SWIFT type payment system which could be used as an alternative for any nation who might in the future receive their own economic sanctions from the warmongering West.
Regarding “gold as money,” China and Russia confirmed this truism in spades this weekend, when they dropped a monetary bombshell by announcing their intention to pursue a trade settlement mechanism focused on gold – as described here. To that end, Russia’s opening of a Beijing trade office last month was a major incremental step in the two superpowers’ ongoing initiative to “de-dollarize,” and lead an Eastern Trade Bloc outside the purview of the U.S., Europe, and other Western puppets like Japan.
The New Development Bank (formerly known as the BRICS Development Bank); and the China International Payment System, or CIPS; have already been launched in an effort to “de-dollarize” the East. And yet, even I was surprised by yesterday’s announcement; as while China and Russia are by far the world’s largest gold buyers; and perhaps, if real accounting were utilized, the world’s largest holders; I didn’t expect them to overtly utilize gold as a bi-lateral trade settlement tool. Then again, on a visit to China last year, Russian Central Bank Deputy Chief Sergey Shvetsov said the two countries want to facilitate gold-settled trade; whilst just last month, another senior official at the Russian Central Bank, Vladimir Shapovalov, said the two nations were drafting a memorandum of understanding to solve technical issues around China’s gold imports from Russia, and that details would be released soon. – Silverseek
And thus we are at a crossroads, and the potential catalyst for Russia and China to activate their planned gold trade system if President Trump decides to act the belligerent bully and institute sanctions on Assad and the Syrian government. Because if this does occur, you can guarantee that President’s Putin and Jinping will welcome Syria’s monetary system into their new respective payment systems, and then launch the knockout blow by demanding that all new trade be conducted not in dollars, but in physical gold backed letters of credit.