Gold Swaps – Gold is Back – Is R A P Working?

Major Banks in America have been caught red handed for drug money laundering.  On the world stage we are about to see the dismembering of these " Too Big to Fail Banks, " that have been committing fraud upon Americans and around the world.  Gold, being exchanged again is evidence of major changes that are going on in the financial world.  Gold allows banks and countries to operate with Credit Security.

Swaps are financial instruments that allow for the exchange of one asset for another.  Central Banks usually do gold swaps.  So far, in 2010, over 282 tons of gold have been exchanged, compared to nearly nil in 2009. 

Julian W D Phillips 
Subject: "Gold is back as money! "
Fri, July 9, 2010

An excerpt –

³What is significant about this or these transactions is that gold is being used in international settlements after so many decades of being sidelined in the monetary system!   The transaction itself confirms that gold is being
used in international settlements, which is a dynamic confirmation of gold's return to the monetary system²  

This is Major News for the Monetary System.

The BIS 382 tonne Gold Swap – Good or Bad for Gold and Why

Swaps are financial instruments that allow for the exchange of one asset for another, in this case, gold for currency.   They are not gold leasing, futures or options [which the 1999 and 2004 Central Bank Gold Agreement states would not be increased – The 2009 did not contain the statement].   Swaps could be undertaken by the signatories of the CBGA.  as these were not included in any of the three Agreements.

Gold swaps are usually undertaken between central banks: One central bank exchanges foreign exchange deposits (or other reserve assets) for gold with an agreement that the transaction be unwound at an agreed future date, at an agreed price.    

The monetary authority acquiring the foreign exchange will pay interest on the foreign exchange received, the rate of which is currently very low.   Gold swaps are usually undertaken when the cash-taking central bank may want foreign exchange but does not wish to sell outright its gold holdings.  

The Wall Street Journal informs us that the B.I.S. did these swaps with commercial banks.   We know of no commercial bank that has 382 tonnes of gold on their books.   It is likely then that should these commercial banks have been in the deal, they would have been acting for a central bank [or several over time] who wished to remain anonymous.

Read the rest:

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