Koos Jansen
BullionStar Blogs
Koos Jansen
Posted on 27 Mar 2015 by

When Will China Disclose Its True Official Gold Reserves And How Much Is It?

Things are heating up in the Chinese gold market

First let’s go through the latest Shanghai Gold Exchange data and then we’ll continue to discuss the most recent developments regarding Chinese official gold reserves.

Friday the Shanghai Gold Exchange (SGE) released its trade report of week 11, 2015 (March 16 – 20). Withdrawals from the vaults, which equal Chinese wholesale demand, accounted for 53 tonnes, up 3.91 % from the prior week.

Screen Shot 2015-03-27 at 10.33.53 AM
Blue (本周交割量) is weekly gold withdrawn from the vaults in Kg, green (累计交割量) is the total YTD.

Year to date total withdrawals have reached a staggering 561 tonnes, up 7.3 % from 2014, up 33 % from 2013. When using the basic equation for the Chinese gold market to estimate import, we learn that up until March 20 China has net imported 412 tonnes. Add to this India has net imported about 230 tonnes over the same period, that’s 642 tonnes combined. I wonder how long the Chinese can keep up this pace of importing before physical supply from Western vaults runs dry.

Shanghai Gold Exchange SGE withdrawals delivery 2015 week 11 dips

Shanghai Gold Exchange SGE withdrawals delivery only 2014 - 2015 week 11

Trading volume on the Shanghai International Gold Exchange (SGEI) has been 32 tonnes in week 11, which could have distort SGE withdrawals by 0.8 tonnes. (Read SGE Withdrawals In Perspective for more information on the relation between SGEI trading volume and SGE withdrawals)

When Will China Disclose Its True Official Gold Reserves And How Much Is It?

As most readers who are interested in gold will know, China’s official gold reserves are small in proportion to the size of their economy and their foreign exchange reserves. This disproportionate position has been difficult for China to escape from. Any slight move from their immense stock of US dollars into gold could disrupt the gold market, and thus the US dollar, spoiling the party for everybody.

China is forced to buy in secret. The latest update on the size of their official gold pile was in April 2009, when they disclosed to have 1,054 tonnes, up 454 tonnes from 600 tonnes, which they claimed to have since 2003. Common sense indicates the PBOC did not buy 454 tonnes in a few months; most likely they bought this amount in secret spread over six years (2003 – 2009). More common sense suggests they continued to buy in secret since 2009 and they hold at least twice the weight they currently claim.

Last week I reported it’s very likely the renminbi will be adopted into the SDR basket this year and before inclusion China will announce their true gold reserves. All arrows point in the same direction, IMF chief Lagarde stated:

China’s yuan [renminbi] at some point would be incorporated in the International Monetary Fund’s Special Drawing Right (SDR) currency basket, IMF Managing Director Christine Lagarde said, …”It’s not a question of if, it’s a question of when,”

The SDR basket is reconsidered every five years, in 2010 there was no adjustment made, as the renminbi was not considered eligible at the time. But the renminbi has made significant developments since then; this year will be appropriate for adoption.

Next to what Lagarde and the IMF have stated, more “official” channels are hinting at changes to come regarding China in the international monetary system. Roland Wang, China managing director at World Gold Council, told Reuters on March 26: 

China currently holds about 1.6 percent of its foreign exchange reserves in gold, which is relatively low compared with developed countries and some developing countries, WGC China managing director Roland Wang said. 

“The ideal amount should be at least 5 percent of its total forex reserves,” Wang told Reuters in an interview in Hong Kong.

The latest IMF data points out China’s total foreign exchange reserves, excluding gold, on December 1, 2014, were valued at 3.859 trillion US dollars. 1,054 tonnes at the price of gold on December 1, 2014 (37,600 US dollar for 1 Kg), was a little over 1 % of total reserves.

If China would announce on Monday they hold 5 % of total reserves in gold, this would translate into roughly 5,000 tonnes.  

Remarkably, the exact same day Reuters published Wang’s statement, Chinese newswire Caixin published a detailed story on gold in China’s monetary history and its potential function in the present and future economy, written by Hedge Fund manager Li Sheng:

Gold accounts for only 1.6 percent of China’s forex reserves. This is only a fraction of the figure in the United States and many other developed countries. If China ever increased the level to 5 percent, it would have an enormous impact on global demand for gold.

Li mentions the exact same numbers as Wang from the World Gold Council: 1.6 % and 5 % of total reserves. Coincidence? 

I think that if China will update us on their gold reserves, the total will be less than 5,000 tonnes. For clarity, I have little hard evidence on the amount of gold the PBOC or its proxies hold in reserve. However, the reason I think it will be less is because of what Song Xin, Party Secretary and President of the China Gold Association, wrote at Sina Finance on July 30, 2014:

Gold Will Support Renminbi As It Moves To Join World

…For China, the strategic mission of gold lies in the support of RMB internationalization, and so let China become a world economic power and make sure that the “China Dream” is realized. 

…Though China is already the world’s second largest economy, there is still a long way to go to become an economic powerhouse. The most critical part to this is that we don’t have enough say in matters such as international finance and matters regarding the monetary system, the most obvious of which is the fact that the RMB hasn’t fully internationalized.

Gold is a monetary asset that transcends national sovereignty, is very powerful to settle obligations when everything else fails, hence it’s exactly the basis of a currency moving up in the international arena. When the British Pound and the USD became international currencies, their gold reserve as a share of total world gold reserves was 50% and 60% respectively; when the Euro was introduced, the combined gold reserves of the member countries was more than 10,000 tonnes, more than the US had. If the RMB wants to achieve international status, it must have popular acceptance and a stable value. To this end, other than having assurance from the issuing nation, it is very important to have enough gold as the foundation, raising the ‘gold content’ of the RMB. Therefore, to China, the meaning and mission of gold is to support the RMB to become an internationally accepted currency and make China an economic powerhouse.

That is why, in order for gold to fulfill its destined mission, we must raise our gold holdings a great deal, and do so with a solid plan. Step one should take us to the 4,000 tonnes mark, more than Germany and become number two in the world, next, we should increase step by step towards 8,500 tonnes, more than the US.

According to Song step one is to reach the 4,000 tonnes mark to surpass Germany and become the second largest holder in the world, which would be in line with being the second largest economy (in terms of GDP). We can also read China’s aspirations in international finance that is currently, among other deveopments, to be established through the inclusion in the SDR basket. Bear in mind, Song is a Party Secretary, he wrote his article with permission, or on behalf of the Communist Party of China (CPC).

Chinese party
Emblem Communist Party of China

Song’s statements makes me think if China will increase its official gold reserves it will be more than Germany’s reserves; something north of 3,384 tonnes. Of course I could be wrong and it will be less – perhaps because they have less, perhaps because the international monetary system “can’t handle” and increase of more than 100%, perhaps because China has more than they see fit to disclose on the grand chessboard.

To finish please read the last bit of the article from Caixin, a must read and it has similarities with Song’s article:

Yuan and Gold: Old Enemies Should Finally Become Friends

…Since the global financial crisis that started in 2008, there has been consensus that an excessive issuance of U.S. dollars, driven by the U.S. Federal Reserve’s need to protect the U.S. economy, was partially to blame for causing havoc. Since the Bretton Woods system collapsed in 1971, the United States has been freed from having to restrict its money supply to the size of the gold reserve its central bank holds.

What does that say about the attitude China should take toward gold?

The boom years for gold between 2008 and 2012 were, of course, driven to a large extent by the United States’ easy monetary policy and an economic recovery in many countries. Yet, China played a part in it as well.

Its push since 2010 to promote the use of the yuan globally and diversify its foreign exchange investment away from U.S. Treasury bonds and U.S. dollar-denominated assets has made investors expect the demand for gold to rise because the Chinese central bank will need a greater reserve to support its currency.

Gold accounts for only 1.6 percent of China’s forex reserves. This is only a fraction of the figure in the United States and many other developed countries. If China ever increased the level to 5 percent, it would have an enormous impact on global demand for gold.

The price of gold started plummeting in early 2013 as the U.S. economy became stronger and the market expected the Federal Reserve to stop its policy of so-called quantitative easing. Meanwhile, China’s demand for gold soared. In the first half of 2014, imports skyrocketed, prompting speculation that the central bank was secretly beefing up its gold reserve.

Buying more gold seems to be a good choice for both the government and individual investors, given the new domestic and international circumstances. The yuan has been relatively stable throughout the most troubled times of the financial crisis, but its peg to the U.S. dollar means it will always fluctuate in sync with the latter, depending on the Fed’s moves.

That is why it is extremely important that we have an “anchor” ourselves.

Gold is a currency that supersedes sovereignty issues, is politically neutral, and is not easily manipulated by monetary policy. Gold may not be able to compete with the currencies of the world’s major powers, but it can certainly be used as an anchor.

In the past year or two, enormous changes have occurred to the structure of China’s economic growth, to the degree of social wealth accumulation, and to the investment and wealth management habits of ordinary people. It is important and urgent that we revisit certain issues, including the relationship between the yuan and gold, under these new circumstances.

The party came to power not only because it won the war but also, and more importantly, because it represented the right thing to do economically and financially. The relative advantages of its monetary system back then have been fully demonstrated, but it will not be long before they turn into obstacles to progress if the authorities reject reform and refuse to evolve along changing times.

The emphasis on material goods over gold and silver in the yuan system may have been superior in wartime and when supplies were insufficient, but it has increasingly become incompatible with today’s needs.

If it was necessary to use all means necessary to secure enough supplies of goods in the old days, today’s priority should be how to fairly distribute them. The emphasis should be on developing a fair market and protecting the ownership of private assets.

In a 1966 essay, former Fed chairman Alan Greenspan wrote that gold is “a protector of property rights.” This is true, but only in times of peace and in an open environment. The old wisdom of hoarding gold in troubled times is applicable only to eras of strife and war. In China in the 1960s, in Nazi-controlled Europe and in the Soviet Union under Stalin, gold could not buy one food, let alone protect property.

So instead of trying to peg the yuan somehow to gold to increase its credibility internationally, the government might as well work to establish rule of law and create a system where private property ownership is respected and the public believes in the strength of the monetary system. Confidence is more important than gold.

But that does not mean the yuan system does not need gold. It can be an anchor that stabilizes the yuan and increases people’s confidence in it. It can also serve as a check to the power of any one major currency.

Increasing private savings and investments of gold, or – as the Chinese government likes to call it – “storing gold with the people,” is not only about the diversification of investment channels. It is also an inevitable path that the yuan must take from being a currency supported by reserves of material goods to one based more on credit.

The government should be pleased to see this trend gaining momentum. Increasing its gold reserves at the same time can also strengthen the public’s confidence in the yuan and promote its use globally.

Koos Jansen
E-mail Koos Jansen on:

  • Roberto Helering

    I have a better question: is the gold disclosed by the country that wants to join the SDR audited at all? If not, they can say a number it will allow them to be part of SDR without increasing the gold price that mush and keep buying it. If audit is required, I would like to see when was this done to US gold…. a true mystery…

    • Sven

      Good point. Who will push hard for an audit? The US? China could turn right around and demand all members be subjected to an audit. Perhaps the IMF demands it.

      • http://churchofsmoke.org/ Jose

        And the US would tell the IMF to F off. How well do you think China would fare in an audit? There is no way that they are going to push for an audit.

        You live in some kind of dreamland fantasy.

        • DameEdnasPossum

          It’s a discussion board…with intelligent ideas put forward.

          The possibility of an audit is entirely legitimate.

          Insulting people and dismissing valid points only illustrates your agenda and/ or your hindered ability.

          • http://churchofsmoke.org/ Jose

            You started the insults with your bong and hallucination comment.

            China has a 125% debt to GDP and is in no position to throw the first stone.

          • DameEdnasPossum

            Oh right…now you’re sensitive to your open advocacy of marihuana as money being pointed out?

            The guy who’s profile states ‘Will not retire until marijuana is legal’ and advertises ‘http://churchofsmoke.org’ is now precious if someone suggests he might be a stoner!!!

            Did you understand anything in Koos’ article or is it all just a complex and confusing purple haze to you?

            Why exactly are you on a bullion website and comment board if you have such clear disdain for gold?

          • http://churchofsmoke.org/ Jose

            I never said marijuana is money and I don’t have a disdain for gold. You are batting zero indicating an extreme level of personal ignorance.

            I said marijuana is closer to money than gold because it is much easier to use to buy gasoline.

            I also said gold is good to hedge against the inevitable currency reset, as is many other commodities.

            You seem to have a mental vacancy with little hope of recovery.

          • DameEdnasPossum

            Do the paranoia, schizophrenia and psychosis stem from substance abuse?

          • KoosJansen

            I’v warned you many times Dame, insulting people who have a different opinion is not debate. I’m gonna have to block you from now on. This comment section is meant for civilized debate.

  • stockman12

    I’ve read they will have to “open their gold vaults to public inspection and audit before they can be accepted.”

    • Guy Christopher

      The Chinese might open their vaults to public inspection when the gates to Fort Knox are swung wide open, but not before.

  • James Hammett

    How do we know that they haven’t got more than 5% of their reserves in gold already? And if they have what would that do to the gold price?

  • Matt

    How do you fit in the PBoC acquiring large reserves with the idea that it doesn’t access the SGE? Given SGE withdrawals roughly equal gold imports plus mine production plus scrap, where do you think it comes from?

    • KoosJansen

      That, Matt, is the big question. I think the PBOC buys everything of-SGE, the primary reason why I doubt this is true is because of the unprecedented amounts of gold moving from West To East.

      Before April 2013 there was no reason to believe the PBOc bought through the SGE. However, as time goes by I’m more and more scratching my head.


      Second, none of the 2,200 tonnes of gold was bought by the Chinese central bank. The President said: “The PBOC does not buy gold through the SGE.”

      • http://churchofsmoke.org/ Jose

        Gold is moving from West to East because the West doesn’t see it as a strategic asset. In order to go back to a gold standard, most major countries will have to sign on to it and that’s not going to happen.

        What I see is the US debt going to $200 trillion or so and then a financial reset with something like a nuevo dollar or even an amero dollar.

        • Green Onions

          As Prof. Lawrence Kotikoff of Boston University has shown, US debt obligations surpassed $200 trillion in 2013.

          • http://churchofsmoke.org/ Jose

            Unfunded liabilities are about ten times the official debt.

        • Cluez Jones

          I think you’re right about the new dollar, but will anyone have confidence in it after we have to exchange our greenbacks for it (on a 10-1 basis). I think that Americans will experience a sudden re-awakening as to the value of PM’s when that day happens.

          • http://churchofsmoke.org/ Jose

            I was in Mexico after the monetary reset in Mexico with the nuevo peso. I didn’t see any rioting or awakening.

          • mike


            Nuevo peso……lol

            You didn’t see any rioting over that feeble poverty currency? No kidding.

            Go back to your rat country.

      • Matt

        Do you see any reason (in what you know of the SGE) why a commercial bank couldn’t have bought gold on the PBOCs behalf?

        • KoosJansen

          No. Commercial banks can do that, but why pay the SGE premium if SAFE/PBOC can buy “London spot” in London or elsewhere?


          SAFE has … branches in Hong Kong, Singapore, London and New York.

          HK is where a few hundred tonnes is hidden right? Can this be PBOC gold?

          On the other hand, the BOC is the PBOC’s main commercial bank to conduct business. Wasn’t BOC that held 600 tonnes on it’s balance sheet.

  • DameEdnasPossum

    This article and it’s links tell a fascinating story. Thank you Koos.

    It is disappointing, yet not surprising, that this level of analysis and depth of thought is not offered by the Main Stream Media presstitutes.

    Further to Koos’ mentioning “…before physical supply from western vaults runs dry…” it must also be considered the impacts of this upon the price of gold is likely to be greatly accentuated as empty western vaults means the death of ‘paper gold’ (oxymoron) and the removal of ETF derivatives being able to monkey-hammer the price of physical with gay abandon. This likely also signals the death knoll for the USD and significant harm to other major currencies.

    The question is not whether ‘they’ (i.e. TPTB = the powers that be) will allow this to happen, but rather: Can TPTB prevent this from happening?

    Putting the fabricated figures and political rhetoric to one side, it is readily apparent from economic fundamental indicators and trends that the world economy is perilously positioned. Many major players are stagnating, creating further soverign debt burdens and while their economic engine deteriorates from worsening demographics. The ‘market’ has effectively ceased to function and is simply a cash-fuelled, HFT driven, ‘buy- the-dip’ Ponzi scheme bubble. And the economic uncertainty is all worsened by the current escalation of major military friction in the Middle East, Eastern Europe and East Asia…all while the developing economies suffer from the inflationary pressures as the currency wars gain momentum.

    The above all act to create an environment in which gold traditionally performs very well relatively due to its hedging role – albeit coincident with human suffering.

    So…can TPTB prevent the circling black swans from inevitably landing?

    Perhaps in fact the contagion is wanted by TPTB so that they may replicate the massive wealth transfer that has occurred during each and every other period of economic calamity over the past cuntury?

  • SLK_R

    I think they will announce a larger number, say 5000 to 7000. They would want a larger say on the SDR for the next 5 yrs, and larger means less to catch up on to the world, so disruption may be less.

    If USA is getting naughty, they will announce above 8000.

  • http://churchofsmoke.org/ Jose

    Gold will never be used as money again. It’s too difficult to exchange, plain and simple. Even cash is becoming rarer for financial transactions. As a hedge against inflation, gold is great. Otherwise stay away from it.

    • Sven

      Too difficult to exchange? You lack creativity. There are already mechanisms in place that allow for it to be exchanged as easily as you use a debit or credit card today.

      • http://churchofsmoke.org/ Jose

        It’s easier to buy a tank of gas with a couple marijuana buds than it is with gold coins.

        Who is lacking in creativity?

        • Guest

          There is little point debating with someone who actively chooses ignorance.

          • http://churchofsmoke.org/ Jose

            Take some gold coins to a gas station to buy gas and they’ll think they are counterfeit. Take a few marijuana buds and you will have a tank of gas in minutes.

            Gold is great for hedging against the inevitable currency reset but it is no more like money than old Stratocasters.

      • DameEdnasPossum

        Sven, there is little point debating with someone who actively chooses ignorance.

        • http://churchofsmoke.org/ Jose

          You are the ignorant one if you think the planet is going back on the gold standard.

          Even physical cash that is still readily accepted is going the way of the dinosaur.

          • DameEdnasPossum

            And when did I ever say that the gold standard would return?

            Put your bong down and stop hallucinating.

          • http://churchofsmoke.org/ Jose

            If the planet is not going back to a gold standard, then why would anyone care where the bulk of the gold is? It’s commercial uses are very limited.

  • Guy Christopher

    Excellent interpretations of a very likely scenario, Koos. Thanks.

  • farang

    Just trying to sort out all the information in article while adding input from other sources…I see a pattern here:

    1. That “certain banks” have been manipulating the price of gold by various strategies is a proven fact, yet China never makes a lot of noise about it, leads me to conclude they are stockpiling while the manipulation artificially depresses the price. Which they use to their advantage while quietly off-loading US Treasuries, especially now, at this juncture when the Euro is intentionally making itself weak/the US dollar strong and the gold stockpiling can continue.

    2. However, the Chinese also realize the US economy is running on vapors: there is weak consumer demand, which affects their export growth, so they are redirecting growth efforts internally and readying the Chinese version of the LBMA, only in physical stocks, not paper PM.

    3. When the currency war continues until a full-blown Depression sets in, devastating the EU and US, they will already be in the SDR basket, with ample gold backing the Yuan, and will de facto become the “last currency standing” backed by gold and a strong manufacturing base and a long-term partnership with their energy supplier: Russia.

    At this point, they will keep a poker face in public, while in private they will be laughing it up and telling the US MIC: “We have the gold, we have the Reserve Currency: PIVOT ON THAT!”

    I’d guess they already are at the 5% level of backing their currency. But they’ll never tell anyone, why should they?

  • 1horse

    [[∯or clarity, I have little hard evidence on the amount of gold the PBOC
    0R ITS P®0XXXIES __ __
    < <
    uuhh.ContinUuuuuu.s.e __ __ like. may be.2hH0LDyrBreath
    uh huh.
    4HunDreads0fYRS __ __ __ __ allaʬayBBack2
    < < theFFuture


    < < SilkRoad
    which's … IF
    –{{Nathan Rothschild got his money in 1799, and
    people are still wondering from where he got it.
    Three months before Tipu Sultan was murdered
    while having his breakfast, 3 Rothschild ships
    were waiting to cart away Trillions of US dollars
    worth of gold, almost HALF the // h o l e
    world's gold stock.

    This was the fruit of 5 millineums of spice trade from
    … Calicut and was stolen by Tipu Sultan from several
    temple vaults of Kerala, India.
    The British East india Company
    who were Opium runners from india to China,
    waited till Tipu Sultan made a pile of gold –}}
    < much's"dutch's" < "indie"4
    You’llSoonSee no₮ickeeN0drugʬashee d.c.
    0®IENT’ded⟳as*s a i d4c l a r i t y⟲2theFF/R∯ar

    ʬe ® marching2praetoria – – – – – > /partHeid

    1897 • the”british”Colony0fNatal /nneXX


    Due to the discovery of a vastly increasing amount of wealth in gold and diamonds within South Africa, the Rothschilds’ through their agents Lord Alfred Milner and Cecil Rhodes send 400,000 British soldiers over there to fight against the“enemy,” which consist of 30,000 Boer farmers with rifles who would rather not leave their own land.

    It is during this so-called
    ʬar that theConcentrationCamp is

    ʬhen the”british”®ound up anyone sympathetic to the Boers, which include
    women and children, and place them in unsanitary, fever ridden camps.
    TheRothschild”british”/rmy go on to win this war and thus
    / I C T O R Y
    / / S T
    //ealth in gold and diamonds ∯or the®othschilds

    Indeed in a speech he gave on October 30th, 1937, Rear Admiral Henry Hamilton Beamish, had the following to say on the subject …
    “The Boer War occurred 37 years ago. Boer means farmer. Many criticized a great power like Britain for trying to wipe out the Boers. Upon making inquiry, I found all the gold and diamond mines of South Africa were owned by Jews; that Rothschild controlled gold; Samuels controlled silver, Baum controlled other mining, and Moses controlled base metals. Anything these people touch they inevitably pollute.”


    < < G 0 L D

    __ __ as*


    __ __ in®eserve ]]]]]

    • http://www.goldsurvivalguide.co.nz/ Josh Villa

      is this not spamm??

      • 1horse

        [ “is this not a spamm????”

        Josh Villa • Guess • 20hours ago ]

        . . . in/can . . .


        [[ “is this not a spamm????”

        Josh Villa • Guess • 22hours ago

        “NZ’s top economic risk is Australia:” PerM-I-C
        • c
        • c3in/roʬ”PM Key” ]]

        . . . i’m/∯an


        JJoshIN . . .



        Z Z Z Z Z 0 0 0 Land®

        [[[_ /s*s e e n
        0 B S C E N E
        usual in jusSuch
        ∑mergencies, jjumped into the breach to stop the hemorrhaging of support for the war in Iraq – what new Spanish Prime Minister José Luis Zapatero had already given authority to, and New Zealand’s Prime Minister Helen Clark threatened to legitimize. Clark is about as close a political leader to the murdered Lindh as one can conceive of, and she is threatening to expand Lindh’s agenda against the Coalition throughout the Middle East . . . ”

        //0Nder that a Mossad kidon immediately swung into action to enter[[[₮here₮HEI®
        0ld’ddubbleDutch’∑ast∑NDie.ZZland under false documentation, and eliminate her . . .
        0btain false identities for at least the trigger men, NeʬZZland®Eli Cara set up a phony travel bureau in a house he rented in Turramurra, Australia, while fellow country[sic] Uriel

        Zoshe Kelman went through the process of gaining a passport for one of them in the name of a person suffering from cerebral palsy in Auckland. This entailed befriending a cooperative general practitioner under false pretenses who would confirm Kelman’s claims that he was the sufferer. Supervising the operation from a house near the GP
        ʬas based in //ashington . . .

        0nly trouble with the operation is that the Australian Security Intelligence Organization, and New Zealand’s Security Intelligence Service learned of it nearly from its inception, thanks apparently to a tipoff from Madrid. The GP helped by informing the passport officials that he didn’t think that Kelman – the suspect more anxious to hide his face in court, wear a mask when he might be seen by the public, and headbutt probing photographers –
        ʬho he claimed. Consequently, when Kelman arranged to pick up the passport with as many cutouts as possible in April, he was still arrested after a chase during which he threw away his mobile phone, and Cara was caught observing the action from across the street.
        Barkan//AD and the
        5th//an . . . /S*S a i d


        Usual, //anged2escape . . .

        The behavior of Clark’s government indicated just how serious the operation was. It called upon Sharon’s government to explain what it was doing, and apologize – what it clearly could not, and would not do. After three months of waiting for a reply, Cara and Kelman were prosecuted and convicted of illegally attempting to obtain a New Zealand passport – what resulted in six months in prison, and $50,000 fines to charity for each of them. Of course, they could not be prosecuted for conspiring to kill the PM without causing an unprecedented international confrontation which might well promote mor’n’M0R’0N . . .


        . . . the government discretely avoided by declaring that a M0R’N serious prosecution would divulge most sensitive information

        • In the/mean₮™ime . . . Since the sentences, New Zealand has suspended relations with Israel, declaring that it wants no ministerial contacts for the foreseeable future . . .


        • rep.rep etc.etc inter/liya & et al

        /2Z ∯rom

        2secure the murders
        0F ============= Dr.David Kelly, and
        2Sweden ===== ForeignMinister Anna Lindh

        /anunuKne// ==== deja vu/u
        /0US N∑ʬ



        ” . . . There was even a photograph of the two alleged gays in which Scher was holding Schteinberg by the penis. Israel refused to hand over the wanted Scher, justifying its stand by claiming that there was no extradition treaty with Brazil

        0ne would have thought that there would at least be a trial in Israel for Scher’s paedophile activities, but there never was one – showing that it was a covert action to divert public attention away from any similar Israeli activity in the Low Countries. Scher went on to become involved in Barkan//ad’s failed attempt2assassinate, it seems, New Zealand Prime Minister Helen Clark in 2004. Remember when Mossad agents Eli Cara and Uriel Kelman tried to get a false passport for a invalid NeʬZZland®Zealander –
        //0T Barkan//ad/pparently was going to use in making his getaway from the shooting.

        ↻ ↺ during theB-L0ʬ-
        v v – BBack of the
        ʬ H 0 L E
        0peration, Senior Israeli Consul in Canberra Amir Laty was discovered having been involved in setting up the operation’s base in Australia, and was
        ↻ ↺
        v v
        • c
        • c the CChh0ʬard government feebly explaining that he had apparently been trying to steal secrets through a honey-trap relationship with young Caitlan Ruddock, daughter of Attorney General Philip Ruddock. The Israeli government named Scher as Laty’s replacement, but Scher withdrew from the appointment, once his paedophile activities were discovered . . . ”
        ↺ ↻

        ” . . . New Zealand has already had enough of Mossad’s katsas . . . ”

        ↻ ↺
        . . . KILLIN
        //ILL as
        IS KIʬIS
        IS “a
        uniquely New
        Zealand” . . .


        * *
        /rbeit Macht Frei
        * *


        * *
        * *
        v v
        /ustria’s Jörg Haider
        ZZformerPrimeMinister Helen Clark
        under’derrGun because of her //anting
        2have the /nzac countries
        0ut of what the Israelis
        v v

        ↺ ↻ SSKKK®∑ʬ//ʬ ‘ D

        • c c. all7ʬaysFFromSunday

        v v
        “During last year’s devastating earthquake . . .
        /team of Mossad agents was caught in the city.
        0ne of the agents died in the quake. The Mossad
        /gents were found with multiple passports and thumb drives believed to have been used2download sensitive data from New Zealand government computer systems.
        New Zealand’s Prime Minister John Key, who seemingly came from obscurity in
        New Zealand politics and whose Jewish mother immigrated from England,
        DysRe:re:®eGard’ded claims of Mossad espionage during the quake,
        ∑/∑n though he spoke to Israeli Prime Minister Binyamin Netanyahu
        0n the day of the quake, after the dead//ossad/gent was discovered by
        New Zealand police and intelligence ]]]]]]
        ↻ ↻
        ↺ ↺

        * *
        ʬ 0 ® X X
        * *

  • rbblum

    Granted, China has not certified via an independent third party regarding the amount of gold in their vaults . . . . But, China has given the appearance of having more integrity than the US Federal Reserve has ever exhibited (in regards to gold inventory on hand).

    • Cluez Jones

      Agreed rbblum. Hookem.

  • Paco Rutten

    Excuse my grammer I’m not a native speaker of English neither do I have spelling control here. But this is about a bigger picture and about the wool that is being pulled over our eyes by the shared institutions we have the world over, even if they seem to culturally differ from each other they all share the same systematics and are all about controlling our conception. That’s hpw a few control the many that are working against each other and themselves because we let them push our buttons without us knowing what these buttons are. We don’t realize the power behind the word we use and the meaning of these words neither do we understand how sensitive we are to manipulation as we are in the middle of a society designed and build in order to manipulate us. They all have us believe we are something we are not, not to trust eachother, that there is not enough in the world for all of us, that we are warlike creatures and won’t work without being ordered to. And after many centuries of inprinting this idea we have started to believe it. It’s a clever interwoven muttually supporting from the top down in false opposition operating mafia. For instance the banking system is interwoven with the religious, military and governing systems and are all loyal towards each other worldwide. There is this huge smokescreen about what is money, who are in control of this “money” and it’s openly (hidden in plain sight, revealing the method, normalizing the corruption) shown method to make us comply and accept as normal the goal of this fascist global money monopoly. And although there is some competition between nations, the people running this religion, money, military and governing monopoly are all in the sack together worldwide. It is a matter of secret societies and mind control, presenting themselves as doing good for society to cover up their terrible crimes. That most people don’t recognize this is because they are being mind controlled themselves. The common denominator in the west at the moment for instance is Freemasonry (just look how more then 50% of US presidents for instance were all masons and had family ties) . From Bank of America to ABN Amro, Mac Donalds to KFC, from Unilever to Nestlle, from Nike To Addidas, From Ford To VW, from Jewish Christian Kabbala to Islamic Kaba-Allah and everything inbetween from Scientology, Mormonism, 7th day Adventist or the more then hundred other different New age noncense religions and the hundreds of different denominations withing Christianity, Islam or Judaism they are all controlled in the top by secret connecting societies. Everyone who does a simply research into freemasonry worldwide and would visit their temples could see this for themselves. But hey what a suprise they also control the media, police, judicial court and prison systems and have people distracted with popular media entert(r)ainment and sports plus all kind of other self destructive nonsence like hard drugs. And sheeple at the bottom of the piramid or halfway up have no clue as to were the power is seated, because it’s highly compartmentalized and created from the top down in a period of several centuries when “royal” elites and their priesthoods (and the other way around) just controlled whole global nations where the sun would never set. All this power on the basis of a few powerbrokers holding the seat together in mutual support. Even after they supposedly left their colonies hey left behind the structures and smaller local elites wo were loyal to them and the riches they bring for keeping loyal to them. People like the Shah of Iran, Kadaffi, Saddam, Poetin and Obama are just puppets to them and have nowhere to go if they get used up and disgarted for the overall interests these family have. It’s all based on ancient trauma based mind controlling elites and their personal gains for staying in governing secret society positions. And these puppets on the inside can never expose the fraud since hey all are corrupted themselves. We had JFK once try to inform the people about this fascist fraud and gave a speech exposing all of this network whilst trying to take their money printing power away and he got shot in Dallas for it: http://www.youtube.com/watch?v=IxNw8OhmVZE
    Kennedy knew since his father was deeply involved and he found out the ugly truth when becoming president instead of his older brother who died in WW2. They have so many people working for them in key positions that it’s imposible to fight this corruption within the system, they are the system. That’s why we see so many child abusers in high positions, gay men hidding their sexuality (why they are in the closet?. One would think in the west being gay is not an issue anymore?), murderers and other criminals at the top. They like them to be under mutual extortion and blackmail of each other. And you see them destroy whole nations killing millions of innocent people (men, woman and children) whilst they as the international rulling puppet elites are given a free pass to go abroad and wait out the crisis with their Swiss bank accounts and privileges. We’ve seen these globally connected networks fund Hitler, Pol Pott, Mao, Kim Jung Un, Pinochet, etc etc. There are many groups above freemasonry that control freemasonry and uses the freemason organization as a selection process for candidate needed for the higher up positions. The western countries as well as the eastern countries are in this together. Assia is under their rule as well as Russia, Europe, US, South America, Africa and Australia. It’s like the Japanese company that build 2 casino’s across the street of each other to make them compete with each other in order to make the employees work harder for their customers And as they make us work harder for our owners under maritime trade law and under legalese we are creating our own “1984” and “A brave new world” open air prison, selling our freedom for some short term trinkets. The same thing is happening with the sheeple all over the world. Every elite in control of the printing news and money press (and everything they buy with it, including the gold when they switch the playing board from paper to metals and back again). They all fear the common working man the world over and need artificial wars to have an excuse for governing the people while staying in power, they all need these conflicts as an excuse to rule. The chinese elites, as well as the Russian, European and US etc. And yes they have some competition among each other like the maffia in Italie (which is also controlled by freemasons (former P2 lodge) as is Washington DC with their temple of the 33rd). They change seats at the dinner table but all of them will hold together. They plunge us into a new war as soon as the sheeple notice that 90% of the recources and control goes to these corrupt central banking, religion and military controlling families that have founded and bought the political parties and their politicians. Could go on for days about this subject since it is controlling all aspects of society and peoples lives. Wheather it’s printed paper this decade, shinny metal the other or ones and zero’s in the future, almost everyone is some sort of slave to this system, even if they don’t realize that they have no real control over their own lives and are all depending on the system to survive instead of living in peace and rst within the sustainable everlasting natural recources. These monopolists have traumatized and scared so many people that they are confident enough to more and more expose themselves in ways to intimidate the people in staying afraid and in servitude as they try to normalize the corruption and make us accept it. Plus they wanna keep the real conspiracy to be watered down with occult nonsence to keep people searching. But there is a truth and it’s consistent even if we don’t have all the answers yet, we outnumber them 10.000 to 1 but we have to stop worshipping this prison system even if it is not directly profiting our generation. It’s stranger then people think and once people get it the fraud is easily recognizable and defeated if we just hold together. Yeah yeah, I know, hippie talk of a crazy conspiracy nutcase, but I live in this world, I traveled, studied and worked in this world and I see the “proffesional” arrogance of corporate culture every day and time will tell. And eventually the time will come when all is revealed to the rest of us sheeple in this animal farm, even to those in a fancy suit with a fancy car, big bank account, big house and technological gadgetry.

Copyright Information: BullionStar permits you to copy and publicize blog posts or quotes and charts from blog posts provided that a link to the blog post's URL or to https://www.bullionstar.com is included in your introduction of the blog post together with the name BullionStar. The link must be target="_blank" without rel="nofollow". All other rights are reserved. BullionStar reserves the right to withdraw the permission to copy content for any or all websites at any time.