Bob Chapman: Crisis of Fiat Currencies: US Dollar Surpluses Converted into Gold - China, Russia, Iran are Dumping the Dollar

Crisis of Fiat Currencies: US Dollar Surpluses Converted into Gold - China, Russia, Iran are Dumping the Dollar

by Bob Chapman


Global Research, November 22, 2010
International Forecaster - 2010-11-21

Something is going on that your government does not want you to know about. Very few journalists have written about it and little or nothing has appeared in the mainstream media. The story could be one of major stories of our time.


Western powers have tried to destroy gold as a backing for currencies for many years. Presently the major media won’t touch the story and that is understandable.


Something we have been writing about for years is the Shanghai Cooperation Organization known as SCO. Few have been listening and few have been interested in what their mission is and what they have been up to.


Some of the members are large oil producers and some, like China, are large oil users. Some have very large US dollar surpluses. As well, some are large commodity and gold and silver buyers. In fact, members are in a great part responsible for driving these prices higher. It is debatable, but we believe there is a conscious effort to accumulate gold and silver, dump dollars and to back their currencies with gold.

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