Eurasian alliance plans to eliminate London’s metal market dominance as well as USA dollar dominance


Steps have been taking place in the East, as well as in Europe, to push aside the UK’s and USA’s dominance of the world’s finances.

ZeroHedge reported the following Submitted by Ronan Manly,

Eurasian Alliance Plans A Moscow World Standard To Destroy LBMA’s Monopoly In Precious Metals Pricing

September 4, 2022

Moscow and a number of its Eurasian allies are now reviewing a proposal to create an entirely new trading and pricing infrastructure for the international precious metals in order to both destroy London and New York’s monopoly over global precious metals pricing, and to stabilize the Russian gold market.

This infrastructure would take the form of:

  • a Moscow World Standard (MWS) for precious metals trading, akin to the London Good Delivery List of the London Bullion Market Association (LBMA)
  • a new international precious metals exchange (trading venue) headquartered in Moscow based on the MWS, and known as the Moscow International Precious Metals Exchange
  • a Price Fixing Committee, with price discovery and new precious metals price fixings based on the MWS, and reference prices derived in the national currencies of participant countries or in new international settlement units …

On 29 July in an article titled “The Ministry of Finance of the Russian Federation launched a discussion on the reform of the world gold market”, news site URA said that:

The discussion on the new gold standard was initiated by the Eurasian Economic Commission (EEC)the regulatory body of the Eurasian Economic Union (EAEU), the EEC press service told URA.RU on July 29.” …

According to a EEC spokesman – ‘On July 11Sergey GlazyevMinister for Integration and Macroeconomics of the Eurasian Economic Commissionheld a meeting to discuss a proposal to create an international standard for the precious metals market as an alternative to the London Bullion Market Association (LBMA) and infrastructure for the circulation of tokenized gold and precious metals.

The meeting with Glazyev was attended by experts from the ministries of finance and central banksnational exchangesproducers of precious metals, as well as other interested organizations of the EAEU states.

This is a pretty incredible and high level list of entities who attended the meeting with Sergey Glazyev and would be expected to send shockwaves through the Western central banks and their bullion bank counterparts. …

A Moscow World Standard (MWS)

Prime (RIA Novosti) and RBC say that the Russian Ministry of Finance letter proposes the creation of “a new international standard for the precious metals market – Moscow World Standard (MMC) – Moscow World Standard (MWS). MMC is the Russian version = Московский мировой стандарт

Given that as part of Western sanctions against Russia, the London Bullion Market Association (LBMA) ejected all of Russia’s Good Delivery gold and silver refineries from the LBMA Good Delivery List on 7 March 2022 (the 6 refineries namely Krastsvetmet, Novosibirsk, Uralelectromed, Prioksky, Shyolkovsky, and Moscow Special Alloys Processing Plant), then this new proposed Moscow World Standard (MWS) looks like a replacement for and new competition to the LBMA Good Delivery List. …

Everyone Invited – Coalition of the Willing

Beyond the EAEU countries of Russia, Belarus, Armenia, Kazakhstan, and Kyrgyzstan, the Prime (RIA Novosti) news agency states that the Russian Min Fin letter is envisioning an even wider participation within the proposed new system:

“It is necessary to make membership in this organization attractive to all, without exceptionforeign participants in the precious metals market, especially China, India, Venezuela, Peru, and other countries of South America and Africa, according to the Ministry of Finance.”

Throughout the Russian media coverage of the Min Fin letter to Russian financial sector participants, they stress the objective of the new system is in ending the LBMA / COMEX dominance of precious metals price discovery. …

In an even more recent interview on 24 August with Russian-language business daily newspaper Vedomosti, Sergey Glazyev refers to the proposed Moscow Gold Standard  Eurasian Standard, and the need for Russia to continue to buy gold:

“now it is necessary to replenish [for ex reserves] primarily through the purchase of gold. The Central Bank needs to increase activity in this direction and bring the share of gold in the composition of gold reserves to 80%.

In response to Vedomosti’s remark that the liquidity of Russian gold under the conditions of the West’s embargo on its purchases is in question, Glazyev announced the need to quote Russian gold on world markets. ‘This means that you need to introduce your own gold standard, which would be recognized at the international level, with a gold quotation on the Moscow Exchange and completely get rid of the London Exchange“

On a ‘Eurasian standard”, Glazyev says that:

“this Eurasian standard must first be agreed with our partners, for example, in the SCO.” Russian gold will be quite liquid on the Asian and global markets in general, regardless of the position of Western countries. …

In the future, other commodities produced in the SCO countries can be added to gold as collateral for the new world settlement currency.

Together with a pool of their foreign exchange reserves, this would become the basis for creating a very stable and reliable payment instrument, an alternative to the current ones.”

… SCO refers to the “Shanghai Cooperation Organisation” whose members are China, India, Russia, Pakistan, Kazakhstan, Tajikistan, Kyrgyzstan and Uzbekistan. There are also 4 Observer States interested in attaining full membership (Afghanistan, Belarus, Iran, and Mongolia) and 6 Dialogue Partners (Armenia, Azerbaijan, Cambodia, Nepal, Sri Lanka and Turkey). Iran is in the process of moving to become a full SCO member, while Egypt, Qatar as well as Saudi Arabia are becoming dialogue partners. One of the SCO’s priorities is regional development.

This article was originally published on the website under the same title “Eurasian alliance plans a Moscow World Standard to destroy LBMA’s monopoly in precious metals pricing“.

Yes, there are moves to push the UK and USA aside. If enough nations agree, it will happen.

As I have warned for years, there are costs for sanctions. As well as a cost for Brexit. Notice also the following:

London is in danger of becoming a mere “regional stock market” down the line unless it significantly raises its game — that is the warning from Mark Austin, the latest person charged with sprucing up the UK’s listing rules and helping the city maintain its position as one of the world’s leading financial centers.

“We need to be fleet of foot, ambitious and bold,” said Austin, a partner at law firm Freshfields Bruckhaus Deringer, who was commissioned to lead a government review into London’s capital markets. For companies wanting to list in Europe rather than the US, “London was often the go-to option; that is not necessarily the case anymore. They are increasingly also eyeing Amsterdam or other venues, be it for valuation, or easier regulation,” he said in an interview.

It’s a sentiment that’s repeated across the City of London: hope for the capital’s future as a financial hub outside the European Union, mixed with anxiety that the Brexit vote six years ago has so far only led to stiflingly slow change and political rows.

The UK and USA have been somewhat “shooting themselves in the foot” financially by what they have been doing.

Now, notice something from July about eliminating the USA dollar as the world’s primary international settlement and reserve currency:

Targeting the US Dollar’s Hegemony: Russia, China, and BRICS Nations Plan to Craft a New International Reserve Currency

July 24, 2022

While inflation data in Europe and the U.S. has risen significantly higher last month, Russia and members of the BRICS countries revealed leaders in the five major emerging economies are in the midst of “creating an international reserve currency.” Analysts believe the BRICS reserve currency is meant to rival the U.S. dollar and the International Monetary Fund’s (IMF) Special Drawing Rights (SDRs) currency. …

During the BRICS Summit, Russian president Vladimir Putin announced that the five-member economies — Brazil, Russia, India, China, and South Africa plan to issue a “new global reserve currency.”

“The matter of creating the international reserve currency based on the basket of currencies of our countries is under review,” Putin said at the time. “We are ready to openly work with all fair partners,” he added. Additionally, Turkey, Egypt, and Saudi Arabia are considering joining the BRICS group. Analysts believe the BRICS move to create a reserve currency is an attempt to undermine the U.S. dollar and the IMF’s SDRs. …

China has been hoarding massive amounts of gold as well, as both countries hiked their gold reserve purchases a great deal a few years before the war. Russian banks also joined the China International Payments System (CIPS) making it easier for the two countries to trade. In April last year, China opened its borders to billions of dollars of gold imports, according to a report from Reuters. …

Since World War I, the U.S. dollar has been the world’s global reserve currency and America emerged as the largest international creditor. … However, the Russian ruble has been a strong competitor to the dollar this year and has been one of the best-performing fiat currencies in 2022.

July 13, 2022

The BRICS countries have increasingly taken steps to de-dollarize their economies and protect themselves from sanctions. For years, discussions about trade settlements outside the SWIFT system have been common among BRICS countries. …

Russia has strengthened BRICS alliances by selling oil to BRICS countries at a discount outside SWIFT. In May, Chinese imports of Russian oil were up 55% from a year earlier. Russia has surpassed Saudi Arabia as the top supplier of Chinese oil. Also, Russia and China are conducting many cross-border lumber transactions in both Chinese Yuan and the Russian Ruble. A Chinese Communist Newspaper, the Global Times, editorial argued that BRICS should push for all its members to use local currencies to push back against the dollar hegemony. The article went on to say, “If they can achieve that goal, other developing nations will also join them when it comes to developing alternative financial infrastructure in response to reckless U.S. sanctions.”

Iran has applied to join BRICS. Russia is Iran’s ally, and China is the primary customer of Iranian oil. Iran’s significant oil deposits are probably desirable to the other BRICS nations. Argentina has also applied to BRICS. Argentina has large deposits of oil, metals, and beef production. The resources of Iran and Argentina are strategic if BRICS successfully create a commodity-based currency. After Russia pegged the Ruble to gold earlier this year, the likelihood of a BRICS commodity-backed currency significantly increased.

The BRICS economic influence extends beyond what most realize. BRICS have opened a bank called the New Development Bank (NDB) and has begun funding projects. A joint statement from BRICS finance ministers and central bank governors said, “We encourage the NDB, as a leading provider of solutions for infrastructure and sustainable development…expand local currency operation, improve its credit ratings…including undertaking more co-financing ventures.”

The BRICS are gaining economic significance …

BRICS de-dollarizing represents one of the greatest threats to the Dollar.

All the infrastructure is being built to de-dollarize the world economy. The Chinese Communist Party’s newspaper calls for pushback against the Dollar’s hegemony. BRICS are actively building a currency and have already opened multiple banks. Russia has already pegged its currency to gold. Multiple signposts are warning of a bleak future for the Dollar, and indeed, there will be a divided world economy or unbelievable violence to hold the current economic structure together.

BRICS are protecting themselves from the danger of the Dollar and building their alliances with physical gold and energy. South Africa is a part of BRICS not because it is a large economy. It just has a lot of gold.

Increasing USA debt and the USA’s weaponizing of the dollar are pushing many nations to figure out how to drop the USA dollar. Brexit has motivated the Europeans to look for options other than London.

Russia, China, and much of Europe have been increasing gold reserves (though in Europe, it has been more repatriating of gold).

Because most of the world has had its international trade tied in with the USA dollar, when the unbacked USA dollar finally crashes, people will want something with at least a claimed backing.

Perhaps it should be pointed out that there is more official gold in Europe than in the US (unofficial, private gold levels are harder to determine; see The Plain Truth about European Gold).

After the USA dollar is gone, the Bible shows that Europe will dominate international trade and finance, and this will involve gold (cf. Daniel 11:37-43; Revelation 18).

The Bible shows that the European King of the North will end up with gold. Notice something that I wrote about this in my book Biden-Harris: Prophecies and Destruction:

Daniel 11:43.

43 He shall have power over the treasures of gold and silver, and over all the precious things of Egypt; also the Libyans and Ethiopians shall follow at his heels.

The “he” is the King of the North. This is the same King of the North that valued gold and silver in Daniel 11:38. Although other scriptures also show that gold and silver will have value around this time (like Revelation 18; 9:20), the Bible is clear that gold and silver will be worthless for a short time before Jesus returns, e.g. Ezekiel 7:19.

The fact that the King of the North himself will accumulate gold (and some silver) is consistent with several Byzantine (“Greek” Orthodox) prophecies of their expected Great Monarch:

Emperor Leo the Philosopher (died 912): You will amass gold … And you will be the leader of the surrounding nations …

Addressed to Emperor Manuel II, Palaeogous (died 1425): The Emperor … will discover gold and silve r…

Saint Andrew Fool-for-Christ (c. 4th century): God will reveal to this king all the gold wherever it happen to lay concealed from view …[i]

One side note is that, in Egypt, major gold deposits were found in 2006.[ii] This is relevant as it does suggest that Egypt now has enough gold that a foreign power could be interested in taking/using it as Bible prophecy teaches.

Since many are now questioning the role of the US dollar as the world’s reserve currency, more are looking into other currencies as well as gold. Gold will set records in US dollar terms. In 2017, I also published that in my book related to Donald Trump, and it did in July and August in 2020. [iii]

It has been proposed that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance.”[iv]

When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer.

The collapse of the U.S.A. dollar will shake a lot of the world’s confidence in non-gold backed currencies.

The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the U.S.A. dollar.

Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.

The debt accumulation policies of the Obama-Biden and the Trump-Pence Administrations, which were a massive acceleration of the previous policies of the Bush Administration, look like they will be continued by a Biden-Harris Administration.

The increases in America’s debt are heading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.

A Biden-Harris Administration would need to make massive changes to possibly prevent this.

The U.S.A. and its dollar are at serious risk.

[i] Tzima Otto H. The Great Monarch and WWIII in Orthodox, Roman Catholic and Scriptural Prophecies. Verenikia Press, Rock Hill (SC), 2000pp. 76, 102, 114

[ii] A Gold Mine Worth LE 23 Billion (and counting). Egypt Today, August, 2006

[iii] Gold hits new record, posts best month since 2016 CNBC, July 30, 2020; Woodall T. Gold surges to new highs as US dollar weakens despite growing macro risks. S&P Global, August 10, 2020

[iv] Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016

(Thiel B. Biden-Harris: Prophecies and Destruction. Nazarene Books, 2021)

The Biden-Harris Administration has already taken significant steps to increase US debt since that writing was published (which was a few days before Joe Biden took office). Such debt is expected to increase even more.

Russia, China, and other nations are working towards a world where the USA dollar is not the world’s primary reserve currency and a world where gold rises up.

The BRICS and other calls for a basket of currencies with implied gold backing is something I have long warned was a possibility.

Gold will outlast the USA dollar and the UK pound.

Yet, the Bible is clear that those who amass gold at the end time will find it is not the answer:

1 Come now, you rich, weep and howl for your miseries that are coming upon you! 2 Your riches are corrupted, and your garments are moth-eaten. 3 Your gold and silver are corroded, and their corrosion will be a witness against you and will eat your flesh like fire. You have heaped up treasure in the last days. (James 5:1-3)

While I do not have the confidence in gold as many ‘gold bugs’ do (basically, because of scripture and the fact that gold has a limited utility), the time will come when the USA will wish it had more gold, as its practice of electronically printing and borrowing its own money will create a massive problem for it (Habakkuk 2:6-8).

But have no doubt about it, the Bible prophesies that during the Great Tribulation (Matthew 24:21-22; Daniel 11:39-43; Revelation 18:12,16) that nations around the world will value gold. During that time, there will be no USA dollar prominence.

Steps to push aside the USA dollar and the UK’s financial influence are happening.

The more the USA uses its dollar as a weapon, the more nations want to work for a way around it.

Even part of the point of BRICS originally was to bypass the USA dollar. That was also part of the rational the Europeans had when they came up with the euro.

The USA keeps pushing nations away from its dollar through weaponizing it and putting in place various sanctions. The UK keeps upsetting Russia and many in Europe.

There is a cost to those nations for doing that–and one greater than some inflation.

The USA dollar and UK pound will one day be worthless.

Many around the world are taking steps to bypass the Anglo-American world order.

And the Anglo-American world order WILL FALL!

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