The diplomatic battle over what to do in Syria may be on hold for the time being, but the core conflict in the battle to save the petrodollar is still in play. On Sept. 13, a former head trader at the Royal Bank of Scotland (RBS) provided new insight to the recent pull down of precious metals and the sudden currency crisis taking place in the nation of India. In his update, the man known as the Guerrilla Economist believes that when the U.S. failed to secure domination over events in the Syrian civil war, they and their Western partners began an all out economic attack on the BRIC nations, and their plans to replace the dollar with a new reserve currency.
The question becomes where is this suppression coming from? Or better yet what is the underlying stratagem that is currently seeing a Precious Metals (PM) price drop? I will go ahead and highlight this for you, remember what a population/general public does and what it's government/financial institutions do are two different things. With that being said I will say that the reason of this current metals manipulation is none other than INDIA. I recommend all of you to go back and read my alert on August 28 titled "The Implosion Has Begun But NOT Yet" in there I detailed the take down of India from financial insiders thus hobbling the BRICS and the formation of the IMF rival bank.
Folks be not deceived what we are witnessing here is the very apparatus of the petro-dollar peddlers that are now on a full scale war against any and all rivals. First to fall were the Gadhafi tied African nations that dared to have a gold backed Dinar that will trade against the dollar for petroleum commerce preeminence. We all saw what happened to poor old Mommar. The next card to topple was a Egypt where a disgruntled employee of Globalism Inc. Hosni Mubarak was removed, a fanatical regime was put in his place and on began the "Arab Spring" that is turning into the Arab Nuclear Winter. - V, the Guerrilla Economist, Steve Quayle Q Alerts
In September of last year, we reported that China made the first move in the future creation of a new reserve currency when through an agreement with Russia, began buying and selling oil in currencies other than the U.S. dollar. This was shortly followed by a new trade partnership with 15 different Asian countries that encompassed over three billion people within their sphere of influence.
Additionally, China has called for a new Bretton Woods conference in recent days, with the intention of creating a coalition of nations to vote out the dollar, and agree on a new international trade currency.
To counter this, U.S. led central banks began to devalue their currencies in a move that would trigger a global currency war, and strengthen the dollar's position. Beginning in Japan, where Prime Minister Abe instituted a massive bond buying scheme that drove up their stock market, but caused the economy to experience rising inflation, the devaluation of the Yen shocked Asian trade partners like China and India within the last quarter.
In the past four months, nearly all of the BRICs (Brazil, Russia, India, China, and South Africa) nations have experienced threats to their economies or currencies. Russia currently sits as the sole BRIC nation relatively unscathed, but that is due to their oil and natural gas contracts that are still needed in Europe and the Far East. It is this economic power in energy that makes Syria so vital for both the U.S. and Russia, as the winner of the Civil War will gain an upper hand in who supplies energy to Europe in the future.
There is a conspiratorial anecdote that says all wars are banker wars, and judging by the underlying objectives fueling the conflict in Syria, this assessment is not far from the truth. At stake is the U.S.'s continuing dominance over the petrodollar, and the right to print money as they see fit. And as more countries join the China-Russia coalition to oust American dominance in the global economy, combinations of financial and military actions will continue to be used to protect the status quo.