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Grant Williams sees oil pricing transitioning to the yuan and gold

Grant Williams sees oil pricing transitioning to the yuan and gold

gata.org / 2017-02-10 03:35

Dear Friend of GATA and Gold:

Market analyst Grant Williams’ presentation at the Mines and Money conference in London in November, posted in the clear at Zero Hedge tonight, sees the end of the petrodollar system and its gradual replacement, already underway, with a Chinese yuan convertible into gold, transferring the gold pricing system to Asia:


Williams, publisher of the “Things That Make You Go Hmmm. …” letter, writes:

“If you are an oil producing country, do you:

“– Minimize your production in order to maximize your holdings of one of the most abundant and easily-produced commodities in the world — U.S. treasuries — as has been the case for the last 40 years, knowing full well that, with the level of entitlements due in the next decade, more will need to be printed like crazy? Or do you…

“– Maximize your production to gain the largest possible market share in the biggest oil market in the world and, through the ability to buy gold for yuan, thereby maximize your reserves of a scarce, physical commodity that is impossible to produce from thin air and that happens to be not only the most undervalued asset on the planet, but is trading at its most undervalued relative to U.S. treasuries in living memory?”