For years, key Western central banks (read the Federal Reserve and the Bank of England) have been manipulating the gold prices to preserve the U.S. dollar’s role as the world’s “reserve currency primus.” But China and Russia now seem to be tired of the clandestine gold price manipulation by Western banks, American-German economic researcher F. William Engdahl told Sputnik News.
China’s master plan to break the world’s dependence on the US dollar
Today, the Over-the-Counter (OTC) trades cleared through the London Bullion Market Association and the COMEX gold futures market in the U.S. set prices that are followed around the world. But these markets are dominated by scandal-ridden and corrupt organizations like UBS, JPMorgan Chase, Barclays, Deutsche Bank, and HSBC.
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