Writer and researcher Alasdair MacLeod from GoldMoney.com joins us to discuss the situation in the Ukraine, and the Ukrainian gold bound for China (or Germany) by way of the United States. Alasdair notes that the Ukranian gold reserve is only 33 tons – which is less than ONE WEEK of demand by the Chinese pubic.
Alasdair says the western powers have been checkmated by China which has CORNERED the gold market and DRAINED western bullion bank vaults. Alasdair says that through 2013 the gold has been supplied by the Central Banks, but now “the vaults are empty and China knows this. Russia knows this.”
Alasdair says the situation in the Ukraine could lead to the financial equivalent of nuclear war: “This is why I think the developments over Ukraine are so very, very important. If we want to take them on in a game of chicken, they have got us. There is nothing we can do. We’ve got NO GOLD. They could drive up the gold price to $10,000 tomorrow and there’s nothing we could do about it. It would BANKRUPT the western banking system.”