arabianmoney.net / December 29, 2012
Why would some global central banks actually want the price of gold to rise? Well they hold a lot of it on their balance sheets and in order to balance their assets against their rising liabilities one way to achieve this is to allow the price of gold to go up.
So inflate away the debts of the world by allowing the price of gold to increase? It is not as mad as it sounds. If you want to reset the global financial system this is one method of achieving it: tie the currencies of the world more closely to gold. It worked before for several hundred years.
You could not imagine the US Federal Reserve leading this, but the central banks of China, Russia and Europe? It is not so outlandish at all. The Chinese have a stated policy of doubling their gold reserves over the next three years and have supported the IMF’s plan for Special Drawing Rights including gold as a new global currency.