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China Acquires North American Gold Company With Hard Cash, Expanding BRICS Influence

China’s Yintai Gold is making moves.

They just announced they’re snatching up Canadian gold company, Osino Resources. And with all cash.

That’s $272.53 million, folks.

Osino’s CEO, Heye Daun is calling this a real win for Osino’s shareholders.

This feels like it’s a strategic chess move. China’s is not only diversifying by gaining a Canadian company, they’re also strengthening its foothold in North America.

We’ll have to keep an eye on how things unfold

Tweet:

Reuters reports:

China-based Yintai Gold (000975.SZ), opens new tab on Sunday said it will acquire Canadian gold exploration firm Osino Resources (OSI.V), opens new tab in an all cash deal for C$368 million ($272.53 million).

Osino will end its C$287 million deal with Canadian gold miner Dundee Precious Metals (DPM.TO), opens new tab, which was announced in December, and Yintai also will pay a $10 million termination fee for the deal, according to the statement.
“Whilst we were appreciative of the previous offer from DPM, the all-cash offer from Yintai represents a significant premium to the DPM offer price, thus is clearly a superior proposal, and is an excellent outcome for Osino’s shareholders,” Osino CEO Heye Daun said in a statement.
And let’s not forget this little story:

China’s Central Bank Buys Up More Gold Than Anyone Else

The People’s Bank of China increased its reserves faster than anyone else last year. Whether it is due to geopolitics or prudence is anyone’s guess. 

China bought 225 metric tonnes of gold in 2023, bringing its reserves to a total of 2,192, an infographic released by Visual Capitalist on Wednesday indicates (based on Federal Reserve, IMF, World Bank, and World Gold Council data).

The conventional wisdom might be that it is a hedge against the fraught geopolitical situation between the mainland and the US – or a way of bolstering its currency in the difficult economic circumstances the country finds itself in.

Playing Catch Up

But when looking at the larger context, it seems clear that China is still playing catch up with the other major central banks of the world.

It currently has exactly two times the gold reserves that the Swiss National Bank (1,040 tonnes) has. That is not all that much when you consider the vast disparity between the two countries.

Bars per Capita

The Swiss population? Almost 9 million – a sharp contrast to the more than 1.4 billion individuals in China, with GDP currently about 1/17th of that on the mainland. In other words, that is a high number of gold bars per capita for every Swiss resident.

But the same thing holds for other countries in the Asia Pacific region. Japan has a low level of central bank gold reserves (847 tonnes) as does India (801 tonnes). You could even see the latter as a paltry sum for what became the world’s most populous nation in 2023, particularly given the societal importance of gold, other precious metals, and jewelry.

High Reserves

Other countries with significantly higher reserves than China despite having far lower populations and smaller economies include France (2,437 tonnes), Italy (2,452 tonnes), and Germany (3,353 tonnes). However, the Federal Reserve’s holdings, at 8,133 tonnes, continue to significantly surpass those of all other central banks.

As the online publisher indicates, gold, which hit record levels in December, remains an important store of value and a hedge during economic crises.

So is BRICS planning on having a gold-backed currency soon?

We’ll have to keep an eye on China and their obsession with buying up all the gold.

Remember when we used to be able to have gold but then the government confiscated it?

Good times.

ChatGPT, remind our readers about that:

The confiscation of gold by U.S. banks refers to an event known as the “Gold Confiscation” or “Gold Requisition Order” issued by President Franklin D. Roosevelt on April 5, 1933. This executive order, known as Executive Order 6102, required all persons in the United States to deliver all gold coins, gold bullion, and gold certificates owned by them to the Federal Reserve in exchange for U.S. dollars. The order aimed to stabilize the economy during the Great Depression by preventing hoarding of gold and allowing the government to increase the money supply.

Under this order, individuals and businesses were required to turn in their gold holdings to authorized banks by May 1, 1933. Failure to comply could result in fines or imprisonment. The confiscated gold was then stored in secure government vaults, and private ownership of gold for investment purposes was effectively banned.

And that was back in 1933.

Our government has been corrupt for decades and decades.

Finally in 1974 President Gerald Ford signed legislation that allowed us slaves the ability to own gold.

But we’re not slaves. So why would free citizens need some legislation from those that supposedly ‘work for us’ to own gold?

Hey civil servants, can I please buy some gold? Why are we asking these people for permission?

RELATED:

New BRICS Currency Value: $55 Per One BRIC?

Earlier today I brought you big news from the BRICS nations….

And very BAD news for the USA and the US Dollar.

That report here:

DeDollarization Accelerating: BRICS Nations Launch Payment Network — USD Crash Incoming?

And now that this is accelerating so fast, I want you to see this….

Where does it all land?

What does the “new Financial system” look like?

Read this:

New BRICS Currency — $55 Per One BRIC?

Heads up folks…

We’ve been covering this story for a long time and it looks like it’s about to launch very soon.

And the results could be devastating.

Depends on your perspective I guess, because GOLD very well could soar!

Allow me to explain.

We’ve been telling you about the coming BRICS currency that will directly challenge the US Dollar as the world reserve currency.

That’s bad…very bad.

Reports are now saying the BRICS currency will be backed by GOLD.

Remember when we took the US Dollar off the gold standard?

Foolish.

And it looks like those chickens are coming home to roost.

EXACTLY like Bo Polny has been telling us each time he comes on my show.

But now let’s dig into the details (and be sure to read to the end where I tell you what YOU can do to protect yourself — you are not a victim or a bystander here, you can take action! More on that below)

Here is Jim Rickards explaining how the BRIC will likely be priced:

And here is another one that claims the BRIC will be valued at $55 USD / one BRIC.

Oh my, that is very bad for the US Dollar.

You have to watch this:

In case you feel a little lost right now, you need to read my prior report which gives you all the backup for how we got here.

And towards the end is what YOU can do right now to protect yourself.

Keep reading:

Jim Rickards: New Gold-Backed World Currency UNVEILED August 22nd!

Want the future in advance?

That’s what Jim Rickards is claiming to bring you.

In case you don’t know Rickards, he’s a somewhat legendary figure in the world of finance.

Definitely a lightning rod.

And we like lightning rods around here.

We like people who put out information and then stand behind it….

….people who are bold enough to put out something controversial!

Don’t want to make any enemies?

Don’t want to be criticized?

Stay in your parents’ basement and don’t ever do anything noteworthy in life.

But to the people who step out and go for it, we like those kind of people around here — even if they’re wrong sometimes.

Will Jim be wrong about this?

We will see soon, but I know one thing: it’s fascinating and we’re covering it here and warning you ahead of time!

So first of all, we have to explain who is Jim Rickards in the first place?

Jim is ex-CIA, which I always say is kind of a misnomer because are you ever really “ex” CIA?

I don’t think so.

Actually more accurately I believe the story goes that Jim was hired by the CIA to war plan financial attack scenarios that could bring down the USA.

Noble goal.

So if you want to find out what possible financial attacks could be launched against the USA you want to go to one of the best and most creative financial minds out there and so they went to Rickards.

So that’s the background of who he is and why he matters.

Now let’s cover his latest message, which is the BRICS nations will be adding new members and announcing an official gold-backed world currency on August 22, 2023 which will dethrone the dollar.

Sound familiar?

Sound exactly like what Bo Polny keeps telling us?

Pay attention folks, this is no game!

If and when the US Dollar collapses, you want to be on the right side of that collapse, because it will get VERY ugly, very fast.

Linda P. Jones is another notable figure in finance and her she is covering the same story — US Dollar “end” is August 22:

Here’s more on the plan, fully explained by MROnline:

In an op-ed posted on The Daily Reckoning on Tuesday, former CIA and Department of Defense advisor and investment banker James Rickards predicted that August 22 will be the day the U.S. dollar’s status, as the world reserve currency and medium for exchange will formally collapse.

Many factors are worth considering, including the weaponization of the dollar against Russia’s economy amid the conflict in Ukraine, the U.S.’ own national debt of $31 trillion, and recent talks on the part of the BRICS+ group to create an alternative trade and reserve currency that would rival the dollar.

“On August 22, about two-and-a-half months from today, the most significant development in international finance since 1971 will be unveiled,” Rickards writes in reference to the upcoming BRICS+ Leaders Summit which will unveil plans for substituting the dollar in global trade.

What is interesting to note is that on that same day in 1971, August 22 was also the day the U.S. dropped the gold standard. “It involves the rollout of a major new currency that could weaken the role of the dollar in global payments and ultimately displace the U.S. dollar as the leading payment currency and reserve currency,” Rickards added, noting that the shift could span over a period of “just a few years.”

Rickards says the push for a new currency spearheaded by the BRICS+ group will “affect world trade, direct foreign investment and investor portfolios in dramatic and unforeseen ways,” and cause an “unprecedented […] geopolitical shockwave.”

He also said that the BRICS+ plans for expansion are “the most important development of the BRICS system,” noting that eight countries have so far already applied for membership, along with twelve others expressing an interest in joining the bloc, including Saudi Arabia, which assisted the U.S. in propelling the dollar currency to the status of world hegemon through establishing the petrodollar system.

“There’s more to this list than just increasing the headcount at future BRICS meetings,” Rickards emphasized, pointing out that “if Saudi Arabia and Russia are both members, you have two of the three largest energy producers under one tent (the U.S. is the other member of the energy Big Three).”

On another note, the BRICS countries make up 30 percent of the world’s surface, with 50 percent of global wheat and rice production, and 15 percent of the planet’s gold reserves. It accounts for 40 percent of the world population, 28 percent of nominal GDP (pending Saudi Arabia’s membership), and 52 percent is measured under the PPP formula.

“By every measure—population, landmass, energy output, GDP, food output, and nuclear weapons—BRICS is not just another multilateral debating society. They are a substantial and credible alternative to Western hegemony,” Rickards said.

Accordingly, when the bloc launches its new currency, it will not simply “fall on an empty field,” but be integrated “into a sophisticated network of capital and communications,” which should “greatly enhance its chances of success,” he argued.

Elsewhere in the op-ed, Rickards said that the BRICS currency is expected to be pegged to a basket of trade commodities or gold, and will likely appear in the form of a digital currency instead of paper money.

He also said that chances for success for the BRICS currency to replace the U.S. dollar will depend on the formation of an alternative to the U.S. bonds market which is seen as the safest bet to safeguard assets value.

“The key is to create a BRICS+ currency bond market in 20 or more countries at once, relying on retail investors in each country to buy the bonds. The BRICS+ bonds would be offered through banks and postal offices and other retail outlets. They would be denominated in BRICS+ currency, but investors could purchase them in local currency at market-based exchange rates. Since the currency is gold-backed it would offer an attractive store of value compared with inflation,” Rickards writes.

He added that “if the BRICS+ use a kind of Liberty Bond patriotic model, they may well be able to create international reserve assets denominated in the BRICS+ currency even in the absence of developed market support. This entire turn of events—introduction of a new gold-backed currency, rapid adoption as a payment currency, and gradual use as a reserve asset currency—will begin on August 22, 2023, after years of development.”

The collective push to replace the U.S. dollar as the world reserve currency has much to do with Washington’s “weaponization of the dollar through the use of sanctions,” Rickards writes.

Are you paying attention?

Got gold?

You’re going to wish you have some if Rickards is right!

KEEP READING and I’m going to tell you what you can do about it to protect yourself….

More on that in just a minute.

The biggest shock to the international monetary system since 1971:

A lot more in here:

https://www.youtube.com/watch?v=WuJojYDyNRQ

Ok, so now for everyone asking me what can we do about it, here are my thoughts.

First of all, it’s NOT too late!

That’s the first thing you need to understand.

It’s not too late but you need to move quickly.

You CAN protect yourself.

I’m not a financial advisor, but I always say one thing…

Don’t listen to what they TELL you to do.

(That’s the misdirection)

Just like a magician trying to keep you distracted while he hides the ball in his other hand, the Federal Reserve and all the so-called “experts” will almost always TELL you the opposite of what is sound advice.

But you should always watch what they themselves are actually doing….

So what are they doing?

Simple: buying GOLD.

Just like I’ve been telling you for the last 6 months!

Does it all make sense now?

Starting to see the plan all come into focus?

Who has been warning you?

Me!

And Bo Polny!

Take action…

👇

Here’s Why Central Banks Are Buying All the Gold They Can — And What YOU Can Do!

For the last year, central banks across the globe have been buying up as much gold (and often silver) as they can acquire without raising alarm bells. Now, we see why.

The recent bank runs and ongoing collapse of the U.S. banking system was anticipated by the “elites” and the central bankers who run things behind the scenes. They saw it coming and knew the best way to protect their assets was through physical precious metals.

If you’ve been waiting for me to bring you a solution about what YOU can do to protect yourself and you’re family, I’m happy to introduce you to something I absolutely love!

Precious metals.

I just talked about precious metals this week with Bo Polny and now I’m bringing you a solution that you can utilize right away if you’re so inclined…

A faith-driven, conservative precious metals company is currently helping Americans tap into the rising precious metals market through self-directed IRAs backed by physical precious metals. And while this service is not unique to Genesis, their adherence to Biblical stewardship of money makes them singularly qualified to receive a sponsored recommendation from this site.

Unlike most companies offering similar services, Genesis deals only with physical precious metals. They do not offer “virtual” or “paper” gold or silver.

With Genesis and their depositories, customers can see and touch the precious metals that back their retirement accounts. When it comes time to take distributions, Genesis customers can cash in some or all of their precious metals or have them delivered to their door.

Central bankers aren’t slowing down. In fact, nations like China and even U.S. states like Tennessee are quickly but quietly buying up gold to back their own treasuries. When the writing on the wall is this clear, it’s understandable why these governments are moving quickly to get ahead of any potential economic catastrophes in store.

Working with Genesis is the best way our readers can explore the physical precious metals market through self-directed IRAs. It benefits us as well when our readers work with this America-First company.

Visit genesiswlt.com or call 866-292-0443 today.

Don’t wait too long, we might have more bank failures right around the corner.

You know what has NEVER “failed”?

Gold.  Precious metals.  Indestructible.

There’s a reason they call it “God’s money”.

Watch this for more:

Don’t wait until it’s too late!


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