Do we witness the first chapter of The Financial War with China and Russia cornering the U.S. with the threat of dumping U.S. Treasuries?
ZeroHedge reports Iran Deal Fact Sheet and among other provisions certain sanctions on Gold and precious metals will be suspended. Will it bring more stability to the region and provide less excuses to stimulate the economy starting another war? Is this the turning point for the infamous "plan to liberate" seven countries in the Middle East? It all remain to be seen, including reactions from Israel and Saudi Arabia. Now the recent bombshell announcement from China: PBOC Says No Longer in China's Interest to Increase Reserves. - can be taken into the new light of this development. Are US Treasury holders already using their economic power in the Financial War following after The Currency Wars?
We will be monitoring the implications for the Gold market next week following this development and after the groundbreaking announcements from China.
Jim Rickards was twitting about his take on this deal:
As expected, the U.S.-Iran nuke deal gives#Iran the right to buy#gold again.#BackUpTheTruck
Peter Schiff: On Taper, China's Bombshell Announcements For Treasuries, Dollar And Gold GLD, MUX, TNR.v, GDX
"Peter Schiff talks about the bombshell of the year - China has announced the Mother Of All Tapering - PBOC Says No Longer in China's Interest to Increase Reserves. China is ready to reduce its balance sheet and they do not have to sell any US Treasuries - during the operation Twist they have used the golden opportunity and rolled over the long term treasuries into the shorter maturities. China can just allow US to repay maturing US Treasuries. We do not think here that they will accept Bitcoin. They have made this announcement after the record buying of Gold and some people are estimating that official Gold reserves are much higher than officially recognised today."
ZeroHedge:
White House Releases Iran Deal Fact Sheet - President Obama To Speak
The White House has released their (lengthy) fact sheet...
"During the six-month initial phase, the P5+1 will negotiate the contours of a comprehensive solution... Over the next six months, we will determine whether there is a solution that gives us sufficient confidence that the Iranian program is peaceful. If Iran cannot address our concerns, we are prepared to increase sanctions and pressure.Suspend certain sanctions on gold and precious metals, Iran’s auto sector, and Iran’s petrochemical exports, potentially providing Iran approximately $1.5 billion in revenue
Israelis, Saudis, and Republicans are already questioning the decision..."
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