Russia is moving to replace the LBMA, which some call “The paper gold casino in London,” with a true physical gold exchange in the East as Putin prepares for the West’s financial system to collapse.
Major Developments In Asia
September 7 (King World News) – Alasdair Macleod, based in London: As King World News readers are aware, there are major currency developments afoot in Asia, but I don’t think the importance of these developments have been sufficiently noted.
I refer specifically to two separate developments. The first is the new proposed trade currency for members of the Eurasian Economic Union, which includes Russia, Belarus, Kazakhstan, Kyrgyzstan, and Armenia. The idea is that trade between these nations, and any other Asian nation that wants to join in, will be settled with a new trade currency, replacing the dollar. Looking at the available information, it is hard not to conclude that this is a Trojan horse for something bigger…
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Russia Moves To Replace LBMA’s “Paper Gold Casino”…
Separately, we hear from Moscow that plans are afoot for a new physical-based gold exchange to challenge the LBMA, which in accordance with NATO sanctions has suspended membership of Russian banks and refiners. This new Moscow World Standard is being promoted as a response to the LBMA’s action.
…As Putin Prepares For West’s Financial System To Collapse
However, these developments are coincidental at a time of rapidly escalating financial tensions between Russia and the West. Furthermore, with interest rates rising and banks being highly leveraged, a banking crisis leading to a central bank bailout of the entire western financial system is a real possibility. In fact, it seems difficult to avoid.
That being the case, it would be complacent to look at the new EAEU trade currency and the Moscow World Standard for gold as coincidental. I conclude that putting the two together is a plan for Russia and its close allies to prepare for a gold standard for participating currencies. It would protect them against the almost certain failure of the West’s financial system and the consequential collapse of the dollar and the fiat currencies tied to it.
“Lehman Moment?” European Energy Margin Calls $1.5 To $3+ Trillion
Art Cashin, Head of Floor Operations at UBS: Overnight, we are seeing a 24-year high in the dollar against the Japanese yen and a 20- year high against the euro and further highs against the English pound and that presents a bit of a complication as they just got a new Prime Minister there.
…Bitcoin is trading below $19,000, but so far is giving no hint of freefall, but nonetheless, that will draw traders attention. As you will recall, there has been concern about some structural problems within the cryptocurrencies and, the fear is, that if we break down through $18,000 or even $17,000, if selling accelerated, there would be a problem.
Speaking of structural concerns, there are reports that there are unfilled margin calls in European energy trading. Depending on which rumor you listen to, they range from 1.5 trillion to over 3 trillion. That will also be on traders’ minds.
…All in all, as I say, it is kind of a conflicting and confusing morning. The main story is the structural concerns as there is even talk of a “Lehman moment” and that has put a strong bid under the dollar and helped bring bond yields down. Should the bond yields move back up again, the bulls will have to fight to hold onto some of these plus ticks.
…You know the drill. Stay close to the newsticker, especially this morning and keep your seatbelt fastened. Remain nimble, alert and try to stay safe.
In case you missed it…
Another Big Acquisition
Michael Gentile: I’m very pleased to share that today Northern Superior (SUP) has further consolidated its position as the premier gold exploration company in Chapais Chibougamau, QC with the acquisition of Royal Fox Gold (FOXG).
Creating the Dominant Player in Chapais Chibougamau Gold Camp
This acquisition Cements SUP as the dominant player in the Chapais Gold Camp with the largest land position in the camp at over 62,000 hectares, 4 large and expanding gold deposits (Croteau Est, Chevrier, Lac Surprise and now Philibert)
With Croteau, Chevrier existing resources and now Lac Surprise and now Philibert moving towards a resource declaration in 2023 one can see line of sight to potentially 4mm + oz in the near term with all 4 properties having significant exploration upside potential beyond that number.
This acquisition and the prior acquisition of Genesis Metals in June brings a critical mass of resources in a concentrated area which dramatically increases the chance of economic development of these oz and their potential value as all these 4 deposits lie within a 50km radius and are adjacent to the 3.2 million oz Nelligan Deposit owned by IAMGOLD.
This large gold endowment was controlled by 4 seperate companies only 4 months ago and today is now controlled by only 2. This means that potentially 7mm oz or more of Gold are now highly consolidated in a contiguous area.
Extremely Rare Combination
This will create an extremely rare combination of a consolidated mining camp with emerging economic scale in a Tier 1 jurisdiction, coupled with a strong geological and capital markets team.
Pro Forma for this transaction we will see Significant Insider and Board ownership of over 20% pro forma for this transaction creating strong alignment with shareholders.
Well Funded And Undervalued
Pro Forma Entrepresive Value of approximately $60 million CAD which in comparison to the resource and size potential looks very attractively valued, if you now believe as I do that this consolidation has dramatically increased the economic value of these oz and the likelihood that these oz now become part of an economic mine plan at some point in time then the likelihood of a major re-rating on the value of these oz has dramatically increased.
Well funded with pro forma cash of $8 million.
Catalyst rich story going forward
Significant upcoming drill programs at Philbert, Lac Surprise and Croteau Est in fall /winter.
Large scale prospecting programs completed on Croteau, Lac Surprise and Wapistan with results pending on all 3 properties.
Additional drill results pending from Philibert.
Potential initial resource declarations on Lac Surprise and Philibert in 2023.
Potential spin out of TPK and Ontario properties.
Additional consolidation opportunities in the camp
In short, I could not be more excited about this combination and the rapid consolidation of the Chapais Chibougamau Gold Camp achieved by Northern Superior, I see significant potential for a dramatic re-rating in the stock as the market understands the size and scale of the resources already uncovered at all 4 properties and the increasing likelihood that the size and scale required for an economic development of the Chapais Gold camp is rapidly coming into view. Northern Superior Resources, symbol SUP in Canada and NSUPF in the US. To learn more about this exciting company CLICK HERE.
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A Terrifying Wild Card
To listen to Gerald Celente discuss the terrifying wildcard facing the world today, gold, silver and much more CLICK HERE OR ON THE IMAGE BELOW.
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