Thursday, March 29, 2012

Countries Swapping Billions & Transferring Oil Ahead of War

With gold and silver surging higher recently, today King World News interviewed 40 year veteran, Robert Fitzwilson. Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the Unites States. He told King World News that countries are engaging in currency swaps out of fear of being cutoff from international transfers. Fitzwilson also said gold and silver are getting ready for a major move.

But first, here is what Fitzwilson had to say about recent developments: “Another development that’s been happening in recent days is swaps are being made. China and Australia just recently completed a $31 billion swap of their currencies. To me that’s tantamount to barter. These countries have essentially pre-positioned their currencies, probably because they are worried about being cutoff from international transfers.”

“Jim Sinclair has pointed out what is taking place with the SWIFT system. I would just like to add that SWIFT has now become a weapon in the currency wars and as Sinclair correctly stated, unfortunately the United States is now threatening other countries. We are saying if they do not do what we want, we will cut them off from SWIFT, which will effectively shut down their economy.

We have already seen this with Iran, so India and Iran were trying to do an oil for gold swap. Evidently we’ve warned the Indians because we’re not happy about that. So SWIFT is being used to threaten our trading partners and allies.... Read More