Chinese buy London Metal Exchange
CaptHenway
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Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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I knew it was up for the vote, and heard it was going to happen, but not sure what my whole take on it is yet.
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management group, declared July 23rd: "“We are moving toward a fundamental shortage of gold, and I believe it may start as soon as next month. I think the bottom is being put in right now."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Do you have any thoughts that you'd share on this Capt?
I knew it was up for the vote, and heard it was going to happen, but not sure what my whole take on it is yet. >>
My first thought is that the demand for physical gold may increase.
"In Hong Kong they are completing work on its largest gold vault due to open in September which can hold 22% of the gold that is in the US facility Fort Knox.
The new secure storage facility will compete with services set up by the Airport Authority Hong Kong in 2009 that serviced governments, commodity exchanges, bullion banks, refiners, wealthy individuals and exchange-traded funds.
The new facility is within the international airport compound and its capacity is 1,000 metric tons.
This signals the growing interest from China currently the world’s second largest consumer of gold in owning physical gold bullion."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
How much is 15.4 Trillion ,X 3 % ?
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Fine.
We own all the energy and food and clean water and have a military to protect it.
Knowledge is the enemy of fear
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Knowledge is the enemy of fear
China buying a lot which is good for gold holders, but they don't have as much.. Hah, do we have to worry about Australia, mate?
Kingworld article Linky
"China mined a total of 355 tons, which was by far the largest amount of gold mined for any country. And yet they are still buying every single available ounce they can get in the open market. Australia was second with 270 tons. Keep in mind that Australia has 4 times the reserves that China has. "
“China’s underlying financial policy is to sideline the U.S. dollar and build its domestic metals inventories, notably of gold and silver and using these to replace its huge dollar surpluses while prices are cheap.”
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......