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Chinese buy London Metal Exchange

CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭
in Precious Metals
linky
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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    gsa1fangsa1fan Posts: 5,566 ✭✭✭
    No one gives a rats a$$ who they sell out to!image
    Avid collector of GSA's.
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    pursuitoflibertypursuitofliberty Posts: 6,596 ✭✭✭✭✭
    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.





    “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
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    derrybderryb Posts: 36,212 ✭✭✭✭✭
    A Hong Kong exchange should create more physical delivery demand in Asia. As more physical gold continues its move to Asia, less will be available in the west. Eventually good for gold priced in western currencies.

    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."

    Give Me Liberty or Give Me Debt

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    CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭


    << <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.
    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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    derrybderryb Posts: 36,212 ✭✭✭✭✭
    and this from GoldCore:

    "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."

    Give Me Liberty or Give Me Debt

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    mrearlygoldmrearlygold Posts: 17,858 ✭✭✭
    Always good to have some cash so as to take advantage of deals.


    How much is 15.4 Trillion ,X 3 % ?

    Coin's for sale/trade.


    Tom Pilitowski
    US Rare Coin Investments
    800-624-1870

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    cohodkcohodk Posts: 18,621 ✭✭✭✭✭
    OMG!!! The Chinese are gonna own all the gold and rule the WORLD!!!


    Fine.

    We own all the energy and food and clean water and have a military to protect it.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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    derrybderryb Posts: 36,212 ✭✭✭✭✭
    image

    Give Me Liberty or Give Me Debt

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    cohodkcohodk Posts: 18,621 ✭✭✭✭✭
    What's so funny?
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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    tneigtneig Posts: 1,505 ✭✭✭
    This article said that Australia has 4 times what China has? Hummm... Things are relative.
    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. "
    COA
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    DrBusterDrBuster Posts: 5,308 ✭✭✭✭✭
    China is just swapping those tbill and euro bond dollars for shiny before things get too nuts. A billion people is a lot of folks who want a fat gold necklace with a dope dragon pendant hanging from it, takes a lot of gold.
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    derrybderryb Posts: 36,212 ✭✭✭✭✭
    Gold Bears Will Be Shanghaied:

    “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.”

    Give Me Liberty or Give Me Debt

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    TwinturboTwinturbo Posts: 493
    Who cares china needs these metals to buy their heroin and meth for their dispensable drones to keep them happy. Old news, nothing to get excited about or spread lies.
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    JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    pffftttt. MJ
    Walker Proof Digital Album
    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......
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