Originally posted by: OPA just to clarify your tabloid style headline....China purchased a vault that can hold up to 2,000 tons of gold, but not 2,000 tons of gold.
Originally posted by: ricko True... they purchased a vault.... which begs the question... What next?? Must be a purpose behind the investment...Cheers, RickO
Storage fee income? China would never store their gold in a foreign country.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
China bought JPM's big NY building which included a massive vault 80 feet below ground in 2014. Ironically (or maybe not) it is directly across the street from the FED's underground vault, also 80 feet below ground. Give you 100 to one odds there is a connecting tunnel from when the FED and JPM were moving dollars and gold back and forth.
Now the gold can move from West to East in a much more secure manner. Wonder if there are any available vaults across the street from Fort Knox?
"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
Comments
just to clarify your tabloid style headline....China purchased a vault that can hold up to 2,000 tons of gold, but not 2,000 tons of gold.
CORRECT!!!
(Is that tabloid enough?
U.S. Type Set
True... they purchased a vault.... which begs the question... What next?? Must be a purpose behind the investment...Cheers, RickO
Storage fee income? China would never store their gold in a foreign country.
Now the gold can move from West to East in a much more secure manner.
"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