Saturday, March 22, 2014

How China Imported A Record $70 Billion In Physical Gold Without Sending The Price Of Gold Soaring

Western central banks, governments, and bullion banks are not the only cartels who desire lower precious metals prices, as a means to mask the institutionalized counterfeiting of sovereign fiat currencies.  The Chinese also want manufactured lower paper gold prices so they can buy physical bullion at discounted prices.  Once they are content with their grab bag, they will be happy to see rising gold prices as a hedge against their increasingly worthless portfolio of US Treasury bonds.

Many gold bugs blame the Fed, ECB, and other central banks, as well as the bullion banks acting as agents for the central banks in the precious metals price suppression scheme.  I've posited the Chinese are just as happy to hoard gold at lower prices.  Indians and Chinese have a history of gold ownership--dating back many centuries, and the newly acquired gold will never see the light of day.

The US and Europe are literally bankrupting their economies with every gold bar being transferred from western vaults to eastern vaults--via Swiss refiners.

Asians have the innate sense of what corrupt and insolvent governments will do to combat budget deficits and government largesse:  print more paper currencies.

No comments:

Post a Comment