London Trader - China Bought Massive Amount of Gold Today

The bullion banks are manipulating down the price of gold with their paper trading schemes, but this only aids buyers in Asia, as they buy the physical bullion at lower prices.  By scalping short-term profits, the bullion banks are just accelerating the depletion of physical inventory, auguring in an upside explosion in price later on.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/10/21_London_Trader_-_China_Bought_Massive_Amount_of_Gold_Today.html

“The price discount in gold is the most welcome thing to the entire Eastern Hemisphere.  The Chinese are buying very relentlessly because they know what is going to happen.  We had a major, major physical buy order today.  The Chinese bought a massive amount of physical today at the lows.”

“They (the Asians) are aware of how tight physical supply is and they buy in London towards the fix because they know there is an 80% chance the commercials will take it down and they will get a better price.  The Asians sit there and say, ‘Bring it on because we’ve got some orders to fill.’  They just want out of their dollars.

Unbelievably this is part of a continued transfer of wealth from the West to the East.  While our central planners try to figure out how to keep the broken system functioning, the cost to the West is we keep emptying our vaults of gold and shipping it to the vaults in the East.