The People’s Bank of China (PBoC) continues to buy unprecedented amounts of gold as the global financial is deleveraging (i.e. investors exchange credit assets for gold).
Alasdair MacLeod estimates China reserves are even higher as they produce gold but don't export and store gold with other institutions such as the PLA.
Something seems amiss. There is talk about all this gold being acquired by central banks and China - where is this a bundance of metal coming from? One might think there are underground tunnels lined with gold and retrieved as needed
On the other hand, silver demand for physical is scarce. The last handful of years shows a supply deficit for silver where industry needs more and more each year of the limited mining production.
We also know China does not share information on their silver mining operations or what is acquired, under the table so to speak, from other countries..
So help me understand how silver is valued so low when it is a much smaller market (quantity wise) when it comes to physical availability.
So if gold is that plentiful and silver is that scarce have we been whoodoo'd as to the amount available because a small select group of bullion banks control ETF paper silver to the tune of about 370 to every 1 physical Troy ounce if silver. I would say that is leverage to control the much smaller silver market.
When the game of musical chairs ends, those 370 to 1 odds will be a startling kick in the teeth to those ETF paper holders. Is the physical silver quantity much smaller than we are led to believe?
I have always said whatever China disclose they have; double it!
You have to love the Pareto Principle. 80% of all CBs differences accounts for 20% of the lies?
Or is it the other way round?
What will the outcome of the USA Gold Audit? If it turns out USA has less than circa 5,000 Tonnes the Chinese surely have, "Bonkers Scenario" appears - where the inevitable revaluation is done by whom? In tandem with who? M&A in not Company shares, but Physical Bullion!
Alasdair MacLeod estimates China reserves are even higher as they produce gold but don't export and store gold with other institutions such as the PLA.
The people running China are not nice people. They are not good people. But they are wise.
Something seems amiss. There is talk about all this gold being acquired by central banks and China - where is this a bundance of metal coming from? One might think there are underground tunnels lined with gold and retrieved as needed
On the other hand, silver demand for physical is scarce. The last handful of years shows a supply deficit for silver where industry needs more and more each year of the limited mining production.
We also know China does not share information on their silver mining operations or what is acquired, under the table so to speak, from other countries..
So help me understand how silver is valued so low when it is a much smaller market (quantity wise) when it comes to physical availability.
So if gold is that plentiful and silver is that scarce have we been whoodoo'd as to the amount available because a small select group of bullion banks control ETF paper silver to the tune of about 370 to every 1 physical Troy ounce if silver. I would say that is leverage to control the much smaller silver market.
When the game of musical chairs ends, those 370 to 1 odds will be a startling kick in the teeth to those ETF paper holders. Is the physical silver quantity much smaller than we are led to believe?
You be the judge.
I wish you well.
I have always said whatever China disclose they have; double it!
You have to love the Pareto Principle. 80% of all CBs differences accounts for 20% of the lies?
Or is it the other way round?
What will the outcome of the USA Gold Audit? If it turns out USA has less than circa 5,000 Tonnes the Chinese surely have, "Bonkers Scenario" appears - where the inevitable revaluation is done by whom? In tandem with who? M&A in not Company shares, but Physical Bullion!
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