Last week 54.2 tons of Gold were withdrawn from the Shanghai Gold Exchange (SGE) and went into China.- Since 2009 ~9,030 tons of Gold are 'known' to have been withdrawn from the SGE and set into China. That is 290,320,000 ounces of Gold just since 2009. Compare that to the 261,498,926 total ounces of Gold 'claimed' as held by the US. (Who knows for sure? There hasn't really been ANY inventory done in my lifetime. It's sure a good thing the USG never lies about aything!) And it's not just the Chinese.- Since 2009 Russia is 'known' to have acquired 7,247 tons of Gold. There is a paradigm shift afoot, and the old maxim "he who owns the Gold makes the rules" looks to be a very large part of this change.
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1 comment:
Of course, the red Chinese are in big financial trouble, too.
Building all those Potemkin cities to keep that 9% GDP going only lasts so far.
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