Loading ...China Extends Aggressive Gold Buying With Another 30 Tons Purchase In December
One week ago, in his latest – and arguably most important note of 2022 – Credit Suisse repo guru Zoltan Pozsar discussed the two key anchors of the Bretton Woods III regime he believes will replace the world in which the dollar is a reserve currency: i) commodity encumbrance (i.e., rehypothecation) and ii) the Petroyuan, and – intertwined in between them – China’s aggressive accumulation of gold.
This was hardly a coincidence: just a few weeks earlier, we learned that for the first time in years, China had bought 32 tons of gold in the month of November, its first official purchase since September 2018