Goldtent TA Paradise

China Secretly Buying Up Massive Amounts Of Gold, 10x More Than Officially Reported: Goldman

1. Columbia says:

   December 18, 2024 - 9:26 am at 9:26 am

   We may never know the true amount that China holds.
   As many countries up their purchase of Gold, we must ask why?

   Currency is loaned into existence. What happens as countries default on their debt. Gold held by you has no counterparty risk.
   Sure the price fluctuates against currencies but my faith is in Gold. I believe it will be the transition between one currency and the next iteration. The transfer vehicle.

   Neither Trump nor Poilievre will be able to stop what is coming. It is the natural death of the currency. We are beyond the tipping point. I have no idea what will happen to the pensions of the largest demographic in our lifetime, the Boomers. it is not sustainable.

   My inbox is filled with increasingly desperate fliers from some of the big retailers. I keep them coming just for information, I buy nothing unless I am replacing something that broke and can not be fixed.

   You will be disappointed if you believe things will go back to the way they were 5 years ago.

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   • Kewl2 says:

     December 18, 2024 - 10:24 am at 10:24 am

     IF the US has rehypothecated much or all of it’s physical gold reserves (ie an empty Fort Knox) than it would be difficult to support initiation of a “new” gold back monetary system to fix the errors caused in 1972. Instead we appear to be witnessing a “hail-Mary” effort to convince the public to switch from fiat to a digital blockchain system – frankly what else can you do IF your gold is gone? Gold usage would be contained into mainly a sovereign Tier One asset thus dampening down demand and price. Such a move could minimizing the monetary power of US perceived adversaries – including Russia & China.

     As US Gold Reserves have NEVER been audited, there is no way to definitively state whether that the reserves still exist or have been stolen over decades via rehypothecation. Either side of this scenario could be accurate, with citizens forced to blindly trust that whatever their governments say is the truth (similar to COVID).

     Trump “appears” to be positioning for a move away from fiat (dying currency) into a digital currency solution (note he does NOT use the word Bitcoin – digital could also be CBDC). To be successful, he needs the world to buy into the “value” of a financial instrument that offers no collateral.

     It is, however, a strategy that defers a natural revaluation of gold required to stabilize sovereign insolvency in order to “buy-time” to keep hegemony intact.

     Will the world buy what is being sold this time?

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2. Chartsmaster says:

   December 18, 2024 - 10:24 am at 10:24 am

   Things never go back, they only go forward and usually not in a good way.

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3. Columbia says:

   December 18, 2024 - 11:26 am at 11:26 am

   I am anticipating a short-term drop lower from here in Au and Ag. Appears to be blowing through my support lines today.
   In the West, they are out of favour so the paper contracts rule the day.
   How low is anyone’s guess.

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