TSX:LSG.DB - Post by User
Post by
jackUrshareson Jan 22, 2014 10:07pm
273 Views
Post# 22123368
China's gold reserves spikes but not as high as expected
China's gold reserves spikes but not as high as expected
My deep thoughts as of late,
There were stories back in 2009 and 2012 about laced gold bars with tungsten cores. Do you think that China has been melting these bars down to 1kilobars because the 400ounce bars are in large part tungsten. And to follow on with that thought because China may have discovered this they forced the Bullion banks to supply the proper quantity of gold for which they had paid with the promise to keep quiet about it. This would explain why China's official gold reserves only went up to 2700tons when the numbers indicated that after 5 years it should be much much higher.
Point being the US gold reserve of 8000 tons when melted down to make it pure might have only been 3-4ktons at best?! And what does that really say about the quantity of paper market non existing gold and the physical gold in circulation that might be just a make-up plating(lipstick on a pig of tungsten).
The background thought of the tungsten laced bars was when the US was on the gold standard they had to lace their gold bars stored in fort knox to justify the US $ strength when printing more money into circulation.