New Found Gold Corp V.NFG

Hey Dan,

[Evenkeel123]

While I will agree that China likely has more gold then they advertise, that guy in your video doesn't even specify what kind of weight he is talking about,   Is he talking about metric tons, or short toms?

I live when people try to get their 15 minutes of fame based on nonsense.  Nobody, and I mean nobody, has a clue as to how much gold China has because all the gold they mine becomes state property plus what they buy from everywhere else.

Here are the statistics from the Federal Reserve.  Most of the gold in the USA is not in Fort Knox.
It is underground in New York, FYI

EK

Most of the world's gold is stored in the underground vaults of the Federal Reserve Bank of New York, which is located in Lower Manhattan: 

• Size

  The vault is the world's largest gold storage reserve, containing approximately 507,000 gold bars weighing about 6,331 metric tons as of 2024. 
• Location

  The vault is 80 feet below street level and 50 feet below sea level, resting on the bedrock of Manhattan Island. 
• Security

  The vault is built into the fortress-like Federal Reserve Building, which was completed in 1924. The vault has two parts, the "Main" vault and the "Auxiliary" vault, which opened in 1963. 
• Ownership

  The Federal Reserve does not own the gold, but acts as a custodian for gold owned by other entities. Nearly 98% of the gold in the vault is owned by central banks from 36 foreign nations. 
• Storage

  The gold is stacked in compartments, each secured by a padlock, two combination locks, and an auditor's seal. 
• Fees

  The Fed does not charge to hold gold, but there is a small fee for moving or shipping

[GoldenOrb]

You really believe this financial rag hogwash, primed for the general public?  Nonsense, public fodder, yet the numbers have definitely convinced you. 

[bows333]

I do recall reading, 15 years ago, that China was mining gold from mines that had an estimated break even cost of $2200 per ounce. I believe gold was $700ish at the time. It does not appear that they really care what the price is. My coun dealer, years ago, stated that he had to put in his website that he would not ship to China; they were draining every product that he had.