In discord and rhyme
--Duran Duran
Chinese demand for physical gold has been increasing. Historically, it has consistently outpaced COMEX physical delivery of gold--by orders of magnitude.
Over the past couple of years, however, Chinese appetite for physical is such that it is inhaling gold at a rate that approaches annual world production.
What might China know?
position in gold
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1 comment:
We have at this particular stage a fiat money which is essentially money printed by a government and it’s usually a central bank which is authorized to do so. Some mechanism has got to be in place that restricts the amount of money which is produced, either a gold standard or a currency board, because unless you do that all of history suggest that inflation will take hold with very deleterious effects on economic activity… There are numbers of us, myself included, who strongly believe that we did very well in the 1870 to 1914 period with an international gold standard.
~Alan Greenspan, January 2011
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