Interesting article, DFL. Some years ago I looked closely at reported Chinese Au holdings. What I found (from memory) is that they had more than one "entity" holding Au but only reported holdings by one. Even at that time it was abundantly clear that they were under-reporting. I did some back of envelope calcs (much like Kevin Rudd's back of napkin calculations on the 2.7b dollar home insulation scheme - just thought I would add that in ) about purchase of Au and production, etc and gave up - did not add up.
I suspect though that we will see a massive increase in POG once people realise the implications of the shenanigans we have played with Ruskie assets and the grossly stoopid sanctions on a super power. Make no mistake, relationships that the world has relied on based on trust, are gone forever. There is no going back. The PMs will become increasingly important and their price will "explode" IMO.
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) about purchase of Au and production, etc and gave up - did not add up.
(20min delay)