thailand buys 45 tonnes of gold

Today, the gold cartel are really in trouble as every short that they have executed is now underwater.

The battle royale will commence tomorrow as the specs pile on and the cartel members supply unbacked paper in an attempt
to quell demand.


I must comment on a report from the respected John Brimelow. From Thailand's official website, they reported that

the country imported a massive 55.4 Billion Thai Baht worth of gold (1.8 million usa dollars). This equates to 45 tonnes of gold.

If this is true, gold will experience another Viagra effect.

You must wonder why this nation did not enter any bids to the IMF. Maybe they knew there was no real gold only paper gold?


Here is the report from John Brimelow:


The FT has produced an interesting story reporting a massive acceleration of gold imports into Thailand:

According to some numbers buried in the Thai customs website, gold imports in July, the latest month for which data is available, hit Bt55.4bn ($1.8bn), which is equivalent to a bit less than 45 tonnes and more than 13 times June imports of Bt4.1bn ($130m). ..

the numbers have got tongues wagging in Bangkok - and one player keeps being mentioned: the central bank, the Bank of Thailand.

The Thai Baht is up 8.4% this year against the $US, a 13-year high. If true, 45 tonnes is big news. However, one wonders why the IMF was not bid.

http://harveyorgan.blogspot.com/