I get the impression; the elites (and sovereign countries) are still slowly but surely filling up their gold positions at historically low prices (in real terms). Everyone can join the dots. When the elites have had their fill, it will likely be a case of ...
"Way hay and up she rises... so early in the morning."
Ironically these lyrics are pulled from the classic song - "What shall we do with a drunken sailor?" and against the backdrop of a world drunk on debt.
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