HiSlangeandAll,
Ialsonoticed thelackof enthusiasmfromtheBBCregardingthebigwinsforNigelFargaeand hisreformparty. However,anyonewithactivebraincellsknowsbetterthantotrustany singlesourceofinformationifonewishestostayaheadofthegame. Personally,IthinkNigelwill givethe currentcomedianarunforhismoneyatthenextgeneralelection. In fact,Ibelievehecouldwellbethenextoccupant ofTenDowningStreet.
BelowisanowslightlydatedvideocliponChinabuyingGold. Thebiggest statementthatdatesthisclipisthefactofsomeofthebigUSnamedtradinghousesarepredictedGoldcouldsurpassUS $3,000.00overthenextfewyears!!!
WhilstChinaiswellbehindtheUSAforGoldreserves(IfthereinFortKnox)itisinteresting theirincreasing percentageofGoldintheiroverallreserves. In2019priortoCovidtheirgoldholdingrepresentedatadunder3%oftotalreservesnowin2025Goldrepresentssome5.9%oftheirtotalreserves. AdoublinginGoldheld inreserves in5-6yearsissignificantinmyhumbleopinion.
Iftheymaintainoracceleratetheir increasingofGoldasapercentageoftheirtotalreserves, thenwemayexpectmorefireworksinthefuture.
IcannotseewhytheChinesewouldcontinueyoutopurchaseandholdUStreasuries underthecurrenttariff actionfromtheWhiteHousereplacingthesewithphysicalGoldmakessensetome.
WhyChina is Buying So Much Gold Reserves
Hereisalinktoa2017AlibabafounderJackMainterviewpointingoutthatChinaisnotstealingjobs.ThetruthismanyofthelargestUSAmanufacturersbroketheirneckstooutsourcetheirproductiontolowercostcenter'sincludingofcourseChina.Interestinglyhealsomentions(2017)anyfuturetariff warsbetweenChina andtheUSAwouldbesodestructivetoallparties.
Hi,Skol, nowthat’sanaccidentalpredictionIonlymentionthatbecauseIdon’tthinkyouwouldrecogniseonegivenyourhistory aroundhere!
Alibabafounder Jack Ma: China isn’t stealing jobs, it’s creating jobs
OvertheweekendIwatchedthisJeffreySachsinterviewaboutChina’sbeltandroadinitiative.Ifounditinteresting.Personally,IreallythinkAustraliamissedagreatopportunity bynotsigninguptothisschemewhentheyhadtheoption.Probably justanothersymptomofthe Canberratroughfeeder towingUncleSam'slineasavassalstate.
AsJackMapointedouttheUSAmadelotsofmoney/profitsfromhavingtheirgoodsproducedinChina.Hadthesevastprofitsbeenploughed backintoUSresearchandinfrastructureinstead ofbeingwasted oncountlessunproductivewarsperhapsmakingAmericagreatagainwould notbesuchadauntingtask.
JeffreySachs REVEALS TRUTH About China's Belt and Road
ThequestionIposedyesterday:“ Will Chinacomebacktothe Gold marketwithabankaftertheirbreak?”
Lookingatthechartat11:00AMGMTmyguesswouldbeyes;however, wewill have abetterideaonceyouguysareupoutofbedandenjoyingyourcornflakes!
Cheers