Every smack-down plays into the hands of Eastern buying countries. Long term it guarantees less gold is mined. It's a future of constrained supply and dwindling availability. Physical Supply is already tight. It's a buyers dream.
China will wrest control of the GP from the West sooner or later. The West's hypocritical and contradictory position re gold is not ultimately sustainable as it is just not believable.
The official U.S. Line is that gold isn't money and it's just a useless commodity, but it continues to mint gold coins in contradiction of that. Coins were designed as a medium of exchange! why mint coinage if they intend no role for it other than for collectors?
The U.S. Claims to still hold more than 8,000 tonnes of the yellow metal they claim to revile. What for? Just another aspect of their contradictory position. The fact that they refuse to confirm its existence can be taken as evidence that much of it has gone. It's impossible to have confidence in what they say.
It's no wonder that the BRICS countries have had enough of this stupidity. they are positioning for the next inevitable economic collapse, when the West will hand them the balance of economic power, made possible by physical gold.
23.
