20 November 2015

Shanghai Gold Exchange Withdrawals of 49 Tonnes in the Latest Week

There were about 49 tonnes, or 1,575,000 troy ounces, of gold delivered from Shanghai in the latest week.

No matter what the pundits say about 'gold bugs' and all that sort of nonsensical disparagement, the central banks of the world have been net buyers of gold since about 2007, and the major countries of The Silk Road are buying gold bullion by the tonne each and every week.

Are they all unenlightened idiots? Goldbugs?

Bloomberg seems to imply that they are.  China Savers Turn To Gold As 'Rest of World' Exits

Are the central bankers of the world fools and dupes?

Or are we being misled by the global Banks?    Hard to believe, right?

Gold bullion is moving from West to East.

It is Gresham's Law in action.  

And they are dissembling, most likely to save a couple of the Banks once again and support a policy error that is both wrong-headed and unsustainable.