China announces gold holdings and it’s less than even mainstream media predicted

china-gold

 

For years China has been buying gold hand over fist, and despite being one of the biggest gold-producing nations in the world, none of it has been leaving the country. Add to this the fact that China has been snatching up depressed mining shares by the billions, and many in the alternative media have begun to speculate that China may has over 5000 tons of gold. Even Bloomberg.com speculated in an article several months ago that China has around 3000 tons. 

Until recently, the last official number released by the Chinese government in relation to their gold holdings was a supposed gold reserve of 1054 tons in 2009. After allegedly not adding to that at all, according to their official numbers, they just released new figures for their holdings, showing the number at now about 1600 tons. The interesting thing is that this 600 ton acquisition supposedly occurred during June 2015 – a month where gold prices actually declined roughly 2%. Very unlikely in the face of such a large purchase.

So where has all the gold they have been producing and allegedly buying been ending up? The most likely answer is that the figures are bogus, and designed to help ease tensions about their turbulent markets, without causing big bump in gold prices (they still want to buy more).

 

In other precious metals news, silver and gold prices head even lower as somebody sells 1.4 Billion in paper gold futures. 

 

As the global economic collapse intensifies, we are likely to see housing prices decline eventually while simultaneously seeing an increase in the cost of renting. When the global debt bubble bursts, financing for large purchases will become extremely hard to get, with rigorous requirements and high interest rates. This will cause housing prices to drop as demand for purchasing decreases because potential buyers won’t have access to credit. They will still need a place to live however, so they will have to resort to renting. This increase in the demand for rental units will push rent costs higher.

Apparently I am not the only person to anticipate this trend, as building permits for multi-unit dwellings has soared the most in over 20 years. 

The Lord Humungus
The Lord Humungus rules the wasteland

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