I was watching a Chinese financial show here the other day. Let me provide
you a loose translation:
Host: Why Dumbs ass American buy paper gold? They think real?
Guest: Dumb ass American very stupid. They buy and sell paper gold, we just
buy real stuff. Some day they wake up…no more real gold to buy. Their
gold ticket worth nothing. Willie Wonka default on the golden ticket.
Gold ETF no pay.
Host: American government no bail out?
Guest: Yes, bail out for bank but not stupid little people. American not know.
American now make nothing, only consume. Not know difference between
paper and real. American now only make porno films and autistic kids.
Get poorer and poorer.
Host: Thank for being on show.
(Bumper Music: Dire Straights….I want my EBT…Money for nothing and your chics for free)
Does China report its gold import from cities other than Hong Kong?
In other words, does China have other routes to import its gold beside Hong Kong? (I tried to look for reports about its gold import from Shanghai, Tianjin, etc… but I couldn’t find reports.)
Knowing that China bans its gold export, I am interesting to see that how much China want to increase its gold reserve. Here in South Korea, many people in the mainstream news media and numerous financial analysts as well as top policy makers (including the governor of South Korea’s central bank) think that gold and silver are not being manipulated and accuse people, who try to inform people about this gold/silver price manipulation, for promoting “conspiracy.”
Hi Jerome-
From my understanding, Hong Kong is the only hub of gold imports.
But….we know China has access to obtain gold through unofficial channels.
For instance, sov. wealth funds, large commercial banks, etc…
Every few years or so they all of a sudden announce a huge increase in reserves.
Hi,
An African investor told me every now and then Chinese Navy ships will dock in a friendly Afrcan port, offloading miltary supplies and load up the physical gold. This lends great weight to what MrCollins has said in his comment.
Ali
Very interesting Ali! That is logically a good backdoor for China to build its gold reserves. That would be a direct government to government transaction , military supplies for gold. Would be totally off the books. Any more information you can get on this would be helpful.
Buy more Gold Mines China ..1000 mines sounds Good!