India Aims to Restrict Gold Imports As China Doubles Previous Gold Import Record in March!

May 8, 2013 By 3 Comments

China Gold June Imports_0Gold imports by China from Hong Kong more than doubled to an all-time high in March as buyers underscored increased bullion demand in the world’s second-largest economy. This demand was fuelled no doubt by the record fall in the gold price on April 12th.

Mainland buyers purchased 223,519 kilograms (223.52 metric tons), including scrap, compared with 97,106 kilograms in February, according to Hong Kong government data. If this buying trend continues the Chinese look set to break all previous gold consumption records. [Read more...]

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Turkey’s Silver Imports Surge 31% and Gold Imports Climb to 8 Month High

April 3, 2013 By 5 Comments

Physical gold and silver demand remains robust in many markets internationally. Demand from the Middle East remains robust as seen in the near record imports of gold and silver into Turkey. Turkey’s gold imports climbed to an eight-month high in March as prices averaged the lowest since May, according to the Istanbul Gold Exchange. Silver imports rose 31% from a month earlier according to Bloomberg. Gold imports increased to 18.26 metric tons, the most since July. That’s up from 17.34 tons in February and compared with 2.91 tons a year earlier, data on the exchange’s website show. The country shipped in 120.8 tons last year. Turkey was the fourth-biggest gold consumer in 2012, according to the London-based World Gold Council. Bullion averaged $1,593.62 an ounce last month and is trading about 17% below the record nominal high of $1,921.15 set in September 2011. [Read more...]

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China’s $3.3 Trillion FX Reserves Could Buy All World’s Gold Twice

March 4, 2013 By 4 Comments

China’s foreign currency reserves have surged more than 700% since 2004 and are now enough to buy every central bank’s official gold supply — twice. The Bloomberg CHART OF THE DAY shows how China’s foreign reserves surpassed the value of all official bullion holdings in January 2004 and rose to $3.3 trillion at the end of 2012. The price of gold has failed to keep pace with the surge in the value of Chinese and global foreign exchange holdings. Gold has increased just 263% from 2004 through to February 28, with the registered volume little changed, according to data based on International Monetary Fund and World Gold Council figures. By comparison, China’s reserves rose 721% through 2012, while the combined total among Brazil, Russia and India rose about 400% to $1.1 trillion. [Read more...]

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Eric Sprott: Real 2012 US Deficit $6.9 Trillion- Not Reported Anywhere By The Public Press!

February 24, 2013 By 25 Comments

sprottIn the midst of the latest epic cartel paper gold and silver raid this week, legendary precious metals expert Eric Sprott sat down with The Doc for an exclusive, MUST LISTEN interview. 
In one of his best and most shocking interviews ever, Eric discusses the latest gold and silver raid, his take on the platinum & palladium markets, the Bundesbank’s recent gold repatriation request and the correlation with massive physical gold buying in Asia, and his view on how the endgame of the Western financial/ debt crisis will play out.

Sprott stated that the Treasury Department’s 2012 GAAP budget deficit report was an astonishing $6.9 Trillion, and this has not been reported in 1 single major news outlet!  He also stated that the US government may be exporting German gold from the NY Fed to China, and that despite their recent apparent success, he expects that one day soon the cartel will be brought to their knees simply by traders standing for delivery of physical metal.

Eric Sprott’s full MUST LISTEN audio interview with The Doc is below: [Read more...]

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Eric Sprott: The US Gov’t May Be Exporting German Gold to China!

February 22, 2013 By 37 Comments

sprottLegendary precious metals expert Eric Sprott sat down with The Doc for an exclusive interview to discuss the Bundesbank’s gold repatriation request last month, and the correlation with massive physical gold buying in Asia. 

Eric pointed out that the US government exported 30% of US annual gold production to Hong Kong in December alone, and stated that as there is no excess gold available in the US, all of his analysis suggests that the US gov’t may be exporting the German, Dutch, & Austrian gold reserves held at the NY Fed to China in an attempt to kick the can and forestall the inevitable financial collapse a little longer.

Eric Sprott’s Shocking interview with The Doc is below: [Read more...]

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Private US Gold is Flooding East As US Gold Exports Rise 43% in December!

February 11, 2013 By 17 Comments

Reuters reports that US gold exports in December were the highest monthly totals since Sept 2011, up a massive 43% month over month. An astonishing 1/2 of all US Gold exports in December reportedly  were shipped to Hong Kong!

We are watching real US wealth flow straight to China in exchange for a few more months of normalcy bias can kicking.
[Read more...]

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China’s Gold Imports From Hong Kong Double To New Record 835 Tons In 2012

February 5, 2013 By 3 Comments

China Gold June Imports_0Gold imports into mainland China from Hong Kong almost doubled to new high in 2012 as Chinese people continue to play catch up in terms of gold ownership. The Chinese were forbidden from owning gold for over 50 years.  Rising incomes, economic jitters and concerns about currency debasement and inflation in the world’s second largest economy led to increased demand in China which contributed to gold seeing another year of gains.  The very poor performance of the Chinese stock market in the last 10 years (see chart below) and concerns about property bubbles are also leading Chinese investors and savers to diversify into gold.

Mainland China imported a whopping 834,502 kilograms or 834.5 metric tons of gold, including scrap and coins in 2012.  This compared with about 431,215 kilograms or 431.2 metric tons in 2011, according to Bloomberg calculations based on data from the Census and Statistics Department of the Hong Kong government.  Imports in December 2012 rose to a monthly record of 114,405 kilograms, according to data from the department today. [Read more...]

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Solid Gold Business Cards Are The New Currency Among Chinese Businessmen

October 31, 2012 By 9 Comments

The latest way to bribe public officials in China is to discretely pass out a few solid gold (tungsten free of course) business cards.

After all, who wants to pass favors for a paper trail of fiat debt notes? [Read more...]

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