The Phaserl


How Much Gold Do They Really Have?

by Bill Holter, Miles Franklin:

“How much Gold do they really have?” This is a question which is asked all the time regarding the ETFs and of inventories such as the COMEX and in London. Of course the real hardcore whack jobs ask even more “conspiratorial” question like how much gold is in Ft. Knox? A logical question mind you since there has been no audit since 1956, but what’s not to trust? You see, no matter where you look when it pertains to gold, the “motive” to lie is off the charts. So, how much gold do they really have? …the Chinese, that is. And why are the numbers and reports so vague and not often reported?

And yes, THEY also have reason to hide the true facts and to cloak what they have really accumulated but obviously for different reasons. China is a mirror image of the West, while the West wants you to believe that they have vaults filled to the brim and bursting at the doors, China cry’s “poor.” They claim to have 1,054 tons of gold. They have much MUCH more and I’ll talk about that in a minute.

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2 comments to How Much Gold Do They Really Have?

  • Frank Zak

    $20.00 is an incredibly important
    support level for silver. Most all knowledgeable
    traders would have covered shorts as silver approached it.
    I mentioned this when silver was $35.

    The problem is silver follows gold.

    Gold support is $1,000

    Most all knowledgeable traders know there is a 75%
    chance gold will hit $1,000.

    So, silver would have to take a very large move up
    from here before the next leg down, to maintain $20.00,
    when gold hits $1,000.

    Its not impossible, just highly unlikely.

    If gold and silver would put in an outside week
    to the upside, it would help here.

    The $20.25 in silver was hit in the Globex,
    so it may retest in the Comex to wash all shorts out.

  • Frank Zak

    If the Chinese can print paper money
    and buy gold its great for them.

    They also devalue their currency which
    keeps their exports low.

    They also get rid of excessive dollar
    holdings out of our bonds.

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