The Phaserl


China’s Gold-Consumption “Unsustainable” (Reuters)

[Ed. Note: Thanks for the laugh Reuters. What is really unsustainable is the US fiat dollar standard built on decades of debt, and death.]

by Jeff Nielson, Bullion Bulls Canada:

In a bit of change of pace; this is the first time I’ve introduced a news item on the Daily Grind, and then done a separate post on it — to flesh-out the topic in greater detail.

There are two, huge, gaping flaws in this pseudo-analysis. First of all; there is absolutely no “reason” offered for this opinion in this entire piece of drivel (below). The Liars report that China’s gold consumption has gone up, and so simply because it has gone up they conclude it is “unsustainable”.

No thought is given to rapidly rising Chinese incomes.

No thought is given to the fact that gold was UNDER-OWNED (and previously outlawed) in this population of 1.3 BILLION people.

No thought is given that our paper currencies are being (deliberately) driven to zero, and thus we are all forced to swap paper-for-metal as fast as we can.

No “thought” is given at all.

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