The Phaserl


China Claims To Already Have the Third Largest Gold Reserves in the World

from Jesse’s Café Américain:

It should be noted that this report is sourced from ‘ScrapMonster.’ I have found it on the webpage for the Shanghai Metals Market. The numbers in this article do not agree with the latest reported number for China from the World Gold Council, which by the way is hopelessly out of date. 

More importantly, there is no IMF report that I have been independently been able to find that discloses this information.   If this story below is true, then it is quite the news piece, since details on China’s gold holdings are of great interest to many. The number in the story below is credible, which first sparked my interest in it.

Let’s see if the Chinese confirm or deny this, or more likely, continue to say nothing and buy.

Here is a recent news item about this controversy from Bloomberg:

Read More @ Jesse’s Café Américain:

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