by Michael Noonan, SilverBearCafe.com:
China represents the East, as its insatiable demand for buying physical gold continues unabated, while in the West, the elite’s central banks have pretty much depleted their physical holdings. In the war for gold, both are still winning, but for vastly different reasons.
China and every other BRICS nation importing gold have been doing so at cheaper and cheaper price levels, as the Western central bankers have been conducting a clearance sale. Even the fixtures are being sold, like JP Morgan’s fire sale of 1 Chase Plaza for $750 million, about half of its value.
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