Tag Archive | "Tonnes"

China to US: Is That a Hedge or Are You Just Happy to See Me?


The IMF’s International Financial Statistics show the US holding the lion’s share of global gold reserves:

Gold Holdings(Source: Zero Hedge)

Wow. The US is holding a huge hedge against fiat currency. This exhibit doesn’t really say much about their faith in people’s faith in paper (or, the Fed’s ability to manage that paper properly).

cash4gold_Uncle SamThis chart also says a few more things:

1) At these levels, the world would have to be clinically insane to accept any move where gold represents a global currency;

2) That pile of rock merely pays off a portion of the US Debts;

3) Like paper, gold is just another derivative (i.e., symbol) of reality which does not reflect true value of value added to society; and,

4) Now I’m sure Cash4Gold is a US corporation.

I would also add that if there is a raging river of inflation waiting to break past bank vault dams, gold prices will fly much higher …

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Posted in Damien Hoffman Scoop, Economy, Featured, The ScoopComments (0)


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