There aren’t enough precious metals out there. The gold market is mostly paper iou’s.
Dont let Chinese arrogance be confused with power.
“There arent enough precious metals out there. The gold market is mostly paper ious.”
You’re correct in noting that the gold market in the west is mostly IOU’s. It isn’t in the east. They take delivery. I’ll ping you to an article in a moment.
“Don’t let Chinese arrogance be confused with power.”
I really and truly wish it was all bluster and arrogance. Unfortunately, it isn’t. The Chinese see the writing on the wall from an economic perspective, and they’re looking to emerge the winners when things go crunch. Time will tell whether they do or not.