Sunday, October 4, 2015

China's Gold Found?

Smaul gld emails:

When China released its underwhelming gold reserves, I published this speculation - The Case of China's Missing Gold which was picked up and reproduced in its entirety on Zero Hedge.

I speculated that China's gold was scattered through out the country at other Chinese banks, at their sovereign wealth fund and with individuals.

I recently found seeming confirmation from a statement by Chinese President Xi Jinping  and reported on it here:

Chinese President Xi Jinping recently confirmed the practice of moving the People’s Bank of China’s reserve assets to other entities in China: “some assets in foreign exchanges were transferred from the central bank to domestic banks, enterprises and individuals” This might explain where some of China’s gold hoard, that many suspect they posses but have not reported as reserves, may be located.

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