What if?. . . China could easily take a few $billion of the U.S. Treasuries they are holding and buy the IMF's 191 tons of gold. That would draw a solid support line under the price of gold in the neighborhood of $1100/troy oz.
If China accumulates the amount of gold they indicate, they will have a recently documented holding of >/= the U.S. Treasury's supposed 8000 tons (no independent audit since before Nixon was in the Oval Office). They may be attempting to replace the dollar as the reserve currency -- really not good. Hold on, the ride could get bumpy.
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Better is the Enemy of Good Enough. Okay, what’s your point??
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