Re: The buyers are never disclosed, no interviews, no reason why, yet the sellers get the headlines.
I heard on a radio station that the French bullion will never be delivered to the buyer(s) --the gold ingots will remain in the Banque de France's strongroom... which somehow provides a clue to the buyers' identity: either large financial institutions and/or other governments.
Now, my hunch is that the Chinese are buying out Europeans' gold... As I said in previous posts, Chinese got the gold bug... So what's happening is that, over the next 6-10 months, the ownership of French, German, Italian,... gold will be bequeathed to Chinese banks, that is, state-owned banks. Of course, it's a geopolitical risk for China to keep huge amounts of bullion deposited in foreign countries, however, there's a hedge: France's --and other EU gold sellers'-- huge FDI in China. If, God forbid, things ever turned sour between China and, say, France to the point where the latter confiscates the Chinese gold deposited in the Banque de France then all China would have to do is confiscate French assets in China... Fair deal?
Gus |
