Gold and Silver Miners and the U.S Markets. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold and Silver Miners and the U.S Markets.

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: The1Stockman who wrote (1913)	6/26/2014 11:20:41 AM
From: Robov	Read Replies (1) of 1954

According to the ZH article this could and will likely be paper gold positive as Futures are bought as a hedge. Up To $80 Billion Gold-Backed Loans Are Falsified, Chinese Auditor Warns Submitted by Tyler Durden on 06/26/2014 - 10:32 As the probe into alleged fraud at Qingdao continues to escalate (with liquidity needs growing more and more evident as Chinese money-market rates surge), Bloomberg reports that China’s chief auditor discovered 94.4 billion yuan ($15.2 billion) of loans backed by falsified gold transactions, in "the first official confirmation of what many people have suspected for a long time - that gold is widely used in Chinese commodity financing deals." As much as 1,000 tons of gold may have been used in lending and leasing deals in China and Goldman reports that up to $80 billion false-loans may involve gold. As one analyst noted, this was unlikely to have a significant impact on the underlying demand for gold in China and as we have pointed out before, any unwind of the Gold CFDs would lead to buying back of 'paper' gold hedges and implicitly a rise in prices.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next