The Financial Collapse of 2001 Unwinding Message Board

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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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To: TobagoJack who wrote (2049)	8/14/2019 3:53:53 PM
From: Elroy Jetson	Read Replies (1) of 13775

Exclusive: China has Halted Gold Imports since May to stop Chinese residents from moving their savings offshore Until May 2019 China was the world’s biggest importer of gold, sucking in around 1,500 tonnes of metal worth some $60 billion last year, according to its customs data. As the Yuan fiat currency imploded in April and declined by more than 10% China halted gold imports to stop the outflow of savings from China. If China's trade war worsens, bullion industry sources with direct knowledge of the matter told Reuters, the Party is considering the confiscation all private gold holdings in a move aimed at stabilizing the Yuan as economic growth slows. For those living under the control of China's Communist Party it's the end of the world as they knew it. . Four gold refiners in China still retain permits to import semi-pure gold concentrate. It is not known if China's government is allowing these companies to sell the refined gold within China, or only for export. The Chinese central bank did not respond to a written request for comment. China last restricted gold import quotas in 2016 after the yuan weakened sharply, bullion bankers said. But not to this degree. It’s “unprecedented,” said an industry source in Asia, "The price of gold in China currently sells at a premium to the price elsewhere."

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