Hutch,
Canada sold 168,000 ozs og gold last month (less than a measly $50M). Now the $cdn is backed by worthless paper IOUs, $500 billions of them.
However, I think, the sale of gold is more to manipulate the POG lower by the G7 over the last decade. This is to increase the appeal of worthless bonds and equities, thereby manipulating the markets higher, and keeping interest rates low. The US has a $5.5 trillion debt. If inflation increases, interest rates go up, and the stock markets collapse, some the industrialized countries such as the US and Canada will be in deeeeeeep trouble. Just my thoughts.
Regards, Lalit Jain |
