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Jack Shea
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Jack Shea   My Press Releases

Physical gold continues to leave London

Published on 3/1/2014
For additional information  Click Here

Julian Phillips says physical gold continues to leave London, to be re-refined into smaller bars and then shipped to Asia.

Julian Phillips

February 21, 2014

BENONI, South Africa -

Physical gold continues to leave London, to be re-refined into smaller 1Kg bars and then shipped to Asia, as reported for January of this year, confirming that Far East demand to acquire gold persistently [almost irrespective of the price] continues and will continue in 2014.

While the Chinese government remains inscrutable on its holdings of gold, they continue to encourage its acquisition by its people. The development of the distribution systems of gold across the country moves on constantly, as does the number of importers allowed to bring it in. They have even licensed non-banking importers so long as they import more than 10 tons a year. It is clear by the nature of the power of the Chinese government that should they require their citizens to do so, a decree ordering them to hand their gold to government [against payment] would be obeyed, nearly completely. So it is relevant how much gold is entering China overall. Why?

In January, China sold around 3.5% of their U.S. Treasury holdings [$47.8 billion] in a growing program of diversifying into other currencies and assets. [We discuss this fully in the next issue of the weekly Gold Forecaster] ahead of the full convertibility of the Chinese Yuan. Because China will not work in cooperation with the U.S. on this [leaving the $ dominance intact], desiring their independent position in the currency world, we expect considerable turbulence and volatility in the currency world when this happens. At that time the ‘peg’ to the dollar will be lifted, but don’t expect the Yuan to appreciate then [that would be against Chinese interests]. It is all part of a long-term plan to position the Yuan to be a global reserve currency, next in importance to the dollar.

Above reported by Julian Phillips

Do you think that the Chinese may be a little concerned about the demise of the U.S. Dollar. As the Fed continues to print money with respect like it is for a monopoly game, inflating the Stock Market to historic highs and at the same time buying back the debt that they are continuing to increase every month.

What are you doing to protect your assets other than hoping to get out before the bubble bursts or maybe you have an underground vault that is already filled with precious metals and a 10 year supply of food and water. I have sat on the side lines for over five years watching the price of gold grow while watching my spending power shrink.

I wanted to invest back then in the gold market but it was almost impossible to do even at $350 an ounce. Sure I could have started with one ounce except I couldn`t find a company that would let me in for less than $5,000. However times do change and now the masses are able to get into what was once a limited market for most individuals.

Visit here > Pay Your Self First and get your free gold saving account started.

Jack Shea
Asset Protection Consultant

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