Stephen Leeb - comments
China is actually mining some of its gold at projects inside of China
- at staggering “all-in cash costs
- in the
$2,000 to $2,500 range.”
Not only are the Chinese..... vacuuming up
all of the gold from the West,
- but they are also ....keeping ......the world’s largest volume of production ....for themselves as well.
This is why the West is losing control and the people in the West are going to be the bag holders.
But the only way the Chinese can be doing all of this mining
- is if they believe gold is going to be selling for .....
at least $2,000 to $2,500.
Alex Stanczyk, Chief Market Strategist for the Anglo Far- East group
Having just jus returned from a trip to Switzerland. Alex confirmed
- the distribution of gold from west to east... is not... slowing down whatsoever.
- Refineries in Switzerland are.... still working 24 hour a day
- to cast bars for China,
- sometimes having
difficulties sourcing the gold..
http://www.ingoldwetrust.ch/alex-stanczyk-physical-supply-never-been-tighter
Bill Fleckstein - thoughts on BitCoin
“Yeah, it’s .....a giant chain-letter.
- Everyone will lose all of their money that puts money in it.
- It’s a complete joke.
Even a crappy currency has government taxing ability behind it, or some sort of a standing army or something like that.
Bitcoin in nothing.
- It’s dot-com mania 3.0.... just moved one step over, right?
- People are so enamored with communication with their phones and online commerce and all of that.
- Now... they’ve invented.... what they call - a currency
- to mess around with it, and people are speculating in it the same way they speculated in..... this other crap.
It’s not a currency at all, it’s a complete joke.”
Canadian
John Ing comments
I visited the Shanghai Gold Exchange in 2009, and today that futures exchange is
- bigger than the Comex.
Most importantly, if you look at their deliveries, they have delivered
- 8,655 tons of gold ......since 2009.
That is a staggering amount of gold because
- that’s more gold than the Americans ....are supposed to have.... at Fort Knox.
The Chinese have consumed somewhere in the neighborhood of
- 1,700 tons of gold
- in just the first 8 months of this year.
This works out to the Chinese consuming ....all of the world’s production... in one year. Where is that gold going ?
(Comment - on top of that - China themselves are the worlds largest producer.....and that doesn't see...the light of day...through the markets)