Graph source: @Jan Skoyles, Head of Research at The Real Asset Company
Except for just two instances in the last 18 months, deliveries on the Shanghai Gold Exchange have been ABOVE Hong Kong imports . In April, SGE deliveries famously overtook mining production, and it has hovered there in the weeks and months since then.
These transparent, recorded deliveries on the SGE represent the largest visible gold off-take anywhere in the world.
While little COMEX gold was delivered in that period, indicating mostly paper gold price manipulation, MORE GOLD was being delivered to China than was being imported through HK.
One wonders why the two exchanges were not conforming. The excess had to come from somewhere. Is that where the German gold went? Is that where ‘leased’ American bullion goes after it is delivered ( ie: SOLD by the Lessee)? Interesting concept, “leasing”, then selling.
How can you transfer title to something you don’t own? Can we do that with our cars?(Without going to jail for fraud?) What if the physical gold which is being delivered IS leased? What happens when the lease is up? Is that when the jig is up too? What if the leased gold can’t be returned at lease end, covered by futures purchases? Even if so, is that legal? Ethical? Transparent?
Is there really someone able to just walk into Fort Knox, BORROW some gold, sell it to China, and hope the public doesn’t catch on? Maybe if the defense attorney says “Well, they were PLANNING on putting it back someday” then the A-G will say it’s OK. Apparently, it’s NOT a crime to use the public’s gold as collateral to manipulate the paper gold price so certain inside bankers can then buy their own real gold cheaper, and replacing the original stash, pocketing the price difference of a few billion dollars.
Because if it WERE a crime, the A-G, the Secretary of the Treasury and the Federal Reserve would all be against the idea….right?
If this sounds like an episode of World’s Dumbest Criminals on YouTube, don’t laugh! SOMEONE is “borrowing” SOMEONE ELSE’S gold, FENCING IT on the bullion exchanges, and China is buying all the stolen merchandise it can find.
How are they paying for it? With all those paper US dollars they have loaned us for years.
If we still have gold in Fort Knox, or at the Federal Reserve, let’s see it. The Fed and the Bankster Barons run the government, not Obama, not Congress, not the People.
Tell me again? Who elected them?