Thursday, August 29, 2013

Gold Flowing East

This gold has gone out of the system and it is not coming back to the West. This will have enormous ramifications for the gold price both in the short-term and over the long-term. The tremendous amount of physical gold and silver has now been captured by other players, and these are not entities who are the ‘fast money‘ crowd.

These are Eastern central banks and people who are trying to preserve their wealth because they know what is coming. The Chinese have been dumping large amounts of dollar holdings, and in the case of the Indian people, they are desperately trying to buy gold and silver in order to protect their savings against a falling rupee.

- Keith Barron via King World News, read the full interview here: