Andes Gold Corp (AGCZ)

[bobhwang]

hahaha 1290 goes and we're off.

A case in point is the long awaited “goldbug” hope that China will end the Cartel’s reign of terror by simply announcing it owns 10,000 or more tonnes of gold – as if anything the Chinese government publishes should be taken at face value. In our view, it will be far more PM-bullish if they continue to accumulate gold quietly, taking out any and all material supply before ultimately, the West has ZERO left in its coffers. That day may be much sooner than most can imagine; but as we wrote in Thursday’s “Chinese Gold Reserve Update?” the PBOC has no incentive to do so until there is literally zero physical gold left to buy. And sure enough, just yesterday, we learned that China is allowing gold to be imported into Beijing – where import statistics are not published – as well as Hong Kong; clearly, in an attempt to further hide just how much they are buying. Ultimately, this is wildly bullish for gold prices, but to those looking for a quick hit on their “investment,” they’ll just have to wait a bit longer.

http://blog.milesfranklin.com/frogs-aboil