Friday, October 11, 2013 10:09:45 AM
We now see two of the BRICS having serious metals exchanges to rival Comex and the LBMA. I see from various sources that China is a huge buyer at around $1300 per oz and today's expected smash was simply more good news for their buying agencies.
The questions I haven't answered for myself yet are 'What will the Fed do when ALL its gold is drained and transported East?'
Will they be forced to buy back Germany's gold on the Chinese and Russian markets ?
I think they will because the desperation currently shown by the Fed to protect the USD by smashing the paper gold price on increasing numbers of occasions has simply back-fired and stimulated eastern sovereign demand.
I am probably not alone in thinking it unlikely that Shanghai and Moscow will not allow toxic US banks to trade heavily in the paper market on their own turf. That would be like the chickens asking the fox to Feng Shui the chicken coop.
The other interesting thing is how desperate the Fed now looks as it becomes more widely known how Bernanke has perpetrated an enormous fraud upon the US people, and their economy, via his flawed thesis in liquidity within economic strategy.
Janet Yellen will soon regret taking the poisoned chalice Fed Chair job as the infection in US economic strategy is a stronger hold and she and Obama have no antibiotics.
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