China has been stockpiling for well over a decade. I remember stories from back around the GFC that pointed to them buying Gold on the QT through Hong Kong, always a big Gold smuggling hub. They are the worlds largest producer, but the don't export.
$this->bbcode_second_pass_quote('', 'L')ONDON – Gold exports from Switzerland to China jumped 254% in August compared with July to their highest level since May 2024 and supplies to India rose, partly offsetting a slump in deliveries to the United States, Swiss customs data showed on Thursday. The Swiss data showed that gold exports to China rose in August to 35 metric tons from 9.9 tons in July, while supplies to India, another major bullion consumer along with China, climbed to 15.2 tons from 13.5 tons.
PeakOil is You
THE Silver & Gold Thread (merged)
Re: THE Silver & Gold Thread (merged)
by theluckycountry » Sat 04 Oct 2025, 04:23:07
So many big stories about Gold's movement from West to East have long since fallen down the memory hole. I have a lot of them recorded in old archives, I often save pages out with firefox, in the old days, 'explorer'. Save and forget, but they are there just in case I need to go back and put stuff together.
Currently Gold's purchasing power is well above historical norms. That is to say what's normal in 'good times'. In times of War and Empire change though it typically holds a higher value. Going back in time "The pound sterling" has been the money of account of the Bank of England from its inception in 1694. But of course back then it was a literal pound of sterling sliver, a troy pound of sterling silver containing 9 troy ounces of pure silver. Today that's worth 315 GBP, and shows how inflation has destroyed that currency.
A friend of mine, a nice guy but a total drone, came back from a housing seminar and showed me a chart of London house prices going back 300 years to prove the mantra that they double in value every 10 years. I pointed the above out to him and suggested that if he wanted the real doubling time he should convert the paper pounds to silver pounds for a given decade. Of course this sort of thing was totally beyond him, not that he couldn't have done the math, but he was so locked into the mantra, owning 4 properties himself, that there was no way he was going to question the strawberries and cream.
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
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Re: THE Silver & Gold Thread (merged)
by theluckycountry » Sat 04 Oct 2025, 04:28:44
An old webpage still active.
$this->bbcode_second_pass_quote('', '
') Following the U.S. dollar
Since leaving gold, there have been several attempts to peg the value of the pound to other currencies, initially the U.S. dollar.
Under continuing economic pressure, and despite months of denials that it would do so, on September 19, 1949, the government devalued the pound by 30%, from US$4.03 to US$2.80. The move prompted several other governments to devalue against the dollar too, including Australia, Denmark, Ireland, Egypt, India, Israel, New Zealand, Norway and South Africa.
In the mid- 1960s the pound came under renewed pressure since the exchange rate against the dollar was considered too high. In the summer of 1966, with the value of the pound falling in the currency markets, exchange controls were tightened by the Wilson government. Among the measures, tourists were banned from taking more than £50 out of the country, until the restriction was lifted in 1970. The pound was eventually devalued by 14.3% to US$2.41 in November 1967.
With the break down of the Bretton Woods system — not least because mainly British currency dealers had created a substantial Eurodollar market which made the U.S. dollar's gold standard harder for its government to maintain — the pound was floated in the early 1970s and so subject to a market valuation. The Sterling Area effectively ended at this time when the majority of its members also chose to float freely against the pound and the dollar.
A further crisis followed in 1976, when it was apparently leaked that the International Monetary Fund (IMF) thought that the pound should be set at US$1.50, and as a result the pound fell to $1.57, and the government decided it had to borrow £2.3 billion from the IMF. In the early 1980s the pound moved above the $2 level as interest rates rose in response to the monetarist policy of targeting money supply and a high exchange rate was widely blamed for the deep recession of 1981. At its lowest, the pound stood at just US$1.05 in February 1985, before returning to US$1.77 during the 1990s. As of August, 2006 it had risen back to $1.91 and has risen and fallen with the Euro against the US dollar, standing as of October 13, 2006 at $1.85.
https://dlab.epfl.ch/wikispeedia/wpcd/w ... erling.htm$this->bbcode_second_pass_quote('', '
') Following the U.S. dollar
Since leaving gold, there have been several attempts to peg the value of the pound to other currencies, initially the U.S. dollar.
Under continuing economic pressure, and despite months of denials that it would do so, on September 19, 1949, the government devalued the pound by 30%, from US$4.03 to US$2.80. The move prompted several other governments to devalue against the dollar too, including Australia, Denmark, Ireland, Egypt, India, Israel, New Zealand, Norway and South Africa.
In the mid- 1960s the pound came under renewed pressure since the exchange rate against the dollar was considered too high. In the summer of 1966, with the value of the pound falling in the currency markets, exchange controls were tightened by the Wilson government. Among the measures, tourists were banned from taking more than £50 out of the country, until the restriction was lifted in 1970. The pound was eventually devalued by 14.3% to US$2.41 in November 1967.
With the break down of the Bretton Woods system — not least because mainly British currency dealers had created a substantial Eurodollar market which made the U.S. dollar's gold standard harder for its government to maintain — the pound was floated in the early 1970s and so subject to a market valuation. The Sterling Area effectively ended at this time when the majority of its members also chose to float freely against the pound and the dollar.
A further crisis followed in 1976, when it was apparently leaked that the International Monetary Fund (IMF) thought that the pound should be set at US$1.50, and as a result the pound fell to $1.57, and the government decided it had to borrow £2.3 billion from the IMF. In the early 1980s the pound moved above the $2 level as interest rates rose in response to the monetarist policy of targeting money supply and a high exchange rate was widely blamed for the deep recession of 1981. At its lowest, the pound stood at just US$1.05 in February 1985, before returning to US$1.77 during the 1990s. As of August, 2006 it had risen back to $1.91 and has risen and fallen with the Euro against the US dollar, standing as of October 13, 2006 at $1.85.
Expect the US$ to follow a similar path when the BRICS+ take over
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
- theluckycountry
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Re: THE Silver & Gold Thread (merged)
by theluckycountry » Sat 04 Oct 2025, 12:23:00
Article:
Or vid, for those that struggle to read https://www.youtube.com/watch?v=WuRlPjNFgjc
$this->bbcode_second_pass_quote('', 'S')ingapore and Hong Kong are seeking to usurp London as the center of the global gold trade, another indication of the yellow metal’s shift from West to East. Western markets – London, New York, and Switzerland – have dominated the gold trade for nearly two centuries. However, with gold progressively flowing from West to East, Singapore and Hong Kong are developing the infrastructure to challenge Western dominance.
The Reserve opened last year in Singapore. It features one of the largest maximum-security bullion vaults in the world, designed to hold up to 10,000 tonnes of silver and 500 tonnes of gold. The goal is to lease space to private banks and family offices so they can store their wealthy clients’ precious metals holdings in a secure facility a short distance from Southeast Asia’s busiest airport.
So far, the facility only holds a fraction of the metal it was designed for. However, Singapore Bullion Market Association chief executive Albert Cheng told the Financial Times it’s only a matter of time before Asia begins to challenge London’s dominance.
“London took 200 years to build the infrastructure to become the center of the world gold market. We have lots of work to do, but it won’t take us that long.”
In addition to building new vaulting facilities, players in the Asian gold market are also expanding wholesale warehousing and refining capabilities. Meanwhile, Abaxx Exchange, a Singapore-based bourse, recently launched a gold futures contract. The Shanghai Gold Exchange has also launched a renminbi-denominated gold contract. It opened an offshore vault in Hong Kong to support the contracts and help market them to foreign investors.
https://www.moneymetals.com/news/2025/0 ... ade-004371Or vid, for those that struggle to read https://www.youtube.com/watch?v=WuRlPjNFgjc
$this->bbcode_second_pass_quote('', 'S')ingapore and Hong Kong are seeking to usurp London as the center of the global gold trade, another indication of the yellow metal’s shift from West to East. Western markets – London, New York, and Switzerland – have dominated the gold trade for nearly two centuries. However, with gold progressively flowing from West to East, Singapore and Hong Kong are developing the infrastructure to challenge Western dominance.
The Reserve opened last year in Singapore. It features one of the largest maximum-security bullion vaults in the world, designed to hold up to 10,000 tonnes of silver and 500 tonnes of gold. The goal is to lease space to private banks and family offices so they can store their wealthy clients’ precious metals holdings in a secure facility a short distance from Southeast Asia’s busiest airport.
So far, the facility only holds a fraction of the metal it was designed for. However, Singapore Bullion Market Association chief executive Albert Cheng told the Financial Times it’s only a matter of time before Asia begins to challenge London’s dominance.
“London took 200 years to build the infrastructure to become the center of the world gold market. We have lots of work to do, but it won’t take us that long.”
In addition to building new vaulting facilities, players in the Asian gold market are also expanding wholesale warehousing and refining capabilities. Meanwhile, Abaxx Exchange, a Singapore-based bourse, recently launched a gold futures contract. The Shanghai Gold Exchange has also launched a renminbi-denominated gold contract. It opened an offshore vault in Hong Kong to support the contracts and help market them to foreign investors.
The American billionaire Jim Rogers, who co-founded a global investment partnership with George Soros in the 1970s, retired at 37. Well done mate. He used to live in New York, but moved to Singapore in 2007 with his family to capitalize on Asian market investment opportunities and to provide his daughters with a Mandarin-speaking environment, he opted for Singapore over mainland China due to pollution concerns. He is a Big Gold guy, he saw the future unfolding. Many other Billionares are domiciled there too.
$this->bbcode_second_pass_quote('', 'S')ingapore's central bank, the Monetary Authority of Singapore, holds over 219.6 metric tons of gold reserves as of late 2024, a significant increase from around 127.4 tons in 2021. This rapid accumulation has made Singapore the largest gold holder in Southeast Asia and the 22nd largest globally.
The comments on that story link above are typical of little people,
"You can't trust anything that the CCP is involved in!"
"While Chinese investors and their central bank is gobbling up gold, I absolutely detest the CCP! It's a vile and very wicked, Communist dictatorship! I want absolutely nothing to do with cheap, Chinese sweat shop slave labor and products!"
Sounds like a woman talking, I bet her/his home is full of CCP products
The masses are manipulated by their governments, We are good, they are evil. While there is some truth in this, from both sides, It numbs your brain and sets you up for cannon-fodder. I couldn't give a toss about the Chinese, but I won't let emotions cloud my God given judgement. Their push for Gold is real, and their chances of usurping the Euro led West as the future dominant empire are real too.
I avoid the most egregious of their crap products, and I was saying 20 years ago that they are nothing like the Japanese. That was when everyone was saying they were, and that one day soon their products would be superior like the Japanese products became after a cheap start. They were just all sheep bleating the dribble they been told by "analysts" but I knew the Japanese culture was based on honor and community whereas China's was based on Greed and every man for himself. Know your enemy as they say.
We're 17 years past the peak now and the 3rd World is going hungry and dark. We'll be next, we're well on the way in fact.
- theluckycountry
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)
