China will shock the world with an announcement that it has accumulated 5,000 tonnes of gold next April, according to Jim Rickards, the author and hedge fund manager who addressed the last-ever Agora Financial Investment Symposium in Vancouver this week.
He told Agora’s flagship publication The Daily Reckoning: ‘I’ve spoken to a number of people who are very close to the physical market, I’ve done my own investigations, etc. Every time I have an estimate and try to verify it, what I get back is that I’m wrong on the low side.’
His prediction is that come April 2014, China will report gold reserves of 5,000 tonnes. This will send the price of gold spinning upwards, which is why the Chinese have done this secretly of course and in collusion with the bullion banks most probably.
Thanks to BrotherJohnF