From China alarmed by US money printing quoting Cheng Siwei, former vice-chairman of the Standing Committee and now head of China’s green energy drive:
“Gold is definitely an alternative, but when we buy, the price goes up. We have to do it carefully so as not to stimulate the markets,” he added.
This is . . . → Read More: But When We Buy, The Price Goes Up
On Wednesday, the Fed’s Beige book was released for July and August. It summarizes reports from the 12 Federal Reserve Districts and pointed to economic activity that continues to stabilize.
Compared to the summary from the Fed’s last report 11 out of 12 regions asserted that economic activity had either stabilized or . . . → Read More: Fed Beige Book: Economic Outlook Cautiously Positive
The report that Hong Kong requested the return of its 2 tonnes of gold to be stored in its new vaults and its suggestion that other Asian countries do the same and store their gold with them resulted in a wave of uninformed hype.
Statements like “the move deals a significant blow to London’s . . . → Read More: Bubble Top Indicators